Short Interest in MediaAlpha, Inc. (NYSE:MAX) Increases By 11.2%

MediaAlpha, Inc. (NYSE:MAXGet Rating) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,590,000 shares, a growth of 11.2% from the October 15th total of 1,430,000 shares. Based on an average daily trading volume, of 208,400 shares, the short-interest ratio is presently 7.6 days. Currently, 7.2% of the shares of the company are short sold.

Institutional Trading of MediaAlpha

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Nuveen Asset Management LLC raised its stake in MediaAlpha by 1.6% in the 3rd quarter. Nuveen Asset Management LLC now owns 65,251 shares of the company’s stock worth $571,000 after purchasing an additional 1,031 shares in the last quarter. State Street Corp raised its position in shares of MediaAlpha by 0.3% in the 1st quarter. State Street Corp now owns 415,161 shares of the company’s stock valued at $6,871,000 after buying an additional 1,127 shares in the last quarter. Precision Wealth Strategies LLC raised its position in shares of MediaAlpha by 12.6% in the 2nd quarter. Precision Wealth Strategies LLC now owns 12,380 shares of the company’s stock valued at $138,000 after buying an additional 1,388 shares in the last quarter. Legal & General Group Plc raised its position in shares of MediaAlpha by 28.2% in the 2nd quarter. Legal & General Group Plc now owns 7,491 shares of the company’s stock valued at $74,000 after buying an additional 1,646 shares in the last quarter. Finally, Prospera Financial Services Inc acquired a new position in shares of MediaAlpha in the 1st quarter valued at approximately $28,000. Institutional investors and hedge funds own 70.60% of the company’s stock.

MediaAlpha Stock Down 1.4 %

Shares of MediaAlpha stock opened at $13.95 on Tuesday. MediaAlpha has a twelve month low of $7.59 and a twelve month high of $18.74. The company has a 50-day simple moving average of $10.11 and a two-hundred day simple moving average of $10.28. The stock has a market capitalization of $868.81 million, a price-to-earnings ratio of -16.81 and a beta of 1.02.

MediaAlpha (NYSE:MAXGet Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.02). The business had revenue of $89.02 million for the quarter, compared to analyst estimates of $81.11 million. On average, sell-side analysts anticipate that MediaAlpha will post -0.94 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MAX. William Blair reaffirmed an “outperform” rating on shares of MediaAlpha in a report on Wednesday, October 26th. Citigroup reduced their target price on shares of MediaAlpha from $15.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, August 9th.

About MediaAlpha

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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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