Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. MediaAlpha Inc shares valued at $58,557,500 were sold by INSIGNIA CAPITAL PARTNERS GP, on Mar 12 ’24. At $19.85 per share, INSIGNIA CAPITAL PARTNERS GP, sold 2,950,000 shares. The insider’s holdings dropped to 50,000 shares worth approximately $1.01 million following the completion of this transaction.
Also, WHITE MOUNTAINS INSURANCE GROU purchased 5,916,816 shares, netting a total of over 59,168,160 in proceeds. Following the buying of shares at $10.00 each, the insider now holds 22,856,814 shares.
As published in a research note from BMO Capital Markets on February 26, 2024, MediaAlpha Inc [MAX] has been rated up from a Market perform to an Outperform and the price target has been revised to $28 from $9. Analysts at TD Cowen started covering the stock with ‘”an Outperform”‘ outlook in a report released in early January. As of August 04, 2023, Citigroup has decreased its “Neutral” rating to a “Sell” for MAX. Earlier on January 20, 2023, BMO Capital Markets initiated its rating. Their recommendation was “a Market perform” for MAX stock.
Analyzing MAX Stock Performance
During the last five days, there has been a surge of approximately 8.99%. Over the course of the year, MediaAlpha Inc shares have jumped approximately 80.45%. Shares of the company reached a 52-week high of $22.81 on 03/07/24 and a 52-week low of $10.26 on 01/16/24. A 50-day SMA is recorded $18.34, while a 200-day SMA reached $11.85. Nevertheless, trading volume fell to 1.04 million shares from 0.19 million shares the previous day.
Support And Resistance Levels for MediaAlpha Inc (MAX)
According to the 24-hour chart, there is a support level at 19.14, which, if violated, would cause prices to drop to 18.17. In the upper region, resistance lies at 20.79. The next price resistance is at 21.47. RSI (Relative Strength Index) is 58.40 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.38, which suggests the price will decrease in the coming days. Percent R is at 27.24%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is MediaAlpha Inc subject to short interest?
Stocks of MediaAlpha Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by -0.69 million shares to 0.55 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 1.24 million shares. A decline of -126.51% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.26 of the overall float, the days-to-cover ratio (short ratio) decline to 1.26.
