MediaAlpha (NYSE:MAX) Shares Gap Up - Still a Buy?

MediaAlpha, Inc. (NYSE:MAX - Get Free Report)'s stock price gapped up prior to trading on Monday . The stock had previously closed at $10.74, but opened at $11.05. MediaAlpha shares last traded at $11.45, with a volume of 55,835 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MAX. Keefe, Bruyette & Woods lowered their price objective on MediaAlpha from $26.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday, December 11th. Royal Bank of Canada dropped their price objective on shares of MediaAlpha from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their target price on shares of MediaAlpha from $20.00 to $26.00 and gave the company a "buy" rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.14.

MediaAlpha Stock Performance

The firm has a fifty day simple moving average of $14.78 and a 200 day simple moving average of $15.67. The company has a market capitalization of $757.30 million, a PE ratio of 67.59 and a beta of 1.10.

MediaAlpha (NYSE:MAX - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The firm had revenue of $259.13 million during the quarter, compared to the consensus estimate of $246.96 million. Research analysts expect that MediaAlpha, Inc. will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling at MediaAlpha

In related news, insider Eugene Nonko sold 72,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total value of $1,488,240.00. Following the completion of the transaction, the insider now directly owns 1,550,990 shares of the company's stock, valued at $32,058,963.30. This trade represents a 4.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.53% of the stock is owned by insiders.

Hedge Funds Weigh In On MediaAlpha

Institutional investors have recently bought and sold shares of the business. Driehaus Capital Management LLC grew its position in MediaAlpha by 208.4% during the second quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company's stock valued at $18,920,000 after buying an additional 970,840 shares during the period. Clearline Capital LP increased its stake in shares of MediaAlpha by 115.3% in the 3rd quarter. Clearline Capital LP now owns 1,241,419 shares of the company's stock valued at $22,482,000 after purchasing an additional 664,691 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in MediaAlpha in the 2nd quarter worth about $7,956,000. Emerald Advisers LLC grew its holdings in MediaAlpha by 51,407.5% in the second quarter. Emerald Advisers LLC now owns 598,517 shares of the company's stock valued at $7,882,000 after purchasing an additional 597,355 shares during the period. Finally, Ghisallo Capital Management LLC increased its position in shares of MediaAlpha by 535.3% in the second quarter. Ghisallo Capital Management LLC now owns 487,500 shares of the company's stock valued at $6,420,000 after buying an additional 410,764 shares in the last quarter. 64.39% of the stock is owned by hedge funds and other institutional investors.

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.