Miami International (NYSE:MIAX) Posts Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Miami International (NYSE:MIAX) posted its earnings results on Wednesday. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.11, Zacks reports.

Miami International Stock Up 3.4%

MIAX traded up $1.36 during midday trading on Wednesday, reaching $40.92. 1,900,770 shares of the company’s stock were exchanged, compared to its average volume of 1,262,072. Miami International has a 1-year low of $28.63 and a 1-year high of $51.38. The firm has a market cap of $3.33 billion and a PE ratio of 2,045.75. The company’s 50-day moving average price is $42.93.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Miami International from $32.00 to $37.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Rosenblatt Securities reissued a “buy” rating and issued a $55.00 price objective on shares of Miami International in a research note on Tuesday, December 9th. Piper Sandler boosted their target price on Miami International from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Weiss Ratings restated a “sell (d+)” rating on shares of Miami International in a research report on Monday, December 29th. Finally, Zacks Research lowered shares of Miami International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $47.20.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MIAX. HighTower Advisors LLC boosted its stake in shares of Miami International by 19.3% during the 4th quarter. HighTower Advisors LLC now owns 6,172 shares of the company’s stock worth $274,000 after purchasing an additional 997 shares during the last quarter. Quantessence Capital LLC purchased a new position in shares of Miami International during the third quarter valued at approximately $342,000. Raymond James Financial Inc. purchased a new position in shares of Miami International during the third quarter valued at approximately $519,000. Man Group plc acquired a new stake in Miami International during the third quarter worth approximately $443,000. Finally, Squarepoint Ops LLC acquired a new position in Miami International in the 3rd quarter valued at $415,000.

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.