MediaAlpha (NYSE:MAX) Shares Gap Down – Time to Sell?

Shares of MediaAlpha, Inc. (NYSE:MAX) gapped down before the market opened on Tuesday . The stock had previously closed at $16.08, but opened at $12.58. MediaAlpha shares last traded at $10.49, with a volume of 992,272 shares changing hands.

Analyst Ratings Changes

MAX has been the subject of several recent research reports. The Goldman Sachs Group lifted their price target on MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $26.00 price target (up from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, MediaAlpha has a consensus rating of “Moderate Buy” and an average target price of $25.14.

MediaAlpha Stock Performance

The company’s 50-day moving average price is $17.89 and its two-hundred day moving average price is $17.13. The stock has a market cap of $768.45 million, a PE ratio of 68.18 and a beta of 1.23.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. The firm had revenue of $259.13 million for the quarter, compared to analysts’ expectations of $246.96 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.03%. Equities research analysts forecast that MediaAlpha, Inc. will post 0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total value of $1,488,240.00. Following the completion of the transaction, the insider now owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 11.53% of the company’s stock.

Institutional Investors Weigh In On MediaAlpha

A number of institutional investors have recently modified their holdings of MAX. Point72 DIFC Ltd bought a new position in MediaAlpha in the 2nd quarter worth about $65,000. Sandia Investment Management LP purchased a new position in MediaAlpha in the 2nd quarter worth approximately $79,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in MediaAlpha by 354.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock valued at $114,000 after acquiring an additional 6,728 shares in the last quarter. nVerses Capital LLC purchased a new stake in MediaAlpha during the 3rd quarter valued at $116,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of MediaAlpha in the 2nd quarter worth $134,000. 64.39% of the stock is owned by hedge funds and other 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.