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

Miami International (NYSE:MIAX)‘s stock had its “buy” rating reiterated by investment analysts at Rosenblatt Securities in a research note issued to investors on Friday, Benzinga reports. They presently have a $62.00 price target on the stock. Rosenblatt Securities’ target price indicates a potential upside of 83.75% from the stock’s current price.

A number of other analysts have also weighed in on the company. Zacks Research raised Miami International from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 25th. Weiss Ratings reissued a “hold (c)” rating on shares of Miami International in a research report on Friday, August 7th. Wall Street Zen cut shares of Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Keefe, Bruyette & Woods raised their target price 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. Finally, Morgan Stanley lowered Miami International from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $53.00 to $50.00 in a research report on Tuesday, September 1st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.40.

Miami International Stock Performance

Shares of Miami International stock opened at $33.74 on Friday. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 43.82 and a beta of 1.80. The company has a fifty day moving average of $41.58 and a 200-day moving average of $42.70. Miami International has a 52-week low of $33.49 and a 52-week high of $57.14.

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

Insider Buying and Selling

In other news, EVP Edward Deitzel sold 11,000 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $42.21, for a total value of $464,310.00. Following the sale, the executive vice president directly owned 119,601 shares of the company’s stock, valued at $5,048,358.21. This represents a 8.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Douglas Schafer, Jr. sold 48,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $40.48, for a total transaction of $1,943,040.00. Following the completion of the sale, the executive vice president owned 387,414 shares in the company, valued at approximately $15,682,518.72. This trade represents a 11.02% 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 sold 672,415 shares of company stock valued at $28,445,267 over the last 90 days. 15.60% of the stock is currently owned by company insiders.

Institutional Trading of Miami International

Several institutional investors have recently bought and sold shares of MIAX. SG Americas Securities LLC raised its holdings in Miami International by 48.9% in the 1st 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 last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Miami International in the 4th quarter worth about $66,000. Fifth Third Bancorp bought a new position in Miami International during the 1st quarter valued at about $61,000. Swiss National Bank lifted its stake in Miami International by 6.3% during the 1st quarter. Swiss National Bank now owns 33,800 shares of the company’s stock valued at $1,315,000 after acquiring an additional 2,000 shares during the period. Finally, New York State Teachers Retirement System bought a new stake in shares of Miami International in the first quarter worth approximately $84,000.

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.