MediaAlpha (NYSE:MAX) Stock Price Up 12% – Here’s Why

MediaAlpha, Inc. (NYSE:MAX)’s stock price was up 12% on Monday . The stock traded as high as $12.15 and last traded at $12.15. Approximately 278,870 shares changed hands during trading, a decline of 52% from the average daily volume of 577,235 shares. The stock had previously closed at $10.85.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their target price on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday. Royal Bank of Canada decreased their target price on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group boosted their target price on MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MediaAlpha currently has an average rating of “Moderate Buy” and an average target price of $24.14.

MediaAlpha Stock Performance

The business has a fifty day simple moving average of $15.20 and a 200 day simple moving average of $15.83. The stock has a market capitalization of $747.30 million, a price-to-earnings ratio of 66.24 and a beta of 1.10.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The firm had revenue of $259.13 million for the quarter, compared to analyst estimates of $246.96 million. On average, sell-side analysts forecast that MediaAlpha, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Eugene Nonko sold 72,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the completion of the sale, the insider now directly owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. This represents a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.53% of the company’s stock.

Institutional Trading of MediaAlpha

Institutional investors have recently modified their holdings of the stock. Quarry LP lifted its position in shares of MediaAlpha by 157.8% during the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after buying an additional 1,726 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of MediaAlpha during the 2nd quarter worth $65,000. Sandia Investment Management LP bought a new stake in shares of MediaAlpha during the 2nd quarter worth $79,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MediaAlpha by 354.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock worth $114,000 after buying an additional 6,728 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of MediaAlpha during the 3rd quarter worth $116,000. 64.39% of the stock is currently owned by institutional investors.

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.