MediaAlpha, Inc. (NYSE:MAX) Receives Average Rating of “Moderate Buy” from Analysts

by · The Cerbat Gem

MediaAlpha, Inc. (NYSE:MAX – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $22.43.

A number of brokerages have recently weighed in on MAX. JPMorgan Chase & Co. increased their price target on MediaAlpha from $18.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Royal Bank of Canada increased their price objective on MediaAlpha from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, May 28th. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $25.00 price objective (up from $19.00) on shares of MediaAlpha in a report on Wednesday, May 15th. TD Cowen lowered MediaAlpha from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $19.00 to $13.00 in a report on Wednesday, June 26th. Finally, Canaccord Genuity Group increased their price objective on MediaAlpha from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd.

Check Out Our Latest Report on MediaAlpha

MediaAlpha Trading Down 1.3 %

Shares of MediaAlpha stock opened at $12.52 on Friday. The business’s 50 day simple moving average is $17.66 and its 200-day simple moving average is $16.60. The stock has a market capitalization of $824.32 million, a price-to-earnings ratio of -18.41 and a beta of 1.20. MediaAlpha has a twelve month low of $7.62 and a twelve month high of $25.78.

MediaAlpha (NYSE:MAX – Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09. The company had revenue of $126.60 million for the quarter, compared to analyst estimates of $111.17 million. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.23) earnings per share. Sell-side analysts predict that MediaAlpha will post -0.09 earnings per share for the current year.

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $19.00, for a total transaction of $95,003,800.00. Following the completion of the transaction, the insider now directly owns 17,856,614 shares of the company’s stock, valued at approximately $339,275,666. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $19.00, for a total transaction of $49,206,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $19.00, for a total value of $95,003,800.00. Following the sale, the insider now directly owns 17,856,614 shares of the company’s stock, valued at $339,275,666. The disclosure for this sale can be found here. 11.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MediaAlpha

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of MediaAlpha by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock worth $43,168,000 after acquiring an additional 276,641 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of MediaAlpha during the 1st quarter worth $22,181,000. Silvercrest Asset Management Group LLC boosted its stake in shares of MediaAlpha by 0.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 375,509 shares of the company’s stock worth $7,649,000 after acquiring an additional 1,667 shares in the last quarter. Norden Group LLC boosted its stake in shares of MediaAlpha by 1,767.2% during the 1st quarter. Norden Group LLC now owns 263,592 shares of the company’s stock worth $5,369,000 after acquiring an additional 249,475 shares in the last quarter. Finally, Hillsdale Investment Management Inc. purchased a new stake in shares of MediaAlpha in the first quarter valued at $4,062,000. 64.39% of the stock is owned by institutional investors.

About MediaAlpha

(Get Free Report

MediaAlpha, Inc, through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.

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