MediaAlpha (NYSE:MAX) Sets New 12-Month High - Here's What Happened

Key Points

• MediaAlpha shares hit a new 52-week high, trading as high as $14.02 before closing at $13.8250, up from the prior close of $13.43.
• Analyst sentiment is mixed, but the stock currently carries a Moderate Buy consensus with an average price target of $12.36. Recent rating changes included both upgrades and downgrades from firms such as TD Cowen, Texas Capital, and Zacks Research.
• In its latest quarterly report, MediaAlpha posted revenue of $310.0 million, above estimates, but EPS of $0.21, below consensus. Insiders have also been active sellers recently, with more than 630,000 shares sold over the last 90 days.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $14.02 and last traded at $13.8250, with a volume of 216790 shares traded. The stock had previously closed at $13.43.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MAX shares. TD Cowen dropped their price target on MediaAlpha from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Tuesday, June 23rd. Weiss Ratings raised MediaAlpha from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday. Zacks Research downgraded MediaAlpha from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 19th. Texas Capital raised MediaAlpha to a "strong-buy" rating in a research note on Tuesday, June 9th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of MediaAlpha from $16.00 to $15.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.36.

MediaAlpha Stock Performance

The firm has a 50-day moving average of $9.65 and a 200-day moving average of $10.01. The firm has a market capitalization of $864.48 million, a P/E ratio of 21.64 and a beta of 1.08.

MediaAlpha (NYSE:MAX - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). MediaAlpha had a net margin of 3.37% and a negative return on equity of 147.82%. The company had revenue of $310.00 million for the quarter, compared to analysts' expectations of $298.91 million. During the same period last year, the company posted ($0.04) EPS. The business's revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts anticipate that MediaAlpha, Inc. will post 0.99 EPS for the current fiscal year.

Insider Activity

In other news, Director Eugene Nonko sold 49,844 shares of the stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $10.04, for a total transaction of $500,433.76. Following the completion of the sale, the director directly owned 1,329,099 shares in the company, valued at approximately $13,344,153.96. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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, insider Steven Yi sold 96,000 shares of the firm's stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $12.90, for a total value of $1,238,400.00. Following the completion of the sale, the insider directly owned 2,759,690 shares in the company, valued at $35,600,001. The trade was a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 ninety days, insiders have sold 630,396 shares of company stock valued at $6,572,502. Insiders own 14.65% of the company's stock.

Institutional Investors Weigh In On MediaAlpha

Large investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its holdings in shares of MediaAlpha by 5,900.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company's stock valued at $28,000 after acquiring an additional 2,124 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in MediaAlpha by 9,917.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company's stock valued at $36,000 after purchasing an additional 2,777 shares during the period. Quarry LP increased its position in MediaAlpha by 43.3% during the 3rd quarter. Quarry LP now owns 4,087 shares of the company's stock valued at $47,000 after purchasing an additional 1,234 shares during the period. Strs Ohio bought a new position in MediaAlpha in the 4th quarter worth $49,000. Finally, Tower Research Capital LLC TRC increased its position in shares of MediaAlpha by 28.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company's stock valued at $61,000 after buying an additional 1,213 shares during the period. 64.39% of the stock is currently owned by 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.

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