In a filing, MediaAlpha Inc revealed its 10% Owner INSIGNIA CAPITAL PARTNERS GP, unloaded Company’s shares for reported $49.21 million on May 10 ’24. In the deal valued at $19.00 per share,2,589,800 shares were sold. As a result of this transaction, INSIGNIA CAPITAL PARTNERS GP, now holds 0 shares worth roughly $0.0.
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Then, WHITE MOUNTAINS INSURANCE GROU sold 5,000,200 shares, generating $95,003,800 in total proceeds. Upon selling the shares at $19.00, the 10% Owner now owns 17,856,614 shares.
Before that, INSIGNIA CAPITAL PARTNERS GP, sold 2,950,000 shares. MediaAlpha Inc shares valued at $58,557,500 were divested by the 10% Owner at a price of $19.85 per share. As a result of the transaction, INSIGNIA CAPITAL PARTNERS GP, now holds 50,000 shares, worth roughly $0.85 million.
TD Cowen downgraded its MediaAlpha Inc [MAX] rating to a Hold from a a Buy in a research note published on June 26, 2024; the price target was decreased to $13 from $19. A number of analysts have revised their coverage, including BMO Capital Markets’s analysts, who increased its forecast for the stock in late February from “a Market perform” to “an Outperform”. TD Cowen began covering MAX with “an Outperform” recommendation on January 10, 2024. Citigroup revised its rating on August 04, 2023. It rated MAX as “a Sell” which previously was an “a Neutral”.
Price Performance Review of MAX
On Friday, MediaAlpha Inc [NYSE:MAX] saw its stock fall -1.91% to $16.98. Over the last five days, the stock has gained 13.05%. MediaAlpha Inc shares have risen nearly 52.29% since the year began. Nevertheless, the stocks have risen 88.04% over the past one year. While a 52-week high of $25.78 was reached on 05/02/24, a 52-week low of $7.62 was recorded on 01/16/24. SMA at 50 days reached $15.07, while 200 days put it at $15.30.
Levels Of Support And Resistance For MAX Stock
The 24-hour chart illustrates a support level at 16.71, which if violated will result in even more drops to 16.43. On the upside, there is a resistance level at 17.33. A further resistance level may holdings at 17.67. The Relative Strength Index (RSI) on the 14-day chart is 62.42, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.09, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 45.67%. Stochastics%K at 56.47% indicates the stock is a holding.
How much short interest is there in MediaAlpha Inc?
A steep rise in short interest was recorded in MediaAlpha Inc stocks on 2024-07-31, dropping by -0.58 million shares to a total of 2.27 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 2.85 million shares. There was a decline of -25.63%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on January 20, 2023 when BMO Capital Markets began covering the stock and recommended ‘”a Market perform”‘ rating along with a $10 price target.
