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

MediaAlpha, Inc. (NYSE:MAX) gapped down before the market opened on Tuesday . The stock had previously closed at $16.08, but opened at $12.58. MediaAlpha shares last traded at $10.49, with a volume of 992,272 shares trading hands.

Analyst Upgrades and Downgrades

MAX has been the subject of several research analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $26.00 price objective (up from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. The Goldman Sachs Group increased their price objective on MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.14.

MediaAlpha Trading Down 27.8 %

The firm has a market capitalization of $769.74 million, a P/E ratio of 66.12 and a beta of 1.23. The business’s 50 day simple moving average is $18.01 and its two-hundred day simple moving average is $17.18.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.03%. The company had revenue of $259.13 million during the quarter, compared to the consensus estimate of $246.96 million. Analysts predict that MediaAlpha, Inc. will post 0.41 EPS for the current fiscal year.

Insider Transactions at MediaAlpha

In related news, insider Eugene Nonko sold 72,000 shares of the stock in a transaction on 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 $32,058,963.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 11.53% of the company’s stock.

Institutional Investors Weigh In On MediaAlpha

A number of large investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new stake in shares of MediaAlpha during the 3rd quarter valued at about $804,000. Los Angeles Capital Management LLC increased its holdings in MediaAlpha by 91.9% during the third quarter. Los Angeles Capital Management LLC now owns 55,183 shares of the company’s stock valued at $999,000 after buying an additional 26,420 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in MediaAlpha in the third quarter worth approximately $221,000. Allspring Global Investments Holdings LLC purchased a new position in shares of MediaAlpha during the 3rd quarter worth $491,000. Finally, OmniStar Financial Group Inc. purchased a new position in shares of MediaAlpha during the 3rd quarter worth $523,000. Institutional investors 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.