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

MediaAlpha, Inc. (NYSE:MAX) was the target of a significant growth in short interest in the month of February. As of February 13th, there was short interest totaling 3,190,548 shares, a growth of 78.9% from the January 29th total of 1,783,134 shares. Approximately 5.5% of the company’s shares are sold short. Based on an average daily trading volume, of 1,161,995 shares, the short-interest ratio is presently 2.7 days. Based on an average daily trading volume, of 1,161,995 shares, the short-interest ratio is presently 2.7 days. Approximately 5.5% of the company’s shares are sold short.

Analyst Ratings Changes

Several research firms have commented on MAX. Weiss Ratings upgraded MediaAlpha from a “sell (d)” rating to a “hold (c-)” rating in a report on Wednesday. Royal Bank Of Canada lowered their target price on shares of MediaAlpha from $18.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. The Goldman Sachs Group cut their price target on shares of MediaAlpha from $13.50 to $11.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Keefe, Bruyette & Woods decreased their price target on shares of MediaAlpha from $19.00 to $16.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Finally, Wall Street Zen upgraded MediaAlpha from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 11th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, MediaAlpha presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.58.

MediaAlpha Stock Up 0.6%

MAX opened at $9.96 on Monday. MediaAlpha has a 52-week low of $7.09 and a 52-week high of $13.92. The company has a 50 day moving average of $10.41 and a two-hundred day moving average of $11.41. The company has a market cap of $642.10 million, a P/E ratio of 25.53 and a beta of 1.30.

MediaAlpha (NYSE:MAX) last issued its earnings results on Monday, February 23rd. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.25. MediaAlpha had a net margin of 2.30% and a negative return on equity of 132.73%. The business had revenue of $291.16 million for the quarter, compared to the consensus estimate of $296.42 million. During the same quarter last year, the firm posted $0.08 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. Research analysts anticipate that MediaAlpha will post 0.48 earnings per share for the current year.

Insider Activity

In other MediaAlpha news, insider Steven Yi sold 12,748 shares of MediaAlpha stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $9.69, for a total value of $123,528.12. Following the completion of the sale, the insider directly owned 2,688,876 shares of the company’s stock, valued at approximately $26,055,208.44. The trade was a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Kuanling Amy Yeh sold 12,000 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $7.31, for a total value of $87,720.00. Following the transaction, the chief technology officer directly owned 381,662 shares in the company, valued at approximately $2,789,949.22. This represents a 3.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 496,645 shares of company stock valued at $5,722,125 in the last 90 days. Insiders own 11.53% of the company’s stock.

Institutional Investors Weigh In On MediaAlpha

Large investors have recently modified their holdings of the stock. Millennium Management LLC lifted its position in MediaAlpha by 680.9% during the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock worth $16,268,000 after acquiring an additional 1,246,493 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of MediaAlpha by 1,261.9% in the third quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock valued at $8,089,000 after purchasing an additional 658,625 shares during the period. JPMorgan Chase & Co. grew its holdings in MediaAlpha by 95.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company’s stock valued at $12,045,000 after purchasing an additional 516,195 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in MediaAlpha during the 2nd quarter worth $4,268,000. Finally, Lighthouse Investment Partners LLC increased its stake in MediaAlpha by 831.7% during the 3rd quarter. Lighthouse Investment Partners LLC now owns 353,930 shares of the company’s stock worth $4,028,000 after buying an additional 315,943 shares during the period. Institutional investors and hedge funds own 64.39% of the company’s stock.

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.