MediaAlpha (NYSE:MAX) Shares Gap Down to $14.29

MediaAlpha, Inc. (NYSE:MAX) gapped down before the market opened on Wednesday . The stock had previously closed at $14.29, but opened at $13.78. MediaAlpha shares last traded at $13.41, with a volume of 395,734 shares changing hands.

Analyst Ratings Changes

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

MediaAlpha Stock Performance

The stock has a market cap of $859.25 million, a price-to-earnings ratio of -19.19 and a beta of 1.26. The business’s 50 day moving average is $18.28 and its 200 day moving average is $16.53.

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

Insider Buying and Selling at MediaAlpha

In other news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $19.00, for a total transaction of $49,206,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of MediaAlpha stock in a transaction on Friday, May 10th. The stock was sold at an average price of $19.00, for a total transaction of $49,206,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 value 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. Company insiders own 11.53% of the company’s stock.

Institutional Trading of MediaAlpha

A number of institutional investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC bought a new position in shares of MediaAlpha during the 1st quarter valued at $284,000. Silvercrest Asset Management Group LLC raised its holdings in 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of MediaAlpha by 9.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock worth $292,000 after buying an additional 1,235 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of MediaAlpha during the 1st quarter worth about $165,000. Finally, EntryPoint Capital LLC acquired a new position in shares of MediaAlpha during the 1st quarter valued at about $136,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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.