MediaAlpha (NYSE:MAX) Trading Down 5.1% – Here’s Why

MediaAlpha, Inc. (NYSE:MAX) shares were down 5.1% during mid-day trading on Monday . The stock traded as low as $11.42 and last traded at $11.42. Approximately 332,860 shares were traded during trading, a decline of 36% from the average daily volume of 521,685 shares. The stock had previously closed at $12.04.

Analyst Ratings Changes

A number of research firms have issued reports on MAX. Keefe, Bruyette & Woods raised their target price on MediaAlpha from $17.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Wall Street Zen lowered MediaAlpha from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Six analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $18.25.

MediaAlpha Stock Performance

The stock has a market cap of $783.62 million, a PE ratio of -96.11 and a beta of 1.19. The stock has a 50 day moving average of $11.16 and a two-hundred day moving average of $10.24.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. MediaAlpha had a negative return on equity of 62.53% and a negative net margin of 0.61%.The firm had revenue of $251.62 million during the quarter, compared to analyst estimates of $248.80 million. During the same period last year, the company posted $0.07 EPS. The business’s quarterly revenue was up 41.1% compared to the same quarter last year. Analysts expect that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

Insider Activity

In related news, CRO Keith Cramer sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $9.73, for a total value of $194,600.00. Following the transaction, the executive directly owned 167,200 shares of the company’s stock, valued at approximately $1,626,856. This trade represents a 10.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathy P. Vrabeck acquired 31,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average cost of $9.60 per share, for a total transaction of $297,600.00. Following the completion of the purchase, the director directly owned 129,657 shares in the company, valued at $1,244,707.20. This represents a 31.42% increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 29,669 shares of company stock valued at $297,873. 11.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MAX. GAMMA Investing LLC increased its position in MediaAlpha by 8,775.8% in the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company’s stock worth $27,000 after buying an additional 2,896 shares during the period. Tower Research Capital LLC TRC boosted its stake in MediaAlpha by 28.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock valued at $61,000 after buying an additional 1,213 shares in the last quarter. Raymond James Financial Inc. acquired a new position in MediaAlpha in the second quarter worth $62,000. Arizona State Retirement System acquired a new position in MediaAlpha in the first quarter worth $95,000. Finally, Semanteon Capital Management LP acquired a new position in MediaAlpha in the second quarter worth $110,000. 64.39% of the stock is owned by 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.