Miami International’s (MIAX) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Miami International (NYSE:MIAX) in a research note issued to investors on Friday,Benzinga reports. They currently have a $62.00 price target on the stock.

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

Miami International Stock Down 0.2%

NYSE:MIAX opened at $32.93 on Friday. Miami International has a 52 week low of $32.89 and a 52 week high of $57.14. The stock’s fifty day moving average is $41.39 and its two-hundred day moving average is $42.65. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 42.77 and a beta of 1.79.

Miami International (NYSE:MIAX) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The business 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%.The company’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 earnings per share. On average, sell-side analysts expect that Miami International will post 1.71 EPS for the current fiscal year.

Insider Activity at Miami International

In other Miami International news, EVP Edward Deitzel sold 11,000 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $42.21, for a total value of $464,310.00. Following the sale, the executive vice president owned 119,601 shares of the company’s stock, valued at $5,048,358.21. This trade represents a 8.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Barbara Comly sold 44,445 shares of Miami International stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $40.49, for a total value of $1,799,578.05. Following the completion of the transaction, the executive vice president owned 839,564 shares of the company’s stock, valued at $33,993,946.36. The trade was a 5.03% 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. Insiders have sold 583,643 shares of company stock worth $24,708,164 over the last quarter. 15.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MIAX. BlueCrest Capital Management Ltd acquired a new position in Miami International during the 2nd quarter worth approximately $7,432,000. NewEdge Advisors LLC raised its holdings in shares of Miami International by 1,646.6% in the 2nd quarter. NewEdge Advisors LLC now owns 681,610 shares of the company’s stock valued at $25,329,000 after purchasing an additional 642,585 shares in the last quarter. One Charles Private Wealth Services LLC acquired a new stake in shares of Miami International in the 2nd quarter valued at $4,400,000. Allianz Asset Management GmbH purchased a new stake in shares of Miami International during the 2nd quarter worth $13,350,000. Finally, HighTower Advisors LLC grew its stake in shares of Miami International by 290.6% during the second quarter. HighTower Advisors LLC now owns 112,298 shares of the company’s stock worth $4,173,000 after purchasing an additional 83,547 shares in the last quarter.

Miami International Company Profile

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.