MediaAlpha (NYSE:MAX) Shares Down 5.2% – Here’s Why

MediaAlpha, Inc. (NYSE:MAX) dropped 5.2% on Tuesday . The stock traded as low as $11.19 and last traded at $11.19. Approximately 77,996 shares traded hands during trading, a decline of 86% from the average daily volume of 576,123 shares. The stock had previously closed at $11.80.

Analysts Set New Price Targets

Several analysts have commented on MAX shares. Royal Bank of Canada lowered their price target on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, December 4th. The Goldman Sachs Group upped their price target on shares of MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.71.

MediaAlpha Stock Down 1.1 %

The company’s fifty day moving average is $15.33 and its 200 day moving average is $15.88. The stock has a market cap of $777.97 million, a PE ratio of 69.44 and a beta of 1.10.

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

Insider Buying and Selling at MediaAlpha

In other news, insider Eugene Nonko sold 72,000 shares of MediaAlpha stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the sale, the insider now directly owns 1,550,990 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MediaAlpha

Hedge funds have recently bought and sold shares of the business. Driehaus Capital Management LLC raised its position in shares of MediaAlpha by 208.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock valued at $18,920,000 after purchasing an additional 970,840 shares in the last quarter. Clearline Capital LP increased its stake in shares of MediaAlpha by 115.3% in the third quarter. Clearline Capital LP now owns 1,241,419 shares of the company’s stock worth $22,482,000 after buying an additional 664,691 shares during the last quarter. Divisadero Street Capital Management LP acquired a new stake in MediaAlpha in the second quarter valued at $7,956,000. Emerald Advisers LLC raised its holdings in MediaAlpha by 51,407.5% in the second quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock valued at $7,882,000 after acquiring an additional 597,355 shares in the last quarter. Finally, Ghisallo Capital Management LLC boosted its stake in MediaAlpha by 535.3% during the 2nd quarter. Ghisallo Capital Management LLC now owns 487,500 shares of the company’s stock valued at $6,420,000 after acquiring an additional 410,764 shares during the last quarter. Institutional investors and hedge funds 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.