MediaAlpha (NYSE:MAX) Trading Down 4.7% – Here’s What Happened

MediaAlpha, Inc. (NYSE:MAX)’s stock price was down 4.7% during trading on Tuesday . The stock traded as low as $12.08 and last traded at $12.10. Approximately 45,768 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 571,340 shares. The stock had previously closed at $12.70.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group increased their price target on MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada cut their price objective on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.71.

MediaAlpha Price Performance

The company has a 50-day moving average of $15.86 and a 200 day moving average of $16.07. The company has a market cap of $759.26 million, a PE ratio of 67.00 and a beta of 1.10.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The business had revenue of $259.13 million during the quarter, compared to analyst estimates of $246.96 million. Equities research analysts expect that MediaAlpha, Inc. will post 0.42 EPS for the current year.

Insider Buying and Selling at MediaAlpha

In related news, insider Eugene Nonko sold 72,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 11.53% of the company’s stock.

Institutional Trading of MediaAlpha

Large investors have recently modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in MediaAlpha by 5.1% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,890 shares of the company’s stock worth $315,000 after buying an additional 1,150 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of MediaAlpha by 11.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock valued at $206,000 after acquiring an additional 1,213 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of MediaAlpha by 9.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock valued at $292,000 after acquiring an additional 1,235 shares during the period. Hsbc Holdings PLC increased its position in shares of MediaAlpha by 7.1% in the 2nd quarter. Hsbc Holdings PLC now owns 23,791 shares of the company’s stock valued at $312,000 after acquiring an additional 1,582 shares during the period. Finally, Quarry LP increased its position in shares of MediaAlpha by 157.8% in the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock valued at $51,000 after acquiring an additional 1,726 shares during the period. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.