MediaAlpha (NYSE:MAX) Stock Price Up 8% – Here’s What Happened

MediaAlpha, Inc. (NYSE:MAX) shares rose 8% during trading on Monday . The company traded as high as $11.73 and last traded at $11.86. Approximately 55,288 shares were traded during trading, a decline of 85% from the average daily volume of 372,456 shares. The stock had previously closed at $10.98.

Analyst Upgrades and Downgrades

Several research firms have commented on MAX. JPMorgan Chase & Co. lowered their target price on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. The Goldman Sachs Group reduced their price objective on shares of MediaAlpha from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Keefe, Bruyette & Woods cut their target price on shares of MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada lowered their price target on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $21.57.

MediaAlpha Trading Up 8.8 %

The company has a market capitalization of $796.25 million, a price-to-earnings ratio of 70.35 and a beta of 1.12. The firm has a 50-day simple moving average of $11.50 and a two-hundred day simple moving average of $14.76.

MediaAlpha (NYSE:MAX) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The company had revenue of $259.13 million during the quarter, compared to the consensus estimate of $246.96 million. On average, sell-side analysts forecast that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

Insider Activity at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of MediaAlpha stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the sale, the insider now owns 1,550,990 shares in the company, valued at $32,058,963.30. The trade was a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.53% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of MediaAlpha by 28.9% in the 3rd quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock worth $12,509,000 after acquiring an additional 154,637 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in shares of MediaAlpha in the third quarter valued at $804,000. Barclays PLC raised its holdings in shares of MediaAlpha by 423.2% in the third quarter. Barclays PLC now owns 66,525 shares of the company’s stock valued at $1,204,000 after buying an additional 53,809 shares during the last quarter. PDT Partners LLC acquired a new position in MediaAlpha during the 3rd quarter worth about $1,237,000. Finally, JPMorgan Chase & Co. raised its stake in shares of MediaAlpha by 655.8% in the third quarter. JPMorgan Chase & Co. now owns 80,071 shares of the company’s stock worth $1,450,000 after acquiring an additional 69,477 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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.