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

MediaAlpha, Inc. (NYSE:MAX) gapped down prior to trading 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 traded.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. The Goldman Sachs Group boosted their price objective on MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Friday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $26.00 target price (up previously from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, MediaAlpha presently has an average rating of “Moderate Buy” and an average target price of $25.14.

MediaAlpha Price Performance

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

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) 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 firm had revenue of $259.13 million for the quarter, compared to analysts’ expectations of $246.96 million. As a group, sell-side analysts expect that MediaAlpha, Inc. will post 0.41 EPS for the current year.

Insiders Place Their Bets

In other MediaAlpha 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 value of $1,488,240.00. Following the sale, the insider now owns 1,550,990 shares in the company, 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 document filed with the SEC, which is available at this hyperlink. 11.53% of the stock is owned by insiders.

Institutional Investors Weigh In On MediaAlpha

A number of institutional investors and hedge funds have recently bought and sold shares of MAX. Point72 DIFC Ltd bought a new stake in shares of MediaAlpha in the 2nd quarter valued at about $65,000. Sandia Investment Management LP bought a new stake in MediaAlpha during the 2nd quarter valued at $79,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of MediaAlpha by 354.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock valued at $114,000 after acquiring an additional 6,728 shares during the period. nVerses Capital LLC bought a new position in shares of MediaAlpha in the 3rd quarter worth $116,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of MediaAlpha during the 2nd quarter worth $134,000. 64.39% of the stock is owned by institutional investors.

MediaAlpha Company Profile

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.