Miami International (NYSE:MIAX) Releases Earnings Results

Miami International (NYSE:MIAX) announced its quarterly earnings results on Thursday. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.09, FiscalAI reports. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The company had revenue of $376.18 million during the quarter. During the same quarter last year, the company posted $0.42 earnings per share. The firm’s quarterly revenue was up 243.6% on a year-over-year basis.

Here are the key takeaways from Miami International’s conference call:

• Third-quarter net revenue rose 20% year over year to $131 million, while adjusted EBITDA increased to $71 million and the margin expanded to 54% from 44% a year ago.
• The options business continued to gain traction, with average daily volume up 15% and market share rising to 17.4%; the Sapphire trading floor captured more than 12% of industry multi-listed trading-floor volume.
• Options revenue per contract fell to $0.098 from $0.11 in the first quarter, primarily due to July pricing changes and the revised options regulatory fee structure; management views approximately $0.10 as a reasonable near-term reset point.
• Management lowered full-year 2026 adjusted operating-expense guidance to $254 million–$257 million from $260 million–$270 million, while maintaining its expectation for continued margin expansion despite investments in new products.
• Bloomberg Financial Futures remain in the early launch phase, with NinjaTrader now distributing the products and additional retail platforms expected; MIAX is also expanding its agricultural futures lineup and plans to pursue filings for binary index and KPI options.

Miami International Stock Down 2.0%

Shares of NYSE MIAX traded down $0.65 during trading hours on Thursday, reaching $31.33. 1,566,217 shares of the stock traded hands, compared to its average volume of 1,846,968. The company’s 50-day simple moving average is $36.62 and its two-hundred day simple moving average is $41.36. The company has a market capitalization of $3.11 billion, a P/E ratio of 22.21 and a beta of 1.79. Miami International has a 52-week low of $29.06 and a 52-week high of $57.14.

Insider Buying and Selling at Miami International

In other news, CEO Thomas Gallagher sold 149,700 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $41.13, for a total value of $6,157,161.00. Following the completion of the sale, the chief executive officer directly owned 1,423,275 shares in the company, valued at approximately $58,539,300.75. The trade was a 9.52% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Douglas Schafer, Jr. sold 48,000 shares of the company’s stock in a transaction on Wednesday, September 2nd. The shares were 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 directly owned 387,414 shares of the company’s stock, valued at $15,682,518.72. This trade represents a 11.02% decrease in their position. 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 three months, insiders sold 517,721 shares of company stock valued at $21,408,408. 15.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Miami International

Institutional investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp purchased a new position in shares of Miami International in the first quarter worth about $61,000. New York State Teachers Retirement System bought a new stake in shares of Miami International in the 1st quarter valued at about $84,000. Sterling Capital Management LLC boosted its holdings in Miami International by 857.2% during the 3rd quarter. Sterling Capital Management LLC now owns 2,575 shares of the company’s stock valued at $86,000 after acquiring an additional 2,306 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Miami International by 42.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,641 shares of the company’s stock valued at $88,000 after acquiring an additional 785 shares during the period. Finally, State of Alaska Department of Revenue bought a new position in Miami International during the 3rd quarter worth approximately $108,000.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MIAX shares. Keefe, Bruyette & Woods lifted their price target on Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a research report on Friday, August 7th. Zacks Research lowered Miami International from a “strong-buy” rating to a “hold” rating in a report on Monday. Weiss Ratings cut shares of Miami International from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday. Rosenblatt Securities decreased their target price on shares of Miami International from $62.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Morgan Stanley lowered their target price on shares of Miami International from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Friday, October 9th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Miami International presently has an average rating of “Hold” and an average target price of $49.60.

Miami International Company Profile

Miami International Holdings, Inc (NYSE: MIAX) is a financial exchange operator that owns and manages regulated marketplaces for the trading of options and other securities. Through its exchange platforms, the company provides electronic trading, order matching, market data and related services to brokers, market makers, institutional investors and other market participants.

The company operates the MIAX exchange family, which includes MIAX, MIAX Pearl and MIAX Emerald, as well as related equities and options trading venues.