Miami International (NYSE:MIAX) Posts Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Miami International (NYSE:MIAX) posted its earnings results on Wednesday. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.12, Briefing.com reports. During the same period in the previous year, the company earned $0.11 earnings per share. The company’s revenue was up 57.4% on a year-over-year basis.

Miami International Stock Up 3.5%

Shares of MIAX stock opened at $45.88 on Thursday. The stock’s 50 day simple moving average is $40.72. Miami International has a 12-month low of $28.63 and a 12-month high of $46.04.

Analyst Ratings Changes

MIAX has been the subject of several research reports. Piper Sandler boosted their target price on Miami International from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Tuesday. Keefe, Bruyette & Woods assumed coverage on Miami International in a research note on Monday, September 8th. They set a “market perform” rating and a $37.00 price objective for the company. Zacks Research raised Miami International to a “hold” rating in a research note on Tuesday, September 9th. JPMorgan Chase & Co. upped their price objective on Miami International from $32.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Wall Street Zen raised Miami International to a “hold” rating in a research note on Saturday, August 23rd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.80.

Insider Activity

In other Miami International news, Director Murray Stahl bought 34,470 shares of the business’s stock in a transaction dated Thursday, August 28th. The stock was acquired at an average cost of $36.10 per share, with a total value of $1,244,367.00. Following the purchase, the director owned 4,557,919 shares in the company, valued at approximately $164,540,875.90. This represents a 0.76% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders purchased 34,476 shares of company stock worth $1,244,618.

About Miami International

We are a technology-driven leader in building and operating regulated financial marketplaces across multiple asset classes and geographies. Our MIAX Exchanges, MIAX Futures and BSX marketplaces are enabled by our in-house built, proprietary technology. We believe the speed and performance of our proprietary technology coupled with our fully integrated, award-winning customer service, sets us apart from our competitors.