Miami International (NYSE:MIAX) Releases Quarterly Earnings Results

Miami International (NYSE:MIAX) released its earnings results on Wednesday. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07, FiscalAI reports. The company had revenue of $387.63 million during the quarter.

Miami International Trading Up 1.2%

Shares of NYSE:MIAX traded up $0.53 during trading on Wednesday, hitting $45.87. 1,757,020 shares of the stock were exchanged, compared to its average volume of 1,549,417. The company has a market cap of $4.35 billion and a PE ratio of 47.78. The company has a fifty day moving average price of $41.75 and a two-hundred day moving average price of $42.90. Miami International has a 12-month low of $28.63 and a 12-month high of $57.14.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a research note on Friday, May 8th. Wall Street Zen cut shares of Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Morgan Stanley lifted their target price on shares of Miami International from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, July 10th. JPMorgan Chase & Co. increased their price target on shares of Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.80.

Insider Transactions at Miami International

In related news, CEO Thomas P. Gallagher sold 70,000 shares of Miami International stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $42.36, for a total transaction of $2,965,200.00. Following the completion of the transaction, the chief executive officer directly owned 1,723,275 shares of the company’s stock, valued at approximately $72,997,929. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Barbara J. Comly sold 28,000 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $42.85, for a total value of $1,199,800.00. Following the sale, the executive vice president owned 843,844 shares in the company, valued at approximately $36,158,715.40. The trade was a 3.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 555,000 shares of company stock valued at $23,841,231. Company insiders own 15.60% of the company’s stock.

Institutional Investors Weigh In On Miami International

Large investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. raised its position in Miami International by 24.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,025,712 shares of the company’s stock worth $134,282,000 after acquiring an additional 595,096 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Miami International by 39.5% during the 4th quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock worth $85,577,000 after purchasing an additional 545,770 shares in the last quarter. Horizon Kinetics Asset Management LLC increased its stake in shares of Miami International by 31.6% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 1,819,798 shares of the company’s stock worth $80,763,000 after purchasing an additional 437,395 shares in the last quarter. Alyeska Investment Group L.P. raised its position in shares of Miami International by 1.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,286,086 shares of the company’s stock worth $57,076,000 after purchasing an additional 20,350 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Miami International by 178.8% in the 4th quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock valued at $56,761,000 after buying an additional 820,246 shares in the last quarter.

About Miami International

Miami International (NYSE:MIAX) is a U.S. exchange holding company that operates electronic trading venues and provides market infrastructure for listed options and related products. Its primary business activities include operating regulated exchanges, delivering market data feeds, and offering trading technology and connectivity services designed for professional traders, broker-dealers, and market makers. The company focuses on low-latency execution, order matching, and the operational controls required to support high-volume, automated trading strategies in listed derivatives.

Products and services provided by Miami International include fully electronic order matching engines, transmittable market data and feed products, colocation and connectivity solutions, and tools for risk management and regulatory compliance.