MediaAlpha (NYSE:MAX) Stock Price Up 9%

MediaAlpha, Inc. (NYSE:MAX) shares rose 9% during trading on Tuesday . The company traded as high as $20.53 and last traded at $20.49. Approximately 125,380 shares changed hands during trading, a decline of 56% from the average daily volume of 283,841 shares. The stock had previously closed at $18.79.

Wall Street Analyst Weigh In

MAX has been the subject of a number of research reports. TD Cowen initiated coverage on MediaAlpha in a research report on Wednesday, January 10th. They set an “outperform” rating and a $15.00 price target for the company. Canaccord Genuity Group lifted their price target on MediaAlpha from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada lifted their price target on MediaAlpha from $12.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 21st. Finally, BMO Capital Markets raised MediaAlpha from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $9.00 to $28.00 in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.20.

MediaAlpha Stock Performance

The stock has a 50 day simple moving average of $19.69 and a two-hundred day simple moving average of $14.08. The firm has a market cap of $1.33 billion, a PE ratio of -22.70 and a beta of 1.35.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.16. The business had revenue of $117.17 million during the quarter, compared to analysts’ expectations of $111.36 million. Equities research analysts forecast that MediaAlpha, Inc. will post -0.4 earnings per share for the current year.

Insider Activity at MediaAlpha

In related news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of MediaAlpha stock in a transaction dated Tuesday, March 12th. The stock was 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 document filed with the SEC, which is available through the SEC website. 11.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On MediaAlpha

Several large investors have recently bought and sold shares of MAX. Tower Research Capital LLC TRC boosted its holdings in shares of 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 purchasing an additional 2,343 shares during the last quarter. Alliance Wealth Advisors LLC UT acquired a new position in MediaAlpha in the third quarter valued at approximately $84,000. Allspring Global Investments Holdings LLC lifted its stake in MediaAlpha by 305.1% during 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 in the last quarter. Baker Tilly Wealth Management LLC lifted its stake in MediaAlpha by 13.7% during 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 in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of MediaAlpha during the third quarter worth $162,000. 64.39% of the stock is currently 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.