Rosenblatt Securities Issues Positive Forecast for Miami International (NYSE:MIAX) Stock Price

Miami International (NYSE:MIAX) had its price objective boosted by equities researchers at Rosenblatt Securities from $61.00 to $62.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 35.16% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Miami International from $40.00 to $48.00 and gave the company a “market perform” rating in a research note on Friday, May 8th. Zacks Research cut Miami International from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Morgan Stanley upped their price objective on shares of Miami International from $50.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, July 10th. Wall Street Zen lowered shares of Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Finally, JPMorgan Chase & Co. increased their price target 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. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $52.00.

Miami International Price Performance

Miami International stock opened at $45.87 on Thursday. The firm has a market capitalization of $4.35 billion and a P/E ratio of 47.78. Miami International has a one year low of $28.63 and a one year high of $57.14. The business has a fifty day moving average price of $41.66 and a 200-day moving average price of $42.92.

Miami International (NYSE:MIAX) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.07. The company had revenue of $387.63 million for the quarter. During the same quarter last year, the business earned $0.48 earnings per share. The business’s quarterly revenue was up 34.8% compared to the same quarter last year. Sell-side analysts expect that Miami International will post 1.59 earnings per share for the current fiscal year.

Insider Transactions at Miami International

In related news, EVP Barbara J. Comly sold 28,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $42.85, for a total value of $1,199,800.00. Following the completion of the sale, the executive vice president owned 843,844 shares in the company, valued at $36,158,715.40. The trade was a 3.21% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Douglas M. Schafer, Jr. sold 48,000 shares of Miami International stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $42.84, for a total transaction of $2,056,320.00. Following the transaction, the executive vice president directly owned 396,681 shares in the company, valued at $16,993,814.04. This trade represents a 10.79% 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. In the last quarter, insiders sold 555,000 shares of company stock valued at $23,841,231. 15.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of MIAX. Vanguard Group Inc. bought a new stake in shares of Miami International in the 3rd quarter valued at about $55,660,000. Alyeska Investment Group L.P. bought a new position in Miami International during the 3rd quarter worth approximately $50,959,000. Invesco Ltd. increased its stake in Miami International by 178.8% in the 4th quarter. Invesco Ltd. now owns 1,278,966 shares of the company’s stock worth $56,761,000 after purchasing an additional 820,246 shares during the period. Bank of America Corp DE increased its stake in Miami International by 196.5% in the 1st quarter. Bank of America Corp DE now owns 900,882 shares of the company’s stock worth $35,062,000 after purchasing an additional 597,021 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its position in Miami International by 24.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,025,712 shares of the company’s stock valued at $134,282,000 after purchasing an additional 595,096 shares during the last quarter.

Miami International Company Profile

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.