Miami International (NYSE:MIAX) Posts Earnings Results, Beats Estimates By $0.07 EPS

Miami International (NYSE:MIAX) announced its quarterly earnings results on Wednesday. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.07, FiscalAI reports. The company had revenue of $387.63 million during the quarter. Miami International had a return on equity of 17.98% and a net margin of 9.70%.Miami International’s revenue for the quarter was up 34.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.48 earnings per share.

Here are the key takeaways from Miami International’s conference call:

• Record Q2 results: Net revenue rose 35% year over year to $141 million, adjusted EBITDA increased 57% to $77 million, and the adjusted EBITDA margin expanded to 54% from 47%, reflecting strong options volumes and operating leverage.
• MIAX launched its first Bloomberg financial futures products, with liquidity and volumes tracking management’s expectations; several retail firms are working through connectivity and clearing arrangements, with customer activity expected to begin over the next several weeks.
• Options market share declined to 16.5% from 17.3% in Q1, while management cautioned that Q2’s elevated $0.124 revenue per contract was not sustainable and expects second-half RPC to return closer to the prior range.
• The company lowered 2026 adjusted operating-expense guidance to $260 million–$270 million from $265 million–$275 million, while retaining its $40 million–$45 million capital-expenditure outlook and ending Q2 with $660 million in cash and less than $2 million of debt.

Miami International Stock Performance

MIAX traded down $0.97 during trading on Friday, reaching $44.49. The stock had a trading volume of 607,682 shares, compared to its average volume of 1,545,572. The business has a 50-day moving average of $41.61 and a 200-day moving average of $42.93. Miami International has a one year low of $28.63 and a one year high of $57.14. The stock has a market cap of $4.22 billion and a PE ratio of 57.86.

Insiders Place Their Bets

In related news, EVP Edward Deitzel sold 11,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $45.78, for a total transaction of $503,580.00. Following the completion of the sale, the executive vice president directly owned 119,601 shares in the company, valued at $5,475,333.78. This represents a 8.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Barbara J. Comly sold 44,445 shares of the stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $45.69, for a total value of $2,030,692.05. Following the sale, the executive vice president directly owned 882,984 shares of the company’s stock, valued at approximately $40,343,538.96. This trade represents a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 682,508 shares of company stock valued at $29,673,638 over the last 90 days. Company insiders own 15.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Miami International in the second quarter worth $188,466,000. Deutsche Bank AG purchased a new stake in shares of Miami International in the 2nd quarter worth about $2,789,000. Bank of New York Mellon Corp bought a new position in shares of Miami International in the 2nd quarter worth about $8,190,000. Focus Partners Advisor Solutions LLC purchased a new position in Miami International during the 2nd quarter valued at about $5,081,000. Finally, State of Wyoming purchased a new position in Miami International during the 2nd quarter valued at about $346,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MIAX shares. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. 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. Weiss Ratings raised shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Morgan Stanley upped their price target on shares of Miami International from $50.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Finally, Keefe, Bruyette & Woods boosted their target price on Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a research report on Friday. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $52.00.

Key Miami International News

Here are the key news stories impacting Miami International this week:

• Positive Sentiment: MIAX reported record second-quarter net revenue of $141.1 million, up 35% year over year. Adjusted diluted EPS was $0.48, exceeding the $0.41 consensus estimate, while adjusted EBITDA rose 57% to $77 million and the margin expanded to 54%. Miami International Holdings Reports Second Quarter 2026 Results
• Positive Sentiment: July trading activity remained healthy: multi-list options average daily volume increased 26.3% year to date, supporting expectations for continued transaction-based revenue growth. MIAX July 2026 Trading Results
• Positive Sentiment: Rosenblatt Securities maintained a “buy” rating and raised its price target to $62 from $61. Keefe, Bruyette & Woods also increased its target to $48 from $46, implying moderate upside, though it retained a “market perform” rating. Analyst price-target updates
• Neutral Sentiment: Analyst sentiment remains mixed. Four analysts rate MIAX a Buy and five rate it Hold, with a consensus target near $52. The stock’s relatively high valuation—about 59 times earnings—may limit gains if its rapid growth slows.
• Negative Sentiment: Insiders reported sales totaling approximately 127,500 shares worth $5.8 million, including transactions by four executive vice presidents and two directors. The sales were executed under pre-arranged Rule 10b5-1 plans, and the insiders continue to hold substantial positions, which softens but does not eliminate the negative signal. MIAX Insider Selling

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.