Miami International (NYSE:MIAX) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Keefe, Bruyette & Woods raised its price target on Miami International from $40 to $48 while keeping a "market perform" rating, and the stock's consensus among analysts is a "Moderate Buy" with an average target of $51.20.
• Miami International beat expectations for the quarter, reporting $0.42 EPS versus $0.36 expected and revenue of $369.69 million versus a $122.74 million consensus, with revenue up 40% year-over-year.
• Insiders have been net sellers, with company insiders selling 687,175 shares worth about $29.7 million over the last three months, including recent Rule 10b5-1 plan sales by a director and the EVP.

Miami International (NYSE:MIAX - Get Free Report) had its target price raised by equities research analysts at Keefe, Bruyette & Woods from $40.00 to $48.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a "market perform" rating on the stock. Keefe, Bruyette & Woods' price objective indicates a potential downside of 2.78% from the company's previous close.

MIAX has been the subject of a number of other research reports. Zacks Research raised Miami International from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 15th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Miami International in a report on Friday, March 27th. Morgan Stanley upped their target price on Miami International from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Friday, April 10th. Rosenblatt Securities upped their target price on Miami International from $59.00 to $61.00 and gave the stock a "buy" rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their target price on Miami International from $41.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $51.20.

Miami International Price Performance

MIAX opened at $49.38 on Friday. The business has a 50 day simple moving average of $42.13 and a two-hundred day simple moving average of $43.25. The firm has a market capitalization of $4.68 billion and a price-to-earnings ratio of 91.45. Miami International has a one year low of $28.63 and a one year high of $51.38.

Miami International (NYSE:MIAX - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. The business had revenue of $369.69 million for the quarter, compared to the consensus estimate of $122.74 million. The company's revenue for the quarter was up 40.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 EPS. As a group, sell-side analysts expect that Miami International will post 1.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Judson Gray Teekell sold 3,000 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $47.30, for a total value of $141,900.00. Following the sale, the director owned 56,338 shares in the company, valued at $2,664,787.40. This represents a 5.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Edward Deitzel sold 11,000 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $47.28, for a total value of $520,080.00. Following the completion of the sale, the executive vice president owned 116,221 shares in the company, valued at $5,494,928.88. The trade was a 8.65% 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. Insiders have sold a total of 687,175 shares of company stock worth $29,675,666 over the last three months.

Institutional Trading of Miami International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Wyoming purchased a new stake in shares of Miami International in the 4th quarter worth approximately $26,000. National Bank of Canada FI bought a new position in Miami International in the 3rd quarter valued at approximately $29,000. Comerica Bank lifted its position in Miami International by 295.6% in the 4th quarter. Comerica Bank now owns 1,254 shares of the company's stock valued at $56,000 after acquiring an additional 937 shares in the last quarter. Fifth Third Bancorp bought a new position in Miami International in the 1st quarter valued at approximately $61,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Miami International in the 4th quarter valued at approximately $66,000.

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.

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