Miami International (NYSE:MIAX) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Miami International (NYSE:MIAX) announced its quarterly earnings data on Thursday. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.09, FiscalAI reports. The business had revenue of $376.18 million for the quarter. Miami International had a net margin of 9.70% and a return on equity of 16.95%. The business’s revenue was up 243.6% compared to the same quarter last year. During the same period last year, the business earned $0.42 earnings per share.

Here are the key takeaways from Miami International’s conference call:

• Third-quarter net revenue rose 20% year over year to $131 million, while adjusted EBITDA increased to $71 million and the margin expanded to 54% from 44% a year ago.
• The options business continued to gain traction, with average daily volume up 15% and market share rising to 17.4%; the Sapphire trading floor captured more than 12% of industry multi-listed trading-floor volume.
• Options revenue per contract fell to $0.098 from $0.11 in the first quarter, primarily due to July pricing changes and the revised options regulatory fee structure; management views approximately $0.10 as a reasonable near-term reset point.
• Management lowered full-year 2026 adjusted operating-expense guidance to $254 million–$257 million from $260 million–$270 million, while maintaining its expectation for continued margin expansion despite investments in new products.
• Bloomberg Financial Futures remain in the early launch phase, with NinjaTrader now distributing the products and additional retail platforms expected; MIAX is also expanding its agricultural futures lineup and plans to pursue filings for binary index and KPI options.

Miami International Stock Performance

Shares of MIAX stock traded up $1.47 during mid-day trading on Friday, hitting $32.91. The company’s stock had a trading volume of 1,081,737 shares, compared to its average volume of 1,560,801. The company’s fifty day simple moving average is $36.62 and its 200-day simple moving average is $41.36. Miami International has a 52 week low of $29.06 and a 52 week high of $57.14. The company has a market cap of $3.27 billion, a PE ratio of 42.81 and a beta of 1.79.

Insider Activity at Miami International

In other news, EVP Barbara J. Comly sold 12,306 shares of Miami International stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of $35.04, for a total value of $431,202.24. Following the completion of the sale, the executive vice president owned 839,564 shares in the company, valued at $29,418,322.56. The trade was a 1.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Thomas P. Gallagher sold 47,000 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $42.43, for a total transaction of $1,994,210.00. Following the transaction, the chief executive officer owned 1,423,275 shares in the company, valued at $60,389,558.25. The trade was a 3.20% 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 517,721 shares of company stock worth $21,408,408 over the last quarter. 15.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Miami International

A number of large investors have recently bought and sold shares of MIAX. Fifth Third Bancorp bought a new stake in shares of Miami International during the first quarter valued at approximately $61,000. New York State Teachers Retirement System bought a new position in shares of Miami International in the 1st quarter worth $84,000. Sterling Capital Management LLC grew its position in Miami International by 857.2% in the 3rd quarter. Sterling Capital Management LLC now owns 2,575 shares of the company’s stock valued at $86,000 after purchasing an additional 2,306 shares during the period. Nisa Investment Advisors LLC grew its position in Miami International by 42.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,641 shares of the company’s stock valued at $88,000 after purchasing an additional 785 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in Miami International during the 3rd quarter valued at $108,000.

Analyst Ratings Changes

Several brokerages recently issued reports on MIAX. Weiss Ratings lowered shares of Miami International from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday. Zacks Research downgraded Miami International from a “strong-buy” rating to a “hold” rating in a research note on Monday. Morgan Stanley cut their target price on shares of Miami International from $50.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Friday, October 9th. Keefe, Bruyette & Woods lifted their price target 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 decreased their price objective on Miami International from $62.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.60.

Miami International Company Profile

Miami International Holdings, Inc (NYSE: MIAX) is a financial exchange operator that owns and manages regulated marketplaces for the trading of options and other securities. Through its exchange platforms, the company provides electronic trading, order matching, market data and related services to brokers, market makers, institutional investors and other market participants.

The company operates the MIAX exchange family, which includes MIAX, MIAX Pearl and MIAX Emerald, as well as related equities and options trading venues.