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

by · The Markets Daily

Shares of MediaAlpha, Inc. (NYSE:MAX – Get Free Report) have been given an average rating of “Moderate Buy” by the seven research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $22.43.

Several analysts have weighed in on the company. TD Cowen cut MediaAlpha from a “buy” rating to a “hold” rating and cut their price objective for the company from $19.00 to $13.00 in a research report on Wednesday, June 26th. Canaccord Genuity Group upped their price target on MediaAlpha from $25.00 to $30.00 and gave the stock a “buy” rating in a research note 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 restated an “outperform” rating and set a $25.00 target price (up previously from $19.00) on shares of MediaAlpha in a report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of MediaAlpha from $18.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd.

Check Out Our Latest Analysis on MAX

Insider Buying and Selling

In other MediaAlpha news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of MediaAlpha stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $19.00, for a total value 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 $339,275,666. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the 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 legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the business’s stock in a transaction dated 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 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 disclosure for this sale can be found here. 11.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Janus Henderson Group PLC bought a new stake in MediaAlpha in the 1st quarter worth approximately $284,000. Silvercrest Asset Management Group LLC increased its position in MediaAlpha by 0.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 375,509 shares of the company’s stock valued at $7,649,000 after acquiring an additional 1,667 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in MediaAlpha by 9.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock valued at $292,000 after acquiring an additional 1,235 shares during the period. Lazard Asset Management LLC purchased a new position in MediaAlpha in the first quarter worth about $165,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of MediaAlpha during the 1st quarter valued at about $136,000. 64.39% of the stock is owned by hedge funds and other institutional investors.

MediaAlpha Stock Down 0.1 %

Shares of MediaAlpha stock opened at $12.51 on Friday. The business has a 50 day moving average of $17.53 and a 200 day moving average of $16.65. MediaAlpha has a 52 week low of $7.62 and a 52 week high of $25.78. The company has a market cap of $823.70 million, a PE ratio of -18.40 and a beta of 1.20.

MediaAlpha (NYSE:MAX – Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. The company had revenue of $126.60 million for the quarter, compared to analysts’ expectations of $111.17 million. During the same period in the previous year, the firm posted ($0.23) earnings per share. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, research analysts anticipate that MediaAlpha will post -0.09 earnings per share for the current year.

MediaAlpha Company Profile

(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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