MediaAlpha (NYSE:MAX) Shares Down 8.6% – Should You Sell?

Shares of MediaAlpha, Inc. (NYSE:MAX) traded down 8.6% on Friday . The stock traded as low as $12.70 and last traded at $12.3770. Approximately 55,246 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 779,551 shares. The stock had previously closed at $13.54.

Wall Street Analyst Weigh In

MAX has been the topic of a number of research reports. Wall Street Zen upgraded shares of MediaAlpha from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Keefe, Bruyette & Woods lifted their price target on shares of MediaAlpha from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Capital One Financial set a $11.00 price objective on shares of MediaAlpha in a report on Tuesday, June 9th. The Goldman Sachs Group raised their target price on shares of MediaAlpha from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on MediaAlpha from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.29.

MediaAlpha Stock Down 7.2%

The firm’s fifty day simple moving average is $11.47 and its 200-day simple moving average is $10.18. The firm has a market capitalization of $783.37 million, a PE ratio of 7.76 and a beta of 1.08.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.44. The company had revenue of $316.88 million during the quarter, compared to the consensus estimate of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 235.09%. As a group, analysts predict that MediaAlpha, Inc. will post 0.97 earnings per share for the current year.

Insider Activity at MediaAlpha

In other news, Director Eugene Nonko sold 4,952 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $14.05, for a total value of $69,575.60. Following the completion of the transaction, the director owned 860,862 shares in the company, valued at $12,095,111.10. The trade was a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Over the last three months, insiders sold 440,820 shares of company stock valued at $5,368,786. 14.65% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MediaAlpha

Several institutional investors have recently modified their holdings of the business. Triad Investment Management bought a new position in MediaAlpha during the 4th quarter valued at about $3,567,000. Jacobs Asset Management LLC boosted its holdings in shares of MediaAlpha by 31.1% during the 1st quarter. Jacobs Asset Management LLC now owns 924,443 shares of the company’s stock valued at $8,597,000 after acquiring an additional 219,144 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of MediaAlpha by 288.7% in the first quarter. Principal Financial Group Inc. now owns 137,613 shares of the company’s stock worth $1,280,000 after acquiring an additional 102,210 shares during the period. Globeflex Capital L P bought a new stake in shares of MediaAlpha in the fourth quarter worth approximately $1,039,000. Finally, Moran Wealth Management LLC bought a new stake in shares of MediaAlpha in the fourth quarter worth approximately $165,000. 64.39% of the stock is owned by hedge funds and other institutional investors.

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.