Miami International (NYSE:MIAX) Given Buy Rating at Rosenblatt Securities

Miami International (NYSE:MIAX)‘s stock had its “buy” rating restated by equities research analysts at Rosenblatt Securities in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $62.00 price target on the stock. Rosenblatt Securities’ target price suggests a potential upside of 84.17% from the company’s current price.

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods lifted their price target on Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Miami International in a research report on Friday, August 7th. Wall Street Zen lowered Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Morgan Stanley lowered Miami International from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $53.00 to $50.00 in a research note on Tuesday, September 1st. Finally, Zacks Research raised Miami International from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $51.40.

Miami International Trading Down 0.3%

MIAX traded down $0.09 during trading on Friday, hitting $33.67. The company’s stock had a trading volume of 60,524 shares, compared to its average volume of 1,526,637. The business’s fifty day simple moving average is $41.58 and its 200 day simple moving average is $42.70. Miami International has a twelve month low of $33.49 and a twelve month high of $57.14. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 43.72 and a beta of 1.80.

Miami International (NYSE:MIAX) last announced its earnings results on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The business had revenue of $387.63 million for the quarter. During the same quarter last year, the business earned $0.48 EPS. The firm’s revenue for the quarter was up 34.8% compared to the same quarter last year. As a group, equities research analysts forecast that Miami International will post 1.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Thomas Gallagher sold 47,000 shares of the stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $42.43, for a total value of $1,994,210.00. Following the sale, the chief executive officer directly owned 1,423,275 shares in the company, valued at approximately $60,389,558.25. This trade represents a 3.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Shelly Brown sold 21,217 shares of Miami International stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $38.61, for a total value of $819,188.37. Following the completion of the transaction, the executive vice president owned 316,490 shares of the company’s stock, valued at $12,219,678.90. The trade was a 6.28% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 672,415 shares of company stock valued at $28,445,267. 15.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Miami International

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd acquired a new stake in Miami International during the 4th quarter worth $66,000. Fifth Third Bancorp acquired a new position in shares of Miami International during the first quarter worth about $61,000. New York State Teachers Retirement System acquired a new position in shares of Miami International during the first quarter worth about $84,000. SG Americas Securities LLC increased its stake in shares of Miami International by 48.9% during the first quarter. SG Americas Securities LLC now owns 3,537 shares of the company’s stock worth $138,000 after acquiring an additional 1,162 shares during the period. Finally, State of Wyoming grew its holdings in Miami International by 664.6% during the first quarter. State of Wyoming now owns 4,542 shares of the company’s stock worth $177,000 after acquiring an additional 3,948 shares during the period.

About Miami International

Miami International Holdings, Inc operates financial markets and exchange platforms through its MIAX Exchange Group. The company provides electronic trading venues, market data, and related technology for options and other securities, with an emphasis on high-performance execution and competitive market structure.

Its U.S. exchange portfolio includes the MIAX, MIAX Pearl, MIAX Emerald, and MIAX Sapphire options exchanges, as well as MIAX Pearl Equities. These venues support trading in listed options and equities and are designed to serve market makers, institutional investors, broker-dealers, and other market participants.

Miami International Holdings was founded in 2007, and its flagship MIAX options exchange began operations in 2012.