MediaAlpha, Inc. (NYSE:MAX) Short Interest Update

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

Insider Activity

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total value of $1,488,240.00. Following the completion of the transaction, the insider now owns 1,550,990 shares of the company’s stock, valued at $32,058,963.30. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Quarry LP increased its stake in MediaAlpha by 157.8% during the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock valued at $51,000 after purchasing an additional 1,726 shares in the last quarter. Point72 DIFC Ltd bought a new stake in MediaAlpha during the 2nd quarter valued at about $65,000. Sandia Investment Management LP bought a new stake in MediaAlpha during the 2nd quarter valued at about $79,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MediaAlpha by 354.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock valued at $114,000 after purchasing an additional 6,728 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in MediaAlpha during the 3rd quarter valued at about $116,000. 64.39% of the stock is currently owned by institutional investors.

MediaAlpha Price Performance

MAX traded down $0.26 during trading on Friday, hitting $12.63. 177,646 shares of the stock traded hands, compared to its average volume of 574,706. The firm has a market capitalization of $841.92 million, a P/E ratio of 75.82 and a beta of 1.23. The firm has a 50-day moving average of $16.29 and a 200 day moving average of $16.27. MediaAlpha has a 12-month low of $9.76 and a 12-month high of $25.78.

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 11.98%. The business had revenue of $259.13 million during the quarter, compared to analysts’ expectations of $246.96 million. As a group, equities analysts predict that MediaAlpha will post 0.42 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $26.00 price objective (up previously from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. One equities research 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, MediaAlpha has a consensus rating of “Moderate Buy” and a consensus target price of $25.14.

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.