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

Miami International (NYSE:MIAX) posted its earnings results on Wednesday. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07, FiscalAI reports. The business had revenue of $387.63 million for the quarter. During the same quarter in the previous year, the business earned $0.48 earnings per share. The business’s revenue for the quarter was up 34.8% on a year-over-year basis.

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 Price Performance

MIAX stock traded down $0.62 during trading on Thursday, hitting $45.34. 832,622 shares of the stock traded hands, compared to its average volume of 1,543,516. Miami International has a 1 year low of $28.63 and a 1 year high of $57.14. The firm’s 50 day moving average is $41.66 and its two-hundred day moving average is $42.92. The stock has a market cap of $4.30 billion and a price-to-earnings ratio of 47.23.

Insider Activity

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

Institutional Trading of Miami International

A number of institutional investors and hedge funds have recently modified their holdings of the business. Handelsbanken Fonder AB bought a new position in shares of Miami International during the second quarter valued at $743,000. Sapient Capital LLC bought a new stake in Miami International in the 2nd quarter worth about $989,000. Assenagon Asset Management S.A. bought a new stake in Miami International in the 2nd quarter worth about $11,067,000. NewEdge Advisors LLC purchased a new position in Miami International in the 1st quarter worth about $1,519,000. Finally, Bank of America Corp DE raised its position 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 buying an additional 597,021 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Wall Street Zen lowered Miami International from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Zacks Research lowered Miami International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Morgan Stanley boosted their target price on shares of Miami International from $50.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, July 10th. Keefe, Bruyette & Woods increased their price target on shares of Miami International from $40.00 to $48.00 and gave the stock a “market perform” rating in a research note on Friday, May 8th. Finally, Weiss Ratings raised shares of Miami International from a “sell (d+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.00.

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.