Miami International (NYSE:MIAX) Shares Climb 4.1% – Here’s What Happened

Miami International Holdings, Inc. (NYSE:MIAX)’s share price was up 4.1% during trading on Friday. The company traded as high as $36.94 and last traded at $37.5540. 107,725 shares changed hands during trading, a decline of 93% from the average daily volume of 1,546,843 shares. The stock had previously closed at $36.07.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MIAX shares. Wall Street Zen lowered Miami International from a “buy” rating to a “hold” rating in a research note on Sunday, August 23rd. Zacks Research downgraded shares of Miami International from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 26th. Morgan Stanley decreased their price objective on shares of Miami International from $50.00 to $43.00 and set an “equal weight” rating for the company in a report on Friday, October 9th. Keefe, Bruyette & Woods upped their price objective on shares of Miami International from $46.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, August 7th. Finally, Rosenblatt Securities dropped their target price on shares of Miami International from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, October 27th. One equities research analyst has rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Miami International has a consensus rating of “Hold” and a consensus target price of $49.00.

Miami International Stock Performance

The stock has a market cap of $3.70 billion, a P/E ratio of 13.71 and a beta of 1.73. The firm has a 50-day moving average price of $34.95 and a 200-day moving average price of $40.94.

Miami International (NYSE:MIAX) last released its earnings results on Thursday, October 29th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09. Miami International had a return on equity of 19.06% and a net margin of 19.75%. The company had revenue of $376.18 million during the quarter. During the same quarter in the previous year, the business earned $0.42 EPS. The company’s revenue for the quarter was up 243.6% compared to the same quarter last year. On average, research analysts predict that Miami International Holdings, Inc. will post 1.76 earnings per share for the current year.

Insider Transactions at Miami International

In other Miami International news, EVP Douglas M. Schafer, Jr. sold 48,000 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $40.48, for a total value of $1,943,040.00. Following the sale, the executive vice president owned 387,414 shares in the company, valued at approximately $15,682,518.72. This represents a 11.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Shelly Brown sold 21,217 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $38.61, for a total transaction of $819,188.37. Following the transaction, the executive vice president directly owned 316,490 shares of the company’s stock, valued at $12,219,678.90. This represents a 6.28% 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 a total of 517,574 shares of company stock worth $20,002,691 in the last ninety days. 15.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Atlas Wealth Partners LLC lifted its stake in shares of Miami International by 1.7% in the third quarter. Atlas Wealth Partners LLC now owns 39,190 shares of the company’s stock worth $1,313,000 after buying an additional 660 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Miami International by 42.3% during the third quarter. Nisa Investment Advisors LLC now owns 2,641 shares of the company’s stock valued at $88,000 after buying an additional 785 shares during the last quarter. Fifth Third Bancorp increased its position in shares of Miami International by 98.0% during the third quarter. Fifth Third Bancorp now owns 2,530 shares of the company’s stock valued at $85,000 after acquiring an additional 1,252 shares in the last quarter. State of Wyoming raised its holdings in Miami International by 15.5% in the 3rd quarter. State of Wyoming now owns 10,755 shares of the company’s stock worth $360,000 after acquiring an additional 1,442 shares during the last quarter. Finally, Covestor Ltd lifted its position in Miami International by 321.5% in the 3rd quarter. Covestor Ltd now owns 2,508 shares of the company’s stock valued at $84,000 after acquiring an additional 1,913 shares in the last quarter.

Miami International Company Profile

Miami International Holdings, Inc. (MIAX) operates financial exchanges and provides trading technology and related services. Its U.S. platforms include options exchanges and an equities exchange, serving market participants such as broker-dealers, institutional investors and trading firms. The company also operates MIAX Futures, which offers futures and options contracts, and owns the Bermuda Stock Exchange. Its businesses serve U.S. markets as well as participants in Bermuda and other international markets.