MediaAlpha (NYSE:MAX) Trading 9% Higher

MediaAlpha, Inc. (NYSE:MAX)’s share price traded up 9% during mid-day trading on Tuesday . The company traded as high as $20.53 and last traded at $20.49. 125,380 shares traded hands during trading, a decline of 56% from the average session volume of 283,841 shares. The stock had previously closed at $18.79.

Wall Street Analyst Weigh In

MAX has been the subject of several recent research reports. Royal Bank of Canada raised their price target on shares of MediaAlpha from $12.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. TD Cowen began coverage on MediaAlpha in a report on Wednesday, January 10th. They issued an “outperform” rating and a $15.00 target price for the company. BMO Capital Markets raised MediaAlpha from a “market perform” rating to an “outperform” rating and increased their price target for the company from $9.00 to $28.00 in a research report on Monday, February 26th. Finally, Canaccord Genuity Group lifted their price objective on MediaAlpha from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.20.

MediaAlpha Stock Up 4.0 %

The stock has a 50 day simple moving average of $19.78 and a two-hundred day simple moving average of $14.16.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.16. The firm had revenue of $117.17 million for the quarter, compared to analysts’ expectations of $111.36 million. Equities research analysts predict that MediaAlpha, Inc. will post -0.4 EPS for the current year.

Insider Activity

In other news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.85, for a total value of $58,557,500.00. Following the completion of the sale, the insider now directly owns 50,000 shares of the company’s stock, valued at approximately $992,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 11.53% of the company’s stock.

Institutional Investors Weigh In On MediaAlpha

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position in MediaAlpha by 111.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock worth $50,000 after purchasing an additional 2,343 shares in the last quarter. SYSTM Wealth Solutions LLC purchased a new stake in shares of MediaAlpha during the first quarter worth about $178,000. Alliance Wealth Advisors LLC UT acquired a new position in shares of MediaAlpha in the third quarter valued at approximately $84,000. Baker Tilly Wealth Management LLC raised its position in shares of MediaAlpha by 13.7% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock valued at $154,000 after buying an additional 1,660 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of MediaAlpha by 305.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 16,404 shares of the company’s stock valued at $135,000 after buying an additional 12,355 shares during the period. Hedge funds and other institutional investors own 64.39% of the company’s stock.

MediaAlpha Company Profile

MediaAlpha, Inc, through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.