Miami International (NYSE:MIAX) Stock Gets Price Target Trim from Morgan Stanley

Miami International (NYSE:MIAX) had its price target decreased by Morgan Stanley from $50.00 to $43.00 in a report published on Friday, Marketbeat Ratings reports. Morgan Stanley currently has an equal weight rating on the stock.

MIAX has been the subject of several other research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $62.00 target price on shares of Miami International in a research note on Friday, October 2nd. Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, August 23rd. Weiss Ratings restated a “hold (c)” rating on shares of Miami International in a research note on Friday, August 7th. Keefe, Bruyette & Woods upped their price target on shares of Miami International from $46.00 to $48.00 and gave the company a “market perform” rating in a research note on Friday, August 7th. Finally, Zacks Research raised shares of Miami International from a “hold” rating to a “strong-buy” rating in a report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $50.00.

Miami International Stock Performance

MIAX stock opened at $30.68 on Friday. The stock has a fifty day moving average of $39.94 and a 200-day moving average of $42.37. Miami International has a fifty-two week low of $29.21 and a fifty-two week high of $57.14. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 39.85 and a beta of 1.79.

Miami International (NYSE:MIAX) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.07. The business had revenue of $387.63 million for the quarter. Miami International had a return on equity of 16.95% and a net margin of 9.70%. The company’s revenue was up 34.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Equities analysts predict that Miami International will post 1.69 EPS for the current year.

Insider Activity at Miami International

In related news, EVP Shelly Brown sold 21,217 shares of the stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $38.61, for a total transaction of $819,188.37. Following the sale, the executive vice president owned 316,490 shares of the company’s stock, valued at approximately $12,219,678.90. This represents a 6.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Edward Deitzel sold 11,000 shares of the stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $42.21, for a total value of $464,310.00. Following the sale, the executive vice president directly owned 119,601 shares in the company, valued at $5,048,358.21. This trade represents a 8.42% 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. Insiders sold a total of 497,415 shares of company stock worth $20,696,726 in the last 90 days. 15.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Miami International

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlueCrest Capital Management Ltd purchased a new stake in shares of Miami International in the second quarter worth about $7,432,000. NewEdge Advisors LLC grew its stake in Miami International by 1,646.6% during the second quarter. NewEdge Advisors LLC now owns 681,610 shares of the company’s stock valued at $25,329,000 after acquiring an additional 642,585 shares in the last quarter. One Charles Private Wealth Services LLC purchased a new position in Miami International during the second quarter valued at approximately $4,400,000. Allianz Asset Management GmbH purchased a new position in Miami International during the second quarter valued at approximately $13,350,000. Finally, HighTower Advisors LLC increased its holdings in Miami International by 290.6% during the 2nd quarter. HighTower Advisors LLC now owns 112,298 shares of the company’s stock worth $4,173,000 after acquiring an additional 83,547 shares during the period.

Miami International Company Profile

Miami International Holdings, Inc operates financial markets and exchange platforms through its MIAX Exchange Group. The company provides electronic trading venues, market data, and related technology for options and other securities, with an emphasis on high-performance execution and competitive market structure.

Its U.S. exchange portfolio includes the MIAX, MIAX Pearl, MIAX Emerald, and MIAX Sapphire options exchanges, as well as MIAX Pearl Equities. These venues support trading in listed options and equities and are designed to serve market makers, institutional investors, broker-dealers, and other market participants.

Miami International Holdings was founded in 2007, and its flagship MIAX options exchange began operations in 2012.