MediaAlpha (NYSE:MAX) Shares Gap Down to $22.18

MediaAlpha, Inc. (NYSE:MAX)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $22.18, but opened at $19.58. MediaAlpha shares last traded at $19.95, with a volume of 1,909,275 shares trading hands.

Analyst Ratings Changes

A number of analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on MediaAlpha from $18.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. BMO Capital Markets raised shares of MediaAlpha from a “market perform” rating to an “outperform” rating and boosted their price target 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 MediaAlpha from $12.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. Finally, Canaccord Genuity Group boosted their target price on MediaAlpha from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to MarketBeat.com, MediaAlpha has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

MediaAlpha Trading Up 0.9 %

The stock has a market cap of $1.33 billion, a price-to-earnings ratio of -29.67 and a beta of 1.32. The stock’s 50 day moving average is $19.90 and its two-hundred day moving average is $14.62.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results 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 analyst estimates of $111.17 million. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) EPS. On average, sell-side analysts predict that MediaAlpha, Inc. will post -0.28 EPS for the current year.

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the company’s stock in a transaction on 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 sale 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 2,950,000 shares of MediaAlpha 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 sale, the insider now directly owns 50,000 shares in the company, valued at $992,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the business’s stock in a transaction 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 sale, the insider now owns 17,856,614 shares in the company, valued at $339,275,666. The disclosure for this sale can be found here. Company insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Portside Wealth Group LLC lifted its holdings in shares of MediaAlpha by 9.1% during the 4th quarter. Portside Wealth Group LLC now owns 18,755 shares of the company’s stock worth $209,000 after acquiring an additional 1,567 shares during the period. Baker Tilly Wealth Management LLC raised its stake in MediaAlpha by 13.7% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock worth $154,000 after purchasing an additional 1,660 shares during the period. Swiss National Bank boosted its holdings in shares of MediaAlpha by 4.6% in the 3rd quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $375,000 after purchasing an additional 2,000 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of 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 last quarter. Finally, Norden Group LLC raised its position in shares of MediaAlpha by 32.8% in the 1st quarter. Norden Group LLC now owns 18,750 shares of the company’s stock worth $382,000 after buying an additional 4,633 shares during the period. Institutional investors and hedge funds 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.