MediaAlpha (NYSE:MAX) Stock Rating Lowered by TD Cowen

TD Cowen downgraded shares of MediaAlpha (NYSE:MAX) from a buy rating to a hold rating in a research note published on Wednesday, Marketbeat Ratings reports. They currently have $13.00 price objective on the stock, down from their prior price objective of $19.00.

A number of other analysts have also commented on MAX. Canaccord Genuity Group boosted their price objective on shares of MediaAlpha from $25.00 to $30.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. boosted 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 company an outperform rating in a report on Tuesday, May 28th. Finally, Keefe, Bruyette & Woods reiterated an outperform rating and issued a $25.00 price target (up previously from $19.00) on shares of MediaAlpha in a research note on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, MediaAlpha has an average rating of Moderate Buy and a consensus price target of $22.43.

MediaAlpha Trading Up 1.0 %

MAX stock opened at $13.18 on Wednesday. The stock has a market cap of $867.77 million, a PE ratio of -19.38 and a beta of 1.26. The stock has a 50-day moving average price of $18.16 and a two-hundred day moving average price of $16.55. MediaAlpha has a 1 year low of $7.62 and a 1 year high of $25.78.

MediaAlpha (NYSE:MAX) last announced its earnings results 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 firm had revenue of $126.60 million during the quarter, compared to analyst estimates of $111.17 million. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.23) EPS. On average, analysts forecast that MediaAlpha will post -0.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $19.00, for a total value of $49,206,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the business’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 completion of the sale, the insider now directly owns 17,856,614 shares in the company, valued at approximately $339,275,666. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $49,206,200.00. The disclosure for this sale can be found here. Company insiders own 11.53% of the company’s stock.

Institutional Investors Weigh In On MediaAlpha

A number of institutional investors have recently modified their holdings of MAX. Tower Research Capital LLC TRC increased its position in MediaAlpha by 111.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock worth $50,000 after acquiring an additional 2,343 shares during the period. EntryPoint Capital LLC acquired a new stake in MediaAlpha during the first quarter worth approximately $136,000. Baker Tilly Wealth Management LLC increased its stake in MediaAlpha by 13.7% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock worth $154,000 after acquiring an additional 1,660 shares during the period. Lazard Asset Management LLC bought a new position in MediaAlpha during the 1st quarter worth $165,000. Finally, Hsbc Holdings PLC acquired a new position in MediaAlpha in the 3rd quarter valued at $172,000. Institutional investors 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.