Miami International's (MIAX) "Buy" Rating Reaffirmed at Rosenblatt Securities

Key Points

• Rosenblatt Securities reaffirmed a "Buy" rating on Miami International with a $59 price target, implying about a 37.8% upside from the current price.
• Analyst sentiment is mixed — four Buy, four Hold and one Sell — leaving a MarketBeat consensus rating of "Hold" and a consensus target of $48.00.
• Miami International recently beat estimates, reporting $0.52 EPS vs. $0.41 expected and revenue of $369.43M (up 14% year-over-year), while shares trade around $42.83.

Miami International (NYSE:MIAX - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Rosenblatt Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $59.00 price objective on the stock. Rosenblatt Securities' target price points to a potential upside of 37.75% from the stock's current price.

A number of other research analysts also recently commented on MIAX. Zacks Research downgraded Miami International from a "strong-buy" rating to a "hold" rating in a report on Thursday, January 1st. Weiss Ratings restated a "sell (d+)" rating on shares of Miami International in a research note on Monday, December 29th. Wall Street Zen lowered shares of Miami International from a "buy" rating to a "hold" rating in a research note on Saturday, January 17th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Miami International from $43.00 to $44.00 and gave the stock a "market perform" rating in a research report on Thursday, November 6th. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $48.00.

Miami International Trading Up 0.0%

Shares of MIAX traded up $0.01 during midday trading on Thursday, hitting $42.83. The company had a trading volume of 85,557 shares, compared to its average volume of 1,320,642. The stock has a market cap of $3.49 billion and a PE ratio of 2,141.50. The firm has a 50 day moving average price of $42.50. Miami International has a 52 week low of $28.63 and a 52 week high of $51.38.

Miami International (NYSE:MIAX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 25th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.41 by $0.11. The company had revenue of $369.43 million for the quarter, compared to the consensus estimate of $121.13 million. The firm's revenue for the quarter was up 14.0% compared to the same quarter last year.

Insiders Place Their Bets

In other Miami International news, Director Murray Stahl sold 121,054 shares of the company's stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $40.92, for a total value of $4,953,529.68. Following the completion of the transaction, the director owned 4,689,466 shares in the company, valued at approximately $191,892,948.72. This represents a 2.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Hedge Funds Weigh In On Miami International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. bought a new position in Miami International in the 3rd quarter worth approximately $55,660,000. Alyeska Investment Group L.P. acquired a new position in Miami International during the 3rd quarter worth $50,959,000. Invesco Ltd. grew its stake in shares of Miami International by 178.8% in the fourth quarter. Invesco Ltd. now owns 1,278,966 shares of the company's stock worth $56,761,000 after purchasing an additional 820,246 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Miami International during the third quarter valued at $32,679,000. Finally, North Reef Capital Management LP bought a new stake in shares of Miami International during the third quarter valued at about $29,221,000.

Miami International Company Profile

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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