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Monitoring MediaAlpha Inc (MAX) after recent insider movements

MediaAlpha Inc’s filing revealed that its 10% Owner WHITE MOUNTAINS INSURANCE GROU unloaded Company’s shares for reported $95.0 million on May 07 ’24. In the deal valued at $19.00 per share,5,000,200 shares were sold. As a result of this transaction, WHITE MOUNTAINS INSURANCE GROU now holds 17,856,614 shares worth roughly $355.7 million.

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Then, INSIGNIA CAPITAL PARTNERS GP, sold 2,950,000 shares, generating $58,557,500 in total proceeds. Upon selling the shares at $19.85, the 10% Owner now owns 50,000 shares.

Before that, WHITE MOUNTAINS INSURANCE GROU bought 5,916,816 shares. MediaAlpha Inc shares valued at $59,168,160 were divested by the Director at a price of $10.00 per share. As a result of the transaction, WHITE MOUNTAINS INSURANCE GROU now holds 22,856,814 shares, worth roughly $455.31 million.

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 Friday, MediaAlpha Inc [NYSE:MAX] saw its stock fall -1.29% to $19.92. Over the last five days, the stock has lost -10.27%. MediaAlpha Inc shares have risen nearly 78.65% since the year began. Nevertheless, the stocks have risen 221.81% over the past one year. While a 52-week high of $25.78 was reached on 05/02/24, a 52-week low of $5.33 was recorded on 01/16/24. SMA at 50 days reached $19.88, while 200 days put it at $12.91. A total of 0.59 million shares were traded, compared to the trading of 1.17 million shares in the previous session.

Levels Of Support And Resistance For MAX Stock

The 24-hour chart illustrates a support level at 19.59, which if violated will result in even more drops to 19.25. On the upside, there is a resistance level at 20.18. A further resistance level may holdings at 20.43. The Relative Strength Index (RSI) on the 14-day chart is 49.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.26, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 79.30%. Stochastics %K at 22.58% indicates the stock is a holding.

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