Miami International (NYSE:MIAX) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Miami International (NYSE:MIAX) had its price objective raised by research analysts at Keefe, Bruyette & Woods from $40.00 to $48.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential downside of 2.78% from the stock’s previous close.

Several other equities analysts have also recently issued reports on MIAX. JPMorgan Chase & Co. upped their price objective on Miami International from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday. Wall Street Zen cut Miami International from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Zacks Research raised Miami International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Miami International in a report on Friday, March 27th. Finally, Morgan Stanley increased their price target on Miami International from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, April 10th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.20.

Miami International Trading Down 0.8%

MIAX stock opened at $49.38 on Friday. The stock has a market capitalization of $4.68 billion and a PE ratio of 91.45. Miami International has a 12-month low of $28.63 and a 12-month high of $51.38. The stock’s 50 day simple moving average is $42.13 and its 200 day simple moving average is $43.25.

Miami International (NYSE:MIAX) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $369.69 million during the quarter, compared to the consensus estimate of $122.74 million. The business’s revenue was up 40.0% compared to the same quarter last year. During the same period last year, the company posted $0.38 earnings per share. On average, research analysts predict that Miami International will post 1.45 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kurt M. Eckert sold 37,917 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $39.00, for a total value of $1,478,763.00. Following the transaction, the director directly owned 142,375 shares of the company’s stock, valued at approximately $5,552,625. This trade represents a 21.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas P. Gallagher sold 174,125 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $43.36, for a total value of $7,550,060.00. Following the completion of the transaction, the chief executive officer directly owned 1,723,275 shares in the company, valued at approximately $74,721,204. This represents a 9.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 687,175 shares of company stock worth $29,675,666 in the last quarter.

Hedge Funds Weigh In On Miami International

Institutional investors have recently bought and sold shares of the stock. State of Wyoming bought a new position in Miami International in the 4th quarter worth $26,000. National Bank of Canada FI bought a new position in Miami International in the 3rd quarter worth $29,000. Comerica Bank raised its holdings in Miami International by 295.6% in the 4th quarter. Comerica Bank now owns 1,254 shares of the company’s stock worth $56,000 after purchasing an additional 937 shares during the period. Fifth Third Bancorp bought a new position in Miami International in the 1st quarter worth $61,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in Miami International in the 4th quarter worth $66,000.

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.