MediaAlpha, Inc. (NYSE:MAX) Receives $21.57 Average Target Price from Analysts

MediaAlpha, Inc. (NYSE:MAX) has been given an average recommendation of “Moderate Buy” by the seven research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $21.57.

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reduced their target price on shares of MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. The Goldman Sachs Group reduced their price objective on shares of MediaAlpha from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. dropped their target price on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Finally, Royal Bank of Canada reduced their price target on shares of MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th.

MediaAlpha Price Performance

NYSE:MAX opened at $11.16 on Thursday. The company has a market cap of $743.86 million, a P/E ratio of 65.64 and a beta of 1.12. The firm’s fifty day moving average price is $11.64 and its two-hundred day moving average price is $14.78. MediaAlpha has a one year low of $10.21 and a one year high of $25.78.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The business had revenue of $259.13 million during the quarter, compared to analysts’ expectations of $246.96 million. As a group, equities research analysts expect that MediaAlpha will post 0.48 earnings per share for the current year.

Insiders Place Their Bets

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total value of $1,488,240.00. Following the completion of the transaction, the insider now directly owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in MediaAlpha by 11.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock worth $206,000 after acquiring an additional 1,213 shares during the last quarter. Hsbc Holdings PLC increased its holdings in MediaAlpha by 7.1% in the second quarter. Hsbc Holdings PLC now owns 23,791 shares of the company’s stock valued at $312,000 after purchasing an additional 1,582 shares during the period. Quarry LP raised its position in MediaAlpha by 157.8% during the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after purchasing an additional 1,726 shares during the last quarter. Rhumbline Advisers lifted its holdings in MediaAlpha by 7.3% during the 2nd quarter. Rhumbline Advisers now owns 36,751 shares of the company’s stock worth $484,000 after buying an additional 2,511 shares during the period. Finally, MetLife Investment Management LLC grew its position in shares of MediaAlpha by 28.8% in the 3rd quarter. MetLife Investment Management LLC now owns 17,446 shares of the company’s stock valued at $316,000 after buying an additional 3,906 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

MediaAlpha Company Profile

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.