Rosenblatt Securities Forecasts Strong Price Appreciation for Miami International (NYSE:MIAX) Stock

Key Points

• Rosenblatt Securities raised its MIAX price target to $62 from $61 and maintained a “buy” rating, implying 35.16% upside from the prior close. However, the broader analyst consensus remains “Hold,” with a $52 average target.
• Miami International reported quarterly EPS of $0.48, beating estimates of $0.41, while revenue reached $387.63 million—up 34.8% year over year.
• MIAX shares opened at $45.87, with a $4.35 billion market capitalization. Insiders have sold 555,000 shares worth approximately $23.8 million over the past 90 days, while several institutional investors increased their holdings.

Miami International (NYSE:MIAX - Get Free Report) had its target price upped by analysts at Rosenblatt Securities from $61.00 to $62.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Rosenblatt Securities' price objective suggests a potential upside of 35.16% from the company's previous close.

A number of other analysts have also commented on MIAX. Morgan Stanley boosted their price target on shares of Miami International from $50.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, July 10th. JPMorgan Chase & Co. upped their target price on shares of Miami International from $41.00 to $45.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Keefe, Bruyette & Woods boosted their price objective on Miami International from $40.00 to $48.00 and gave the stock a "market perform" rating in a report on Friday, May 8th. Wall Street Zen cut Miami International from a "buy" rating to a "hold" rating in a research report on Sunday, May 17th. Finally, Zacks Research lowered Miami International from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $52.00.

Miami International Trading Up 1.2%

MIAX opened at $45.87 on Thursday. The company has a market cap of $4.35 billion and a P/E ratio of 47.78. The company has a fifty day moving average price of $41.66 and a two-hundred day moving average price of $42.92. Miami International has a 1-year low of $28.63 and a 1-year high of $57.14.

Miami International (NYSE:MIAX - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.07. The firm had revenue of $387.63 million during the quarter. Miami International's quarterly revenue was up 34.8% compared to the same quarter last year. During the same period last year, the firm earned $0.48 earnings per share. On average, research analysts forecast that Miami International will post 1.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the firm's stock in a transaction on 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 sale, 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. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Lance Emmons sold 35,000 shares of the business's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $56.36, for a total transaction of $1,972,600.00. Following the completion of the transaction, the chief financial officer directly owned 84,262 shares in the company, valued at $4,749,006.32. This trade represents a 29.35% decrease in their ownership of the stock. 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 555,000 shares of company stock worth $23,841,231 over the last 90 days. Company insiders own 15.60% of the company's stock.

Hedge Funds Weigh In On Miami International

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. purchased a new position in shares of Miami International during the 3rd quarter valued at $55,660,000. Alyeska Investment Group L.P. purchased a new stake in Miami International in the 3rd quarter worth about $50,959,000. Invesco Ltd. raised its stake in Miami International by 178.8% in the 4th quarter. Invesco Ltd. now owns 1,278,966 shares of the company's stock valued at $56,761,000 after acquiring an additional 820,246 shares during the period. Bank of America Corp DE raised its stake in Miami International by 196.5% in the 1st quarter. Bank of America Corp DE now owns 900,882 shares of the company's stock valued at $35,062,000 after acquiring an additional 597,021 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in Miami International by 24.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,025,712 shares of the company's stock valued at $134,282,000 after purchasing an additional 595,096 shares during the last quarter.

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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