Miami International (NYSE:MIAX – Get Free Report) had its price target upped by stock analysts at Morgan Stanley from $50.00 to $53.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 20.60% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Rosenblatt Securities upped their price target on Miami International from $59.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Zacks Research lowered shares of Miami International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. raised their target price on Miami International from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a report on Friday, May 8th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.80.
View Our Latest Stock Report on Miami International
Miami International Trading Up 2.2%
Miami International (NYSE:MIAX – Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. The company had revenue of $369.69 million for the quarter, compared to the consensus estimate of $122.74 million. Miami International’s quarterly revenue was up 40.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 EPS. Sell-side analysts forecast that Miami International will post 1.53 EPS for the current year.
Insider Transactions at Miami International
In other news, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the business’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $47.25, for a total value of $2,268,000.00. Following the sale, the executive vice president owned 396,681 shares of the company’s stock, valued at $18,743,177.25. The trade was a 10.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 174,125 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $43.36, for a total transaction of $7,550,060.00. Following the transaction, the chief executive officer owned 1,723,275 shares of the company’s stock, valued at $74,721,204. The trade was a 9.18% 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. In the last 90 days, insiders sold 876,546 shares of company stock worth $38,552,360. Insiders own 15.60% of the company’s stock.
Institutional Investors Weigh In On Miami International
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mad River Investors raised its holdings in Miami International by 0.6% during the fourth quarter. Mad River Investors now owns 75,050 shares of the company’s stock worth $3,331,000 after acquiring an additional 450 shares in the last quarter. State of Wyoming bought a new position in Miami International in the fourth quarter valued at approximately $26,000. National Bank of Canada FI bought a new position in Miami International in the third quarter valued at approximately $29,000. First Trust Advisors LP increased its position in shares of Miami International by 3.5% during the 4th quarter. First Trust Advisors LP now owns 21,671 shares of the company’s stock worth $962,000 after purchasing an additional 733 shares during the last quarter. Finally, Coastal Bridge Advisors LLC increased its position in shares of Miami International by 1.1% during the 4th quarter. Coastal Bridge Advisors LLC now owns 77,415 shares of the company’s stock worth $3,436,000 after purchasing an additional 850 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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