MediaAlpha, Inc. (NYSE:MAX) Receives $22.43 Average Target Price from Brokerages

Shares of MediaAlpha, Inc. (NYSE:MAX) have earned an average recommendation of “Moderate Buy” from the seven brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $22.43.

MAX has been the subject of several recent research reports. JPMorgan Chase & Co. upped their price objective on MediaAlpha from $18.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $25.00 price target (up from $19.00) on shares of MediaAlpha in a research report on Wednesday, May 15th. TD Cowen cut MediaAlpha from a “buy” rating to a “hold” rating and reduced their price target for the company from $19.00 to $13.00 in a research report on Wednesday, June 26th. Canaccord Genuity Group increased their price target on MediaAlpha from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Finally, Royal Bank of Canada increased their price target on MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, May 28th.

MediaAlpha Price Performance

MAX stock opened at $12.69 on Friday. The stock has a market capitalization of $835.51 million, a P/E ratio of -18.66 and a beta of 1.21. The business has a 50-day moving average of $17.91 and a 200-day moving average of $16.66. MediaAlpha has a fifty-two week low of $7.62 and a fifty-two week high of $25.78.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.09. The firm had revenue of $126.60 million for the quarter, compared to analyst estimates of $111.17 million. The firm’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.23) earnings per share. Equities analysts expect that MediaAlpha will post -0.09 EPS 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 company’s stock in a transaction that occurred 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 owns 17,856,614 shares in the company, valued at $339,275,666. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the stock in a transaction that occurred 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 17,856,614 shares in the company, valued at approximately $339,275,666. The disclosure for this sale can be found here. Corporate insiders own 11.53% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in MediaAlpha by 15.0% during the first quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock worth $43,168,000 after buying an additional 276,641 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in MediaAlpha during the first quarter worth approximately $22,181,000. Silvercrest Asset Management Group LLC grew 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 worth $7,649,000 after buying an additional 1,667 shares in the last quarter. Norden Group LLC grew its position in MediaAlpha by 1,767.2% during the first quarter. Norden Group LLC now owns 263,592 shares of the company’s stock worth $5,369,000 after buying an additional 249,475 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of MediaAlpha in the 1st quarter valued at $4,062,000. Institutional investors own 64.39% of the company’s stock.

About MediaAlpha

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.