Miami International (NYSE:MIAX) Shares Up 4.1% - Should You Buy?

Key Points

• MIAX shares rose 4.1% to $37.55 in Friday trading, though volume was 93% below its average.
• The company beat quarterly earnings expectations, reporting $0.45 per share versus a $0.36 estimate; revenue rose 243.6% year over year to $376.18 million.
• Analyst sentiment is mostly neutral: five analysts rate the stock Hold and one rates it Buy, with a $49 consensus price target. Insiders have sold about $20 million in shares over the past 90 days.

Miami International Holdings, Inc. (NYSE:MIAX - Get Free Report)'s share price was up 4.1% during trading on Friday. The company traded as high as $36.94 and last traded at $37.5540. Approximately 107,725 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,546,843 shares. The stock had previously closed at $36.07.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Weiss Ratings upgraded Miami International from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday. Keefe, Bruyette & Woods increased their target price on shares of Miami International from $46.00 to $48.00 and gave the company a "market perform" rating in a research report on Friday, August 7th. Rosenblatt Securities lowered their price target on shares of Miami International from $62.00 to $60.00 and set a "buy" rating for the company in a report on Tuesday, October 27th. Zacks Research downgraded shares of Miami International from a "strong-buy" rating to a "hold" rating in a research report on Monday, October 26th. Finally, Morgan Stanley reduced their price objective 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. One investment analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $49.00.

Miami International Stock Performance

The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 13.91 and a beta of 1.73. The business has a 50 day moving average price of $35.07 and a 200-day moving average price of $40.96.

Miami International (NYSE:MIAX - Get Free Report) last announced its earnings results on Thursday, October 29th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.36 by $0.09. The company had revenue of $376.18 million for the quarter. Miami International had a return on equity of 19.06% and a net margin of 19.75%. The firm's revenue for the quarter was up 243.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.42 EPS. As a group, equities analysts predict that Miami International Holdings, Inc. will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Miami International news, CEO Thomas Gallagher sold 149,700 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $41.13, for a total transaction of $6,157,161.00. Following the transaction, the chief executive officer directly owned 1,423,275 shares in the company, valued at approximately $58,539,300.75. This represents a 9.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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 firm's stock in a transaction that occurred on 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 sale, the executive vice president directly owned 387,414 shares of the company's stock, 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 have sold a total of 517,574 shares of company stock valued at $20,002,691 over the last 90 days. 15.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Miami International

Several hedge funds and other institutional investors have recently bought and sold shares of MIAX. Atlas Wealth Partners LLC raised its holdings in shares of Miami International by 1.7% during the third quarter. Atlas Wealth Partners LLC now owns 39,190 shares of the company's stock valued at $1,313,000 after purchasing an additional 660 shares during the period. Nisa Investment Advisors LLC increased its position in Miami International by 42.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,641 shares of the company's stock valued at $88,000 after buying an additional 785 shares in the last quarter. Fifth Third Bancorp increased its position in Miami International by 98.0% in the 3rd quarter. Fifth Third Bancorp now owns 2,530 shares of the company's stock valued at $85,000 after buying an additional 1,252 shares in the last quarter. State of Wyoming increased its position in Miami International by 15.5% in the 3rd quarter. State of Wyoming now owns 10,755 shares of the company's stock valued at $360,000 after buying an additional 1,442 shares in the last quarter. Finally, Covestor Ltd raised its stake in Miami International by 321.5% during the 3rd quarter. Covestor Ltd now owns 2,508 shares of the company's stock worth $84,000 after buying an additional 1,913 shares during the period.

Miami International Company Profile

Miami International Holdings, Inc. (MIAX) operates financial exchanges and provides trading technology and related services. Its U.S. platforms include options exchanges and an equities exchange, serving market participants such as broker-dealers, institutional investors and trading firms. The company also operates MIAX Futures, which offers futures and options contracts, and owns the Bermuda Stock Exchange. Its businesses serve U.S. markets as well as participants in Bermuda and other international markets.

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