MediaAlpha (NYSE:MAX) Stock Price Up 9%

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

Analyst Upgrades and Downgrades

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

MediaAlpha Stock Up 4.0 %

The stock’s fifty day simple moving average is $19.78 and its 200-day simple moving average is $14.16.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On MediaAlpha

Institutional investors have recently added to or reduced their stakes in the company. Norden Group LLC raised its position in MediaAlpha by 1,767.2% in the first quarter. Norden Group LLC now owns 263,592 shares of the company’s stock worth $5,369,000 after acquiring an additional 249,475 shares in the last quarter. Nomura Holdings Inc. acquired a new position in MediaAlpha in the 4th quarter worth approximately $1,364,000. Mariner LLC lifted its holdings 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 purchasing an additional 62,210 shares in the last quarter. Hartline Investment Corp acquired a new stake in MediaAlpha during the 1st quarter worth about $463,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of MediaAlpha during the third quarter worth approximately $172,000. 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.