MediaAlpha, Inc. (NYSE:MAX) Short Interest Update

MediaAlpha, Inc. (NYSE:MAX) was the recipient of a significant drop in short interest in November. As of November 15th, there was short interest totalling 1,710,000 shares, a drop of 26.3% from the October 31st total of 2,320,000 shares. Currently, 5.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 551,600 shares, the short-interest ratio is currently 3.1 days.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MAX. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $26.00 price target (up previously from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. The Goldman Sachs Group lifted their target price on shares of MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, MediaAlpha presently has an average rating of “Moderate Buy” and an average target price of $25.14.

MediaAlpha Price Performance

Shares of NYSE MAX traded down $0.26 during mid-day trading on Friday, reaching $12.63. 177,646 shares of the company’s stock traded hands, compared to its average volume of 574,706. The stock has a market cap of $841.92 million, a P/E ratio of 75.82 and a beta of 1.23. The business has a 50-day simple moving average of $16.29 and a 200 day simple moving average of $16.27. MediaAlpha has a 1-year low of $9.76 and a 1-year high of $25.78.

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

Insider Buying and Selling at MediaAlpha

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP raised its position in shares of MediaAlpha by 157.8% in the third quarter. Quarry LP now owns 2,820 shares of the company’s stock valued at $51,000 after purchasing an additional 1,726 shares during the period. Point72 DIFC Ltd bought a new stake in shares of MediaAlpha in the second quarter valued at approximately $65,000. Sandia Investment Management LP bought a new stake in shares of MediaAlpha in the second quarter valued at approximately $79,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of MediaAlpha by 354.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock valued at $114,000 after purchasing an additional 6,728 shares during the period. Finally, nVerses Capital LLC bought a new stake in shares of MediaAlpha in the third quarter valued at approximately $116,000. 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.