MediaAlpha (NYSE:MAX) Trading Up 7.7%

MediaAlpha, Inc. (NYSE:MAX) shares were up 7.7% on Monday . The company traded as high as $18.17 and last traded at $18.08. Approximately 297,077 shares changed hands during trading, a decline of 48% from the average daily volume of 576,701 shares. The stock had previously closed at $16.79.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MAX. Royal Bank of Canada boosted their price target on MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. TD Cowen cut shares of 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. Keefe, Bruyette & Woods restated an “outperform” rating and set a $26.00 price objective (up previously from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group started coverage on shares of MediaAlpha in a research note on Tuesday, August 20th. They issued a “buy” rating and a $20.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, MediaAlpha has a consensus rating of “Moderate Buy” and a consensus target price of $24.29.

MediaAlpha Price Performance

The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -25.01 and a beta of 1.22. The firm’s 50 day moving average price is $15.64 and its 200-day moving average price is $17.65.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $178.27 million for the quarter, compared to the consensus estimate of $151.40 million. The firm’s revenue was up 110.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.32) EPS. Analysts expect that MediaAlpha, Inc. will post 0.35 EPS for the current year.

Institutional Trading of MediaAlpha

Institutional investors and hedge funds have recently bought and sold shares of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in MediaAlpha by 5.1% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,890 shares of the company’s stock worth $315,000 after buying an additional 1,150 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of MediaAlpha by 9.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock worth $292,000 after acquiring an additional 1,235 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of MediaAlpha by 7.1% in the second quarter. Hsbc Holdings PLC now owns 23,791 shares of the company’s stock worth $312,000 after acquiring an additional 1,582 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in shares of MediaAlpha by 0.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 375,509 shares of the company’s stock valued at $7,649,000 after purchasing an additional 1,667 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of MediaAlpha by 7.3% during the 2nd quarter. Rhumbline Advisers now owns 36,751 shares of the company’s stock valued at $484,000 after purchasing an additional 2,511 shares during the last quarter. 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.