MediaAlpha (NYSE:MAX) Shares Gap Up - Here's What Happened

Key Points

• MediaAlpha's stock gapped up from $12.65 to $13.45 at market opening, last trading at $12.99 with a volume of 562,999 shares.
• Analysts have mixed ratings for MediaAlpha, with six recommending a buy, while Wall Street Zen has downgraded it from a "buy" to a "hold" rating.
• The company's recent earnings report showed a 41.1% year-over-year revenue growth and EPS of $0.17, exceeding expectations of $0.16.

Shares of MediaAlpha, Inc. (NYSE:MAX - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $12.65, but opened at $13.45. MediaAlpha shares last traded at $12.99, with a volume of 562,999 shares changing hands.

Analyst Ratings Changes

MAX has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of MediaAlpha from $17.00 to $18.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Wall Street Zen downgraded MediaAlpha from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, MediaAlpha currently has an average rating of "Buy" and an average target price of $18.25.

MediaAlpha Price Performance

The company has a 50 day moving average price of $10.71 and a 200 day moving average price of $9.97. The firm has a market cap of $881.91 million, a PE ratio of -108.16 and a beta of 1.19.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. MediaAlpha had a negative return on equity of 62.53% and a negative net margin of 0.61%.The company had revenue of $251.62 million for the quarter, compared to analyst estimates of $248.80 million. During the same quarter in the prior year, the company earned $0.07 earnings per share. MediaAlpha's revenue was up 41.1% compared to the same quarter last year. On average, equities analysts anticipate that MediaAlpha, Inc. will post 0.48 earnings per share for the current fiscal year.

Insider Transactions at MediaAlpha

In related news, Director Kathy P. Vrabeck acquired 31,000 shares of MediaAlpha stock in a transaction that occurred on Tuesday, August 12th. The stock was acquired at an average price of $9.60 per share, for a total transaction of $297,600.00. Following the transaction, the director directly owned 129,657 shares of the company's stock, valued at $1,244,707.20. This trade represents a 31.42% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Keith Cramer sold 20,000 shares of the business's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $9.73, for a total value of $194,600.00. Following the completion of the sale, the executive directly owned 167,200 shares in the company, valued at $1,626,856. This represents a 10.68% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 29,669 shares of company stock worth $297,873. Company insiders own 13.44% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of MediaAlpha by 14.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,236 shares of the company's stock valued at $229,000 after acquiring an additional 2,492 shares during the last quarter. Northern Trust Corp lifted its position in shares of MediaAlpha by 10.6% during the 4th quarter. Northern Trust Corp now owns 282,172 shares of the company's stock worth $3,186,000 after buying an additional 26,955 shares during the period. BNP Paribas Financial Markets acquired a new stake in MediaAlpha during the 4th quarter valued at $323,000. Millennium Management LLC increased its stake in shares of MediaAlpha by 91.0% in the 4th quarter. Millennium Management LLC now owns 781,349 shares of the company's stock valued at $8,821,000 after buying an additional 372,305 shares during the period. Finally, Man Group plc increased its stake in shares of MediaAlpha by 30.0% in the 4th quarter. Man Group plc now owns 18,165 shares of the company's stock valued at $205,000 after buying an additional 4,187 shares during the period. Hedge funds and other institutional investors own 64.39% of the company's stock.

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.