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

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) was the recipient of a significant decline in short interest in February. As of February 28th, there was short interest totalling 1,370,000 shares, a decline of 26.3% from the February 13th total of 1,860,000 shares. Currently, 4.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 541,000 shares, the short-interest ratio is currently 2.5 days.

MediaAlpha Price Performance

MediaAlpha stock traded up $0.04 during mid-day trading on Thursday, hitting $9.81. 678,721 shares of the company were exchanged, compared to its average volume of 617,224. MediaAlpha has a 12-month low of $8.21 and a 12-month high of $25.78. The company has a market capitalization of $657.23 million, a P/E ratio of 57.68 and a beta of 1.15. The business's 50 day simple moving average is $10.77 and its two-hundred day simple moving average is $13.41.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.16). The company had revenue of $300.65 million for the quarter, compared to analysts' expectations of $289.38 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. Equities research analysts predict that MediaAlpha will post 0.48 earnings per share for the current year.

Remove Ads

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of MediaAlpha from $23.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $20.00 price objective on shares of MediaAlpha in a report on Tuesday, February 25th. Keefe, Bruyette & Woods lowered their target price on MediaAlpha from $22.00 to $19.00 and set an "outperform" rating on the stock in a report on Tuesday, February 25th. Canaccord Genuity Group dropped their price target on MediaAlpha from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of MediaAlpha from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, MediaAlpha has an average rating of "Moderate Buy" and an average target price of $17.50.

Hedge Funds Weigh In On MediaAlpha

A number of institutional investors have recently modified their holdings of MAX. Covestor Ltd grew its stake in MediaAlpha by 44.1% in the 4th quarter. Covestor Ltd now owns 2,766 shares of the company's stock worth $31,000 after acquiring an additional 847 shares during the period. Virtus Fund Advisers LLC acquired a new stake in shares of MediaAlpha during the fourth quarter worth $35,000. Quarry LP grew its position in shares of MediaAlpha by 157.8% in the third quarter. Quarry LP now owns 2,820 shares of the company's stock valued at $51,000 after purchasing an additional 1,726 shares during the period. KLP Kapitalforvaltning AS acquired a new position in MediaAlpha in the fourth quarter valued at $67,000. Finally, Walleye Capital LLC purchased a new position in MediaAlpha during the fourth quarter worth about $132,000. Institutional investors and hedge funds 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.