Miami International (NYSE:MIAX) Given New $43.00 Price Target at Morgan Stanley

Miami International (NYSE:MIAX) had its price target lowered by stock analysts at Morgan Stanley from $50.00 to $43.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 39.96% from the company’s current price.

Several other brokerages have also commented on MIAX. Weiss Ratings restated a “hold (c)” rating on shares of Miami International in a report on Friday, August 7th. Keefe, Bruyette & Woods raised their target price on Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a research note on Friday, August 7th. Rosenblatt Securities restated a “buy” rating and set a $62.00 price target on shares of Miami International in a research report on Friday, October 2nd. Zacks Research upgraded Miami International from a “hold” rating to a “strong-buy” rating in a report on Friday, September 25th. Finally, Wall Street Zen cut shares of Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $50.00.

Miami International Stock Performance

NYSE MIAX opened at $30.72 on Friday. The stock has a market cap of $3.05 billion, a P/E ratio of 39.90 and a beta of 1.79. Miami International has a fifty-two week low of $29.21 and a fifty-two week high of $57.14. The stock has a 50 day simple moving average of $40.27 and a two-hundred day simple moving average of $42.43.

Miami International (NYSE:MIAX) last announced its earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The company had revenue of $387.63 million during the quarter. Miami International had a return on equity of 16.95% and a net margin of 9.70%.Miami International’s revenue was up 34.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.48 EPS. Sell-side analysts predict that Miami International will post 1.71 earnings per share for the current year.

Insider Activity

In other Miami International news, EVP Barbara Comly sold 44,445 shares of the stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $40.49, for a total transaction of $1,799,578.05. Following the sale, the executive vice president directly owned 839,564 shares in the company, valued at approximately $33,993,946.36. This trade represents a 5.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas Gallagher sold 47,000 shares of Miami International stock in a transaction dated 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 completion of the sale, the chief executive officer owned 1,423,275 shares of the company’s stock, valued at $60,389,558.25. The trade was a 3.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 595,415 shares of company stock valued at $24,848,566. Company insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Miami International

A number of institutional investors and hedge funds have recently bought and sold shares of MIAX. Caitong International Asset Management Co. Ltd purchased a new position in Miami International during the 4th quarter valued at approximately $66,000. Fifth Third Bancorp purchased a new position in shares of Miami International during the 1st quarter worth about $61,000. New York State Teachers Retirement System bought a new stake in shares of Miami International during the 1st quarter worth approximately $84,000. SG Americas Securities LLC boosted 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 valued at $138,000 after purchasing an additional 1,162 shares during the period. Finally, State of Wyoming increased its position in shares of 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.