MediaAlpha, Inc. (NYSE:MAX) Insider Patrick Ryan Thompson Buys 10,000 Shares

MediaAlpha, Inc. (NYSE:MAX – Get Rating) insider Patrick Ryan Thompson acquired 10,000 shares of the business’s stock in a transaction on Tuesday, May 10th. The shares were bought at an average cost of $11.03 per share, for a total transaction of $110,300.00. Following the acquisition, the insider now owns 34,090 shares of the company’s stock, valued at approximately $376,012.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

NYSE:MAX opened at $10.17 on Thursday. MediaAlpha, Inc. has a 12-month low of $9.98 and a 12-month high of $47.00. The company has a 50 day moving average of $14.92. The firm has a market capitalization of $619.87 million, a price-to-earnings ratio of -28.97 and a beta of 0.58.

MediaAlpha (NYSE:MAX – Get Rating) last announced its quarterly earnings data on Thursday, February 24th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). The business had revenue of $161.58 million for the quarter, compared to the consensus estimate of $155.88 million. As a group, research analysts expect that MediaAlpha, Inc. will post -0.28 earnings per share for the current year.

Several brokerages recently commented on MAX. Citigroup lowered shares of MediaAlpha from a “buy” rating to a “neutral” rating and cut their price target for the stock from $24.00 to $14.00 in a research note on Wednesday, February 23rd. Zacks Investment Research downgraded MediaAlpha from a “hold” rating to a “sell” rating in a report on Wednesday. Canaccord Genuity Group dropped their price target on MediaAlpha from $30.00 to $20.00 in a research note on Friday, February 25th. Finally, Royal Bank of Canada reduced their price objective on MediaAlpha from $24.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday, March 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, MediaAlpha has an average rating of “Hold” and an average price target of $29.44.

Institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank purchased a new stake in MediaAlpha during the fourth quarter worth about $24,704,000. Rubric Capital Management LP purchased a new stake in shares of MediaAlpha during the 4th quarter worth approximately $9,798,000. Wolf Hill Capital Management LP acquired a new stake in shares of MediaAlpha in the 3rd quarter worth approximately $7,223,000. Jacobs Asset Management LLC purchased a new position in MediaAlpha in the 4th quarter valued at approximately $5,785,000. Finally, Invesco Ltd. raised its holdings in MediaAlpha by 47.0% during the third quarter. Invesco Ltd. now owns 582,132 shares of the company’s stock worth $10,875,000 after purchasing an additional 186,195 shares during the last quarter. 65.47% of the stock is currently owned by institutional investors.

About MediaAlpha (Get Rating)

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.

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