MediaAlpha (NYSE:MAX) Sees Unusually-High Trading Volume

MediaAlpha, Inc. (NYSE:MAX) shares saw unusually-strong trading volume on Friday . Approximately 346,184 shares changed hands during mid-day trading, a decline of 14% from the previous session’s volume of 404,307 shares.The stock last traded at $18.20 and had previously closed at $17.78.

Analyst Ratings Changes

A number of research firms recently issued reports on MAX. Royal Bank of Canada boosted their target price 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. Canaccord Genuity Group boosted their target price on shares of MediaAlpha from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. BMO Capital Markets upgraded 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 note on Monday, February 26th. JPMorgan Chase & Co. boosted their price target 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, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $25.00 target price (up previously from $19.00) on shares of MediaAlpha in a research note on Wednesday, May 15th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.00.

MediaAlpha Stock Up 2.4 %

The stock’s fifty day moving average is $19.52 and its two-hundred day moving average is $15.28.

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 company had revenue of $126.60 million during the quarter, compared to analysts’ expectations of $111.17 million. MediaAlpha’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.23) earnings per share. As a group, analysts predict that MediaAlpha, Inc. will post -0.09 earnings per share for the current fiscal 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 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 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 SEC, which is available through the SEC website. In other MediaAlpha news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the company’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 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 SEC, which is available through the SEC website. Also, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $19.00, for a total transaction of $49,206,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,540,000 shares of company stock valued at $202,767,500 over the last three months. 11.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MediaAlpha

A number of institutional investors and hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its position in shares of MediaAlpha by 111.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock worth $50,000 after purchasing an additional 2,343 shares during the last quarter. Alliance Wealth Advisors LLC UT bought a new position in shares of MediaAlpha in the third quarter worth approximately $84,000. Allspring Global Investments Holdings LLC increased its position in shares of MediaAlpha by 305.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 16,404 shares of the company’s stock worth $135,000 after purchasing an additional 12,355 shares during the last quarter. EntryPoint Capital LLC bought a new position in shares of MediaAlpha in the first quarter worth approximately $136,000. Finally, Baker Tilly Wealth Management LLC increased its position in shares of MediaAlpha by 13.7% in 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 last quarter. 64.39% of the stock is owned by hedge funds and other institutional investors.

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.