Mountains Insurance Grou White Sells 5,000,200 Shares of MediaAlpha, Inc. (NYSE:MAX) Stock

MediaAlpha, Inc. (NYSE:MAX) major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $19.00, for a total value of $95,003,800.00. Following the completion of the sale, the insider now directly owns 17,856,614 shares of the company’s stock, valued at $339,275,666. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

MediaAlpha Stock Performance

Shares of MAX traded up $0.19 during trading hours on Thursday, reaching $20.18. 1,165,850 shares of the company traded hands, compared to its average volume of 379,462. The stock’s fifty day moving average is $19.90 and its 200 day moving average is $14.62. The stock has a market cap of $1.33 billion, a P/E ratio of -29.40 and a beta of 1.32. MediaAlpha, Inc. has a 1-year low of $5.33 and a 1-year high of $25.78.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. The company had revenue of $126.60 million during the quarter, compared to the consensus estimate of $111.17 million. During the same quarter last year, the company earned ($0.23) earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. On average, equities research analysts predict that MediaAlpha, Inc. will post -0.28 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its stake in shares of MediaAlpha by 111.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock valued at $50,000 after acquiring an additional 2,343 shares during the period. Alliance Wealth Advisors LLC UT bought a new stake in shares of MediaAlpha during the third quarter worth approximately $84,000. Allspring Global Investments Holdings LLC lifted its stake in shares of MediaAlpha by 305.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 16,404 shares of the company’s stock valued at $135,000 after purchasing an additional 12,355 shares during the period. Baker Tilly Wealth Management LLC boosted its position in shares of MediaAlpha by 13.7% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock worth $154,000 after purchasing an additional 1,660 shares during the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in MediaAlpha in the third quarter valued at about $162,000. Institutional investors own 64.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on MAX shares. BMO Capital Markets upgraded shares of MediaAlpha from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $9.00 to $28.00 in a research note on Monday, February 26th. TD Cowen started coverage on MediaAlpha in a research note on Wednesday, January 10th. They set an “outperform” rating and a $15.00 price target for the company. Canaccord Genuity Group boosted their target price on MediaAlpha from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Royal Bank of Canada upped their target price on MediaAlpha from $12.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of MediaAlpha from $18.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, MediaAlpha presently has an average rating of “Moderate Buy” and an average target price of $21.50.

MediaAlpha Company Profile

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.