Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Miami International (NYSE:MIAX) Stock

Miami International (NYSE:MIAX) had its target price lifted by equities research analysts at Keefe, Bruyette & Woods from $43.00 to $44.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential downside of 9.74% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Morgan Stanley upped their price objective on shares of Miami International from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday. Rosenblatt Securities initiated coverage on Miami International in a research note on Monday, September 8th. They set a “buy” rating and a $50.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on Miami International from $32.00 to $37.00 and gave the stock a “neutral” rating in a research report on Tuesday. Piper Sandler boosted their price objective on Miami International from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Raymond James Financial initiated coverage on shares of Miami International in a research report on Monday, September 8th. They set a “market perform” rating on the stock. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $47.20.

Miami International Stock Up 3.7%

Miami International stock traded up $1.73 during mid-day trading on Thursday, hitting $48.75. The company had a trading volume of 596,568 shares, compared to its average volume of 396,894. Miami International has a 1 year low of $28.63 and a 1 year high of $49.27. The business has a fifty day moving average of $41.18.

Miami International (NYSE:MIAX) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. The business’s revenue was up 57.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.11 EPS.

Insider Buying and Selling at Miami International

In related news, Director Murray Stahl bought 34,470 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were acquired at an average price of $36.10 per share, with a total value of $1,244,367.00. Following the completion of the acquisition, the director owned 4,557,919 shares in the company, valued at approximately $164,540,875.90. This trade represents a 0.76% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders purchased 34,476 shares of company stock valued at $1,244,618.

Institutional Investors Weigh In On Miami International

Several hedge funds have recently modified their holdings of MIAX. Caprock Group LLC acquired a new position in Miami International in the 3rd quarter valued at $376,000. Readystate Asset Management LP acquired a new position in shares of Miami International during the third quarter worth about $503,000. JPMorgan Chase & Co. purchased a new position in Miami International during the third quarter worth about $32,679,000. Vanguard Group Inc. purchased a new position in Miami International during the third quarter worth about $55,660,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in Miami International in the third quarter valued at about $17,684,000.

Miami International Company Profile

We are a technology-driven leader in building and operating regulated financial marketplaces across multiple asset classes and geographies. Our MIAX Exchanges, MIAX Futures and BSX marketplaces are enabled by our in-house built, proprietary technology. We believe the speed and performance of our proprietary technology coupled with our fully integrated, award-winning customer service, sets us apart from our competitors.