Brokerages Set MediaAlpha, Inc. (NYSE:MAX) PT at $24.14

Shares of MediaAlpha, Inc. (NYSE:MAX) have received an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $24.14.

Several equities analysts have weighed in on MAX shares. Royal Bank of Canada cut their target price on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their target price on MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods lowered their price target on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th.

Insider Transactions at MediaAlpha

In other news, insider Eugene Nonko sold 72,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the completion of the transaction, the insider now owns 1,550,990 shares of the company’s stock, valued at approximately $32,058,963.30. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its position in shares of MediaAlpha by 15.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 84,155 shares of the company’s stock worth $1,108,000 after acquiring an additional 11,503 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in MediaAlpha by 354.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock worth $114,000 after buying an additional 6,728 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in MediaAlpha in the 2nd quarter valued at $225,000. Rhumbline Advisers raised its stake in shares of MediaAlpha by 7.3% in the 2nd quarter. Rhumbline Advisers now owns 36,751 shares of the company’s stock valued at $484,000 after buying an additional 2,511 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of MediaAlpha during the 2nd quarter worth about $477,000. 64.39% of the stock is currently owned by institutional investors.

MediaAlpha Stock Performance

Shares of NYSE MAX opened at $11.14 on Friday. The business has a 50 day simple moving average of $13.32 and a 200 day simple moving average of $15.21. MediaAlpha has a 52 week low of $10.21 and a 52 week high of $25.78. The stock has a market cap of $742.64 million, a price-to-earnings ratio of 65.53 and a beta of 1.10.

MediaAlpha (NYSE:MAX) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The company had revenue of $259.13 million during the quarter, compared to the consensus estimate of $246.96 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. On average, analysts predict that MediaAlpha will post 0.42 EPS for the current year.

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.