Short Interest in MediaAlpha, Inc. (NYSE:MAX) Rises By 78.9%

MediaAlpha, Inc. (NYSE:MAX) saw a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 3,190,548 shares, a growth of 78.9% from the January 29th total of 1,783,134 shares. Currently, 5.5% of the shares of the company are sold short. Based on an average trading volume of 1,161,995 shares, the days-to-cover ratio is presently 2.7 days. Based on an average trading volume of 1,161,995 shares, the days-to-cover ratio is presently 2.7 days. Currently, 5.5% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research firms recently commented on MAX. Zacks Research raised shares of MediaAlpha from a “strong sell” rating to a “strong-buy” rating in a report on Tuesday. The Goldman Sachs Group dropped their target price on MediaAlpha from $13.50 to $11.50 and set a “neutral” rating on the stock in a research report on Tuesday. Weiss Ratings raised MediaAlpha from a “sell (d)” rating to a “hold (c-)” rating in a report on Wednesday. Royal Bank Of Canada reduced their price target on MediaAlpha from $18.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Wall Street Zen raised MediaAlpha from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, MediaAlpha has a consensus rating of “Moderate Buy” and a consensus price target of $14.58.

MediaAlpha Price Performance

NYSE:MAX traded up $0.06 during trading hours on Friday, hitting $9.96. The stock had a trading volume of 1,197,624 shares, compared to its average volume of 1,259,745. The company has a 50 day simple moving average of $10.41 and a two-hundred day simple moving average of $11.39. MediaAlpha has a one year low of $7.09 and a one year high of $13.92. The firm has a market capitalization of $642.10 million, a price-to-earnings ratio of 25.53 and a beta of 1.29.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Monday, February 23rd. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.25. The firm had revenue of $291.16 million for the quarter, compared to analysts’ expectations of $296.42 million. MediaAlpha had a net margin of 2.30% and a negative return on equity of 132.73%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Equities research analysts anticipate that MediaAlpha will post 0.48 earnings per share for the current year.

Insider Buying and Selling

In other MediaAlpha news, CTO Kuanling Amy Yeh sold 12,000 shares of the stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $7.31, for a total transaction of $87,720.00. Following the completion of the transaction, the chief technology officer owned 381,662 shares in the company, valued at $2,789,949.22. This trade represents a 3.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Keith Cramer sold 10,000 shares of MediaAlpha stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $7.16, for a total transaction of $71,600.00. Following the completion of the transaction, the executive owned 182,154 shares of the company’s stock, valued at $1,304,222.64. The trade was a 5.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 516,745 shares of company stock worth $5,975,452 in the last quarter. 13.44% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its stake in MediaAlpha by 5,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock valued at $28,000 after purchasing an additional 2,124 shares in the last quarter. Quarry LP increased its holdings in shares of MediaAlpha by 43.3% in the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after buying an additional 1,234 shares during the last quarter. Strs Ohio bought a new position in shares of MediaAlpha in the 4th quarter worth $49,000. Tower Research Capital LLC TRC raised its position in shares of MediaAlpha by 28.0% during 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. Finally, Raymond James Financial Inc. bought a new stake in shares of MediaAlpha during the 2nd quarter worth $62,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

About MediaAlpha

MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company’s platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.

The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.