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Investing in MediaAlpha Inc (MAX) Is Getting More Attractive

MediaAlpha Inc’s recent filing unveils that its 10% Owner INSIGNIA CAPITAL PARTNERS GP, unloaded Company’s shares for reported $58.56 million on Mar 12 ’24. In the deal valued at $19.85 per share,2,950,000 shares were sold. As a result of this transaction, INSIGNIA CAPITAL PARTNERS GP, now holds 50,000 shares worth roughly $1.01 million.

Then, WHITE MOUNTAINS INSURANCE GROU bought 5,916,816 shares, generating $59,168,160 in total proceeds. Upon buying the shares at $10.00, the Director now owns 22,856,814 shares.

BMO Capital Markets upgraded its MediaAlpha Inc [MAX] rating to an Outperform from a a Market perform in a research note published on February 26, 2024; the price target was increased to $28 from $9. A number of analysts have revised their coverage, including TD Cowen’s analysts, who began to cover the stock in early January with a ‘”an Outperform”‘ rating. Citigroup also remained covering MAX and has decreased its forecast on August 04, 2023 with a “Sell” recommendation from previously “Neutral” rating. BMO Capital Markets started covering the stock on January 20, 2023. It rated MAX as “a Market perform”.

Price Performance Review of MAX

On Tuesday, MediaAlpha Inc [NYSE:MAX] saw its stock jump 7.77% to $20.25. Over the last five days, the stock has gained 6.58%. MediaAlpha Inc shares have risen nearly 81.61% since the year began. Nevertheless, the stocks have risen 173.65% over the past one year. While a 52-week high of $22.81 was reached on 03/07/24, a 52-week low of $5.08 was recorded on 01/16/24. SMA at 50 days reached $19.69, while 200 days put it at $12.45. A total of 0.78 million shares were traded, compared to the trading of 0.47 million shares in the previous session.

Levels Of Support And Resistance For MAX Stock

The 24-hour chart illustrates a support level at 19.02, which if violated will result in even more drops to 17.79. On the upside, there is a resistance level at 21.25. A further resistance level may holdings at 22.24. The Relative Strength Index (RSI) on the 14-day chart is 59.49, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.17, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 30.52%. Stochastics %K at 45.43% indicates the stock is a holding.

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