MediaAlpha (NYSE:MAX) Shares Down 4.7%

MediaAlpha, Inc. (NYSE:MAX)’s share price traded down 4.7% during mid-day 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

MAX has been the topic of several recent research reports. Royal Bank of Canada lifted 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. BMO Capital Markets raised shares of MediaAlpha from a “market perform” rating to an “outperform” rating and raised their target price for the company from $9.00 to $28.00 in a research note on Monday, February 26th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $25.00 target price (up previously from $19.00) on shares of MediaAlpha in a research note on Wednesday, May 15th. JPMorgan Chase & Co. raised their target price 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. Finally, Canaccord Genuity Group raised their target price 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. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.00.

MediaAlpha Price Performance

The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -25.46 and a beta of 1.32. The stock’s 50 day simple moving average is $19.59 and its 200-day simple moving average is $15.25.

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 firm had revenue of $126.60 million during the quarter, compared to analyst estimates of $111.17 million. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. MediaAlpha’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, equities research analysts anticipate that MediaAlpha, Inc. will post -0.09 earnings per share for the current fiscal year.

Insider Activity at MediaAlpha

In other news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $19.85, for a total value of $58,557,500.00. Following the completion of the transaction, the insider now owns 50,000 shares in the company, valued at approximately $992,500. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $19.85, for a total value of $58,557,500.00. Following the completion of the transaction, the insider now owns 50,000 shares in the company, valued at approximately $992,500. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the 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 of the company’s stock, valued at approximately $339,275,666. The disclosure for this sale can be found here. Insiders sold a total of 10,540,000 shares of company stock worth $202,767,500 in the last ninety days. 11.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MediaAlpha

Several large investors have recently made changes to their positions in MAX. Tower Research Capital LLC TRC grew its holdings 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 acquiring an additional 2,343 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of MediaAlpha in the 1st quarter valued at about $136,000. Lazard Asset Management LLC bought a new position in shares of MediaAlpha in the 1st quarter valued at about $165,000. SYSTM Wealth Solutions LLC bought a new position in shares of MediaAlpha in the 1st quarter valued at about $178,000. Finally, Alliance Wealth Advisors LLC UT bought a new position in shares of MediaAlpha in the 3rd quarter valued at about $84,000. 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.