MediaAlpha, Inc. (NYSE:MAX) Given Average Rating of “Moderate Buy” by Brokerages

MediaAlpha, Inc. (NYSE:MAX) has received an average rating of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $22.43.

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

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the company’s 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 filing with the SEC, which can be accessed through the SEC website. In other 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 transaction of $95,003,800.00. Following the transaction, the insider now owns 17,856,614 shares of the company’s stock, valued at $339,275,666. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were 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 Inflows and Outflows

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

MediaAlpha Stock Down 1.3 %

Shares of NYSE MAX opened at $12.52 on Friday. The firm has a market cap of $824.32 million, a P/E ratio of -18.41 and a beta of 1.20. The company has a 50 day moving average of $17.66 and a 200 day moving average of $16.60. MediaAlpha has a twelve month low of $7.62 and a twelve month high of $25.78.

MediaAlpha (NYSE:MAX) 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 business had revenue of $126.60 million for the quarter, compared to the consensus estimate of $111.17 million. The company’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.23) EPS. As a group, equities analysts expect that MediaAlpha will post -0.09 earnings per share for the current fiscal year.

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.