MediaAlpha, Inc. (NYSE:MAX) Sees Large Decrease in Short Interest

MediaAlpha, Inc. (NYSE:MAX) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 1,710,000 shares, a drop of 26.3% from the October 31st total of 2,320,000 shares. Based on an average daily trading volume, of 551,600 shares, the days-to-cover ratio is presently 3.1 days. Currently, 5.4% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upped their price target on shares of MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.14.

Insider Activity

In other news, insider Eugene Nonko sold 72,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 1,550,990 shares of the company’s stock, valued at approximately $32,058,963.30. This represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 11.53% of the company’s stock.

Institutional Trading of MediaAlpha

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in MediaAlpha by 15.0% in the first quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock worth $43,168,000 after purchasing an additional 276,641 shares in the last quarter. Lazard Asset Management LLC purchased a new position in MediaAlpha during the 1st quarter valued at about $165,000. Price T Rowe Associates Inc. MD boosted its stake in MediaAlpha by 9.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock worth $292,000 after acquiring an additional 1,235 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in MediaAlpha in the first quarter worth about $284,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of MediaAlpha by 5.1% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,890 shares of the company’s stock valued at $315,000 after purchasing an additional 1,150 shares in the last quarter. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

MediaAlpha Stock Performance

Shares of MediaAlpha stock traded down $0.26 during midday trading on Friday, reaching $12.63. 177,657 shares of the company’s stock traded hands, compared to its average volume of 762,042. The stock has a 50 day moving average of $16.09 and a 200-day moving average of $16.16. MediaAlpha has a 12 month low of $9.76 and a 12 month high of $25.78. The company has a market cap of $841.97 million, a PE ratio of 74.29 and a beta of 1.23.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $259.13 million during the quarter, compared to analyst estimates of $246.96 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. On average, equities analysts anticipate that MediaAlpha will post 0.42 earnings per share for the current fiscal year.

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.