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

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

Wall Street Analyst Weigh In

MAX has been the subject of a number of research reports. The Goldman Sachs Group lifted their price objective on MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods reduced their target price on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada reduced 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. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.14.

MediaAlpha Trading Up 0.4 %

The firm has a market cap of $747.30 million, a P/E ratio of 66.24 and a beta of 1.10. The company has a fifty day moving average price of $15.20 and a two-hundred day moving average price of $15.83.

MediaAlpha (NYSE:MAX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share 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 for the quarter, compared to analysts’ expectations of $246.96 million. As a group, sell-side analysts expect that MediaAlpha, Inc. will post 0.42 EPS for the current year.

Insider Activity

In other MediaAlpha 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 11.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MediaAlpha

Institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its position in shares of MediaAlpha by 9.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock worth $292,000 after purchasing an additional 1,235 shares during the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of MediaAlpha by 5.1% during the 2nd 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 purchasing an additional 1,150 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of MediaAlpha by 15.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 84,155 shares of the company’s stock worth $1,108,000 after purchasing an additional 11,503 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased 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 purchasing an additional 6,728 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of MediaAlpha during the 2nd quarter worth approximately $225,000. Institutional investors own 64.39% of the company’s stock.

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.