Miami International (NYSE:MIAX) Upgraded to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded Miami International to “Buy” from “Hold,” though the broader analyst consensus remains “Hold,” with an average price target of $52.
• Miami International reported quarterly EPS of $0.48, beating estimates by $0.07, while revenue rose 34.8% year over year to $387.63 million.
• The stock opened at $43.60, down 0.7%, while insiders sold approximately $27.7 million worth of shares over the past 90 days; major institutions including BlackRock, Vanguard, and T. Rowe Price increased their holdings.

Miami International (NYSE:MIAX - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

A number of other research firms have also issued reports on MIAX. JPMorgan Chase & Co. boosted their price target on shares of Miami International from $41.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Rosenblatt Securities upped their target price on Miami International from $61.00 to $62.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Weiss Ratings restated a "hold (c)" rating on shares of Miami International in a report on Friday, August 7th. Morgan Stanley raised their price objective on Miami International from $50.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. Finally, Zacks Research downgraded shares of Miami International from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Miami International currently has a consensus rating of "Hold" and an average price target of $52.00.

Miami International Trading Down 0.7%

Shares of Miami International stock opened at $43.60 on Friday. The company's 50-day moving average price is $41.73 and its two-hundred day moving average price is $42.94. Miami International has a 52 week low of $28.99 and a 52 week high of $57.14. The stock has a market cap of $4.33 billion and a PE ratio of 56.62.

Miami International (NYSE:MIAX - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.41 by $0.07. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The business had revenue of $387.63 million during the quarter. During the same period in the prior year, the company earned $0.48 earnings per share. The firm's revenue for the quarter was up 34.8% on a year-over-year basis. On average, equities analysts predict that Miami International will post 1.69 EPS for the current fiscal year.

Insider Activity

In other news, CEO Thomas P. Gallagher sold 70,000 shares of the firm's stock in a transaction dated Tuesday, June 2nd. The shares were 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. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $42.84, for a total transaction of $2,056,320.00. Following the completion of the transaction, the executive vice president directly owned 396,681 shares of the company's stock, valued at $16,993,814.04. This trade represents a 10.79% 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. In the last 90 days, insiders sold 647,508 shares of company stock worth $27,701,038. 15.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MIAX. BlackRock Inc. acquired a new stake in Miami International during the 2nd quarter valued at $188,466,000. T. Rowe Price Investment Management Inc. raised its position in shares of Miami International by 24.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,025,712 shares of the company's stock valued at $134,282,000 after acquiring an additional 595,096 shares during the last quarter. Vanguard Group Inc. lifted its stake in Miami International by 39.5% in the fourth quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company's stock valued at $85,577,000 after buying an additional 545,770 shares during the period. Horizon Kinetics Asset Management LLC raised its position in shares of Miami International by 31.6% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 1,819,798 shares of the company's stock valued at $80,763,000 after acquiring an additional 437,395 shares during the period. Finally, Alyeska Investment Group L.P. raised its holdings in Miami International by 1.6% in the fourth 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 period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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