Keefe, Bruyette & Woods Cuts MediaAlpha (NYSE:MAX) Price Target to $15.00
by Renee Jackson · The Cerbat GemMediaAlpha (NYSE:MAX – Free Report) had its price objective cut by Keefe, Bruyette & Woods from $16.00 to $15.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.
MAX has been the subject of a number of other reports. JPMorgan Chase & Co. cut their price objective on MediaAlpha from $15.00 to $11.00 and set an “overweight” rating for the company in a research report on Tuesday, February 24th. Zacks Research cut MediaAlpha from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 25th. Weiss Ratings upgraded MediaAlpha from a “sell (d)” rating to a “hold (c-)” rating in a research report on Wednesday, February 25th. Royal Bank Of Canada dropped their price target on MediaAlpha from $18.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. Finally, Wall Street Zen cut MediaAlpha from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, MediaAlpha currently has an average rating of “Moderate Buy” and a consensus target price of $12.70.
Check Out Our Latest Report on MediaAlpha
MediaAlpha Price Performance
MediaAlpha stock opened at $9.34 on Tuesday. The stock has a market capitalization of $602.11 million, a PE ratio of 23.94 and a beta of 1.39. MediaAlpha has a 12 month low of $7.09 and a 12 month high of $13.92. The business has a 50 day simple moving average of $9.18 and a 200-day simple moving average of $11.04.
MediaAlpha (NYSE:MAX – Get Free Report) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.25. The business had revenue of $291.16 million during the quarter, compared to analysts’ expectations of $296.42 million. MediaAlpha had a negative return on equity of 132.73% and a net margin of 2.30%.The business’s revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.08 earnings per share. On average, equities research analysts anticipate that MediaAlpha will post 0.48 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, CRO Keith Cramer sold 10,000 shares of the company’s stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $11.37, for a total value of $113,700.00. Following the transaction, the executive owned 177,169 shares of the company’s stock, valued at $2,014,411.53. This represents a 5.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eugene Nonko sold 59,202 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $10.01, for a total value of $592,612.02. Following the completion of the transaction, the director directly owned 1,395,320 shares in the company, valued at approximately $13,967,153.20. This trade represents a 4.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 482,089 shares of company stock worth $4,843,295. Company insiders own 14.65% of the company’s stock.
Hedge Funds Weigh In On MediaAlpha
Several large investors have recently modified their holdings of MAX. Creative Planning acquired a new position in shares of MediaAlpha in the 2nd quarter valued at $168,000. JPMorgan Chase & Co. lifted its stake in shares of MediaAlpha by 75.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 542,246 shares of the company’s stock valued at $5,938,000 after purchasing an additional 233,948 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of MediaAlpha by 29.3% in the 2nd quarter. Legal & General Group Plc now owns 36,315 shares of the company’s stock valued at $398,000 after purchasing an additional 8,229 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of MediaAlpha by 34.4% in the 2nd quarter. Rhumbline Advisers now owns 55,622 shares of the company’s stock valued at $609,000 after purchasing an additional 14,234 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of MediaAlpha in the 2nd quarter valued at $153,000. Institutional investors and hedge funds own 64.39% of the company’s stock.
About MediaAlpha
MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company’s platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.
The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.