MediaAlpha (NYSE:MAX) Stock Price Up 9%

MediaAlpha, Inc. (NYSE:MAX) rose 9% on Tuesday . The company traded as high as $20.53 and last traded at $20.49. Approximately 125,380 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 283,841 shares. The stock had previously closed at $18.79.

Wall Street Analysts Forecast Growth

MAX has been the subject of a number of research analyst reports. Royal Bank of Canada boosted their target price on shares of MediaAlpha from $12.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. BMO Capital Markets raised shares of MediaAlpha from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $9.00 to $28.00 in a research note on Monday, February 26th. TD Cowen began coverage on shares of MediaAlpha in a research report on Wednesday, January 10th. They set an “outperform” rating and a $15.00 price target for the company. Finally, Canaccord Genuity Group lifted their price target on shares of MediaAlpha from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MediaAlpha has a consensus rating of “Moderate Buy” and an average target price of $18.20.

MediaAlpha Stock Up 7.6 %

The company has a market cap of $1.33 billion, a price-to-earnings ratio of -22.70 and a beta of 1.35. The company’s fifty day moving average price is $19.69 and its two-hundred day moving average price is $14.08.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Tuesday, February 20th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.16. The company had revenue of $117.17 million during the quarter, compared to analyst estimates of $111.36 million. On average, equities research analysts predict that MediaAlpha, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at MediaAlpha

In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $19.85, for a total transaction of $58,557,500.00. Following the sale, the insider now directly owns 50,000 shares of the company’s stock, valued at $992,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.53% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently modified their holdings of the stock. Norden Group LLC grew its stake in shares of MediaAlpha by 1,767.2% in the first quarter. Norden Group LLC now owns 263,592 shares of the company’s stock valued at $5,369,000 after acquiring an additional 249,475 shares in the last quarter. Nomura Holdings Inc. acquired a new position in shares of MediaAlpha in the fourth quarter valued at about $1,364,000. Mariner LLC grew its stake in shares of MediaAlpha by 449.2% in the third quarter. Mariner LLC now owns 76,060 shares of the company’s stock valued at $628,000 after acquiring an additional 62,210 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in MediaAlpha during the third quarter worth about $172,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in MediaAlpha during the third quarter worth about $162,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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.