MediaAlpha (NYSE:MAX) Stock Jumps 9.3% – Time to Buy?

MediaAlpha, Inc. (NYSE:MAX)’s stock price was up 9.3% during trading on Thursday. The stock traded as high as $11.56 and last traded at $11.6260. 536,479 shares were traded during mid-day trading, a decline of 32% from the average session volume of 788,576 shares. The stock had previously closed at $10.64.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings raised shares of MediaAlpha from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. JPMorgan Chase & Co. assumed coverage on MediaAlpha in a report on Monday, August 24th. They set a “neutral” rating and a $15.00 price target for the company. Canaccord Genuity Group upped their price objective on MediaAlpha from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Zacks Research upgraded MediaAlpha from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 22nd. Finally, Wall Street Zen raised MediaAlpha from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.79.

MediaAlpha Trading Up 10.8%

The firm has a market capitalization of $722.00 million, a price-to-earnings ratio of 7.28 and a beta of 1.14. The stock’s 50-day moving average is $11.46 and its 200-day moving average is $10.90.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.42. The firm had revenue of $316.88 million for the quarter, compared to analyst estimates of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. On average, equities research analysts anticipate that MediaAlpha, Inc. will post 1.40 EPS for the current fiscal year.

Insider Transactions at MediaAlpha

In related news, insider Steven Yi sold 72,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $12.64, for a total transaction of $910,080.00. Following the sale, the insider owned 2,387,690 shares of the company’s stock, valued at $30,180,401.60. This trade represents a 2.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Keith Cramer sold 13,000 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $12.76, for a total value of $165,880.00. Following the sale, the executive owned 264,303 shares in the company, valued at $3,372,506.28. This represents a 4.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 419,925 shares of company stock valued at $5,207,410 over the last quarter. 14.65% of the stock is currently owned by insiders.

Institutional Trading of MediaAlpha

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Clearline Capital LP increased its stake in shares of MediaAlpha by 0.8% in the fourth quarter. Clearline Capital LP now owns 1,301,453 shares of the company’s stock valued at $16,854,000 after buying an additional 10,604 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in MediaAlpha by 24.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company’s stock valued at $9,876,000 after buying an additional 206,077 shares during the last quarter. Jacobs Asset Management LLC boosted its position in MediaAlpha by 31.1% during the 1st quarter. Jacobs Asset Management LLC now owns 924,443 shares of the company’s stock worth $8,597,000 after buying an additional 219,144 shares during the period. Dimensional Fund Advisors LP boosted its position in MediaAlpha by 94.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 620,669 shares of the company’s stock worth $5,773,000 after buying an additional 300,871 shares during the period. Finally, Triad Investment Management boosted its position in MediaAlpha by 10.4% during the 2nd quarter. Triad Investment Management now owns 368,731 shares of the company’s stock worth $4,635,000 after buying an additional 34,867 shares during the period. 64.39% of the stock is currently owned by institutional investors.

About MediaAlpha

MediaAlpha, Inc (NYSE: MAX) operates a technology platform designed to help insurance companies and distributors acquire customers through digital channels. Its platform connects consumers who are shopping for insurance with providers and other distribution partners, using data, analytics and automated transactions to facilitate customer acquisition.

The company’s services primarily support insurance shopping and marketing across categories such as auto, home, health and life insurance.