MediaAlpha (NYSE:MAX) Sees Strong Trading Volume

MediaAlpha, Inc. (NYSE:MAX) saw an uptick in trading volume on Monday . 801,726 shares were traded during mid-day trading, an increase of 79% from the previous session’s volume of 449,011 shares.The stock last traded at $15.94 and had previously closed at $16.21.

Analyst Ratings Changes

A number of research firms recently weighed in on MAX. JPMorgan Chase & Co. lifted their price objective on shares of MediaAlpha from $18.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Royal Bank of Canada lifted their price objective on shares of MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $25.00 price objective (up from $19.00) on shares of MediaAlpha in a research note on Wednesday, May 15th. Canaccord Genuity Group lifted their price objective on shares of MediaAlpha from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, TD Cowen downgraded shares of MediaAlpha from a “buy” rating to a “hold” rating and cut their price target for the company from $19.00 to $13.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.43.

MediaAlpha Trading Down 6.8 %

The company’s fifty day simple moving average is $18.49 and its 200 day simple moving average is $16.58. The stock has a market capitalization of $940.85 million, a P/E ratio of -21.01 and a beta of 1.26.

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

Insiders Place Their Bets

In other MediaAlpha news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the business’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $19.00, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the business’s stock in a transaction dated 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 SEC, which is available at this hyperlink. Also, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $19.00, for a total transaction of $95,003,800.00. Following the completion of the transaction, the insider now owns 17,856,614 shares in the company, valued at approximately $339,275,666. The disclosure for this sale can be found here. 11.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MediaAlpha

A number of hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of MediaAlpha by 9.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock valued at $292,000 after buying an additional 1,235 shares during the period. Portside Wealth Group LLC increased its position in shares of MediaAlpha by 9.1% during the fourth quarter. Portside Wealth Group LLC now owns 18,755 shares of the company’s stock valued at $209,000 after buying an additional 1,567 shares during the period. Baker Tilly Wealth Management LLC increased its position in shares of MediaAlpha by 13.7% during 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 period. Silvercrest Asset Management Group LLC increased its position in shares of MediaAlpha by 0.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 375,509 shares of the company’s stock valued at $7,649,000 after buying an additional 1,667 shares during the period. Finally, Swiss National Bank increased its position in shares of MediaAlpha by 4.6% during the third quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $375,000 after buying an additional 2,000 shares during the period. Hedge funds and other institutional investors own 64.39% of the company’s stock.

About MediaAlpha

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.