MediaAlpha (NYSE:MAX) Shares Down 4.7%

MediaAlpha, Inc. (NYSE:MAX)’s stock price fell 4.7% during trading on Wednesday . The company traded as low as $17.27 and last traded at $17.41. 178,151 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 395,897 shares. The stock had previously closed at $18.26.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MAX. BMO Capital Markets upgraded shares of MediaAlpha from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $9.00 to $28.00 in a research report on Monday, February 26th. Royal Bank of Canada raised their price objective 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. JPMorgan Chase & Co. increased their target price on shares of MediaAlpha from $18.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $25.00 target price (up from $19.00) on shares of MediaAlpha in a report on Wednesday, May 15th. Finally, Canaccord Genuity Group increased their target price on shares of MediaAlpha from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat, MediaAlpha presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

MediaAlpha Trading Up 2.7 %

The stock’s 50 day moving average price is $19.52 and its two-hundred day moving average price is $15.28. The firm has a market capitalization of $1.20 billion, a PE ratio of -26.50 and a beta of 1.32.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09. The business had revenue of $126.60 million for the quarter, compared to analysts’ expectations of $111.17 million. During the same period last year, the business earned ($0.23) earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Analysts expect that MediaAlpha, Inc. will post -0.09 earnings per share for the current year.

Insiders Place Their Bets

In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of MediaAlpha stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $19.00, for a total value of $49,206,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of MediaAlpha stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $19.00, for a total value of $49,206,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of MediaAlpha stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $19.00, for a total transaction of $95,003,800.00. Following the completion of the sale, the insider now directly owns 17,856,614 shares of the company’s stock, valued at $339,275,666. The disclosure for this sale can be found here. In the last three months, insiders sold 10,540,000 shares of company stock valued at $202,767,500. Company insiders own 11.53% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

Several hedge funds and other institutional investors have recently made changes to their positions in MAX. Tower Research Capital LLC TRC increased its stake 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 buying an additional 2,343 shares during the period. EntryPoint Capital LLC purchased a new stake in MediaAlpha during the 1st quarter worth $136,000. Lazard Asset Management LLC purchased a new stake in MediaAlpha during the 1st quarter worth $165,000. SYSTM Wealth Solutions LLC purchased a new stake in MediaAlpha during the 1st quarter worth $178,000. Finally, Alliance Wealth Advisors LLC UT purchased a new stake in MediaAlpha during the 3rd quarter worth $84,000. Institutional investors and hedge funds 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.