MediaAlpha, Inc. (NYSE:MAX) Short Interest Down 26.3% in February

MediaAlpha, Inc. (NYSE:MAX) was the target 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. Based on an average daily volume of 541,000 shares, the short-interest ratio is presently 2.5 days. Approximately 4.3% of the company’s stock are short sold.

MediaAlpha Price Performance

NYSE:MAX traded up $0.29 during mid-day trading on Monday, reaching $9.59. The stock had a trading volume of 421,631 shares, compared to its average volume of 613,742. The stock’s 50 day simple moving average is $10.88 and its two-hundred day simple moving average is $13.52. MediaAlpha has a 1-year low of $8.21 and a 1-year high of $25.78. The company has a market capitalization of $642.95 million, a price-to-earnings ratio of 56.42 and a beta of 1.15.

MediaAlpha (NYSE:MAX) last issued its earnings results on Monday, February 24th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The business had revenue of $300.65 million for the quarter, compared to analyst estimates of $289.38 million. Sell-side analysts anticipate that MediaAlpha will post 0.48 EPS for the current fiscal year.

Institutional Trading of MediaAlpha

Several large investors have recently added to or reduced their stakes in the business. TimesSquare Capital Management LLC increased its stake in MediaAlpha by 77.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company’s stock valued at $18,389,000 after buying an additional 712,410 shares during the period. Clearline Capital LP boosted its holdings in shares of MediaAlpha by 115.3% in the third quarter. Clearline Capital LP now owns 1,241,419 shares of the company’s stock valued at $22,482,000 after acquiring an additional 664,691 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of MediaAlpha by 2,683.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 476,342 shares of the company’s stock valued at $5,378,000 after acquiring an additional 459,227 shares during the period. AQR Capital Management LLC raised its holdings in MediaAlpha by 570.7% during the fourth quarter. AQR Capital Management LLC now owns 472,215 shares of the company’s stock worth $5,331,000 after purchasing an additional 401,807 shares in the last quarter. Finally, CenterBook Partners LP lifted its position in MediaAlpha by 485.7% in the fourth quarter. CenterBook Partners LP now owns 471,864 shares of the company’s stock worth $5,327,000 after purchasing an additional 391,298 shares during the period. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Keefe, Bruyette & Woods dropped their price target on shares of MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. Canaccord Genuity Group dropped their target price on MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. reduced their price target on MediaAlpha from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Royal Bank of Canada restated an “outperform” rating and set a $20.00 price objective on shares of MediaAlpha in a report on Tuesday, February 25th. Finally, The Goldman Sachs Group cut their target price on MediaAlpha from $23.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, MediaAlpha currently has a consensus rating of “Moderate Buy” and an average price target of $17.50.

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.