Miami International (NYSE:MIAX – Get Free Report) was downgraded by equities research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued on Tuesday, Marketbeat Ratings reports. They currently have a $50.00 target price on the stock. Morgan Stanley’s price objective points to a potential upside of 16.80% from the company’s previous close.
Several other research analysts have also issued reports on MIAX. Zacks Research lowered Miami International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Keefe, Bruyette & Woods upped their price objective on Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, August 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Miami International in a research note on Friday, August 7th. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a report on Sunday, August 23rd. Finally, JPMorgan Chase & Co. upped their price target on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $51.40.
View Our Latest Research Report on Miami International
Miami International Stock Down 0.4%
Miami International (NYSE:MIAX – Get Free Report) last released its quarterly 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. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The firm had revenue of $387.63 million for the quarter. During the same quarter last year, the firm earned $0.48 earnings per share. Miami International’s quarterly revenue was up 34.8% on a year-over-year basis. On average, research analysts expect that Miami International will post 1.69 EPS for the current year.
Insider Buying and Selling
In other Miami International news, EVP Barbara J. Comly sold 44,445 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $45.69, for a total value of $2,030,692.05. Following the sale, the executive vice president owned 882,984 shares in the company, valued at $40,343,538.96. This represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 149,700 shares of the stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $41.13, for a total value of $6,157,161.00. Following the completion of the sale, the chief executive officer owned 1,423,275 shares in the company, valued at approximately $58,539,300.75. This trade represents a 9.52% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 615,958 shares of company stock worth $26,146,369 over the last 90 days. Company insiders own 15.60% of the company’s stock.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets bought a new stake in shares of Miami International during the 4th quarter worth approximately $8,477,000. Vanguard Group Inc. boosted its holdings in shares of Miami International by 39.5% in the 4th quarter. Vanguard Group Inc. now owns 1,928,286 shares of the company’s stock valued at $85,577,000 after purchasing an additional 545,770 shares in the last quarter. Philadelphia Financial Management of San Francisco LLC bought a new position in shares of Miami International in the 2nd quarter valued at $8,313,249. Arrowstreet Capital Limited Partnership acquired a new position in shares of Miami International during the 1st quarter worth $5,834,000. Finally, Renaissance Technologies LLC lifted its position in shares of Miami International by 39.2% during the 1st quarter. Renaissance Technologies LLC now owns 271,500 shares of the company’s stock worth $10,567,000 after buying an additional 76,401 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.
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