Texas Capital Upgrades MediaAlpha (NYSE:MAX) to Strong-Buy

MediaAlpha (NYSE:MAX) was upgraded by Texas Capital to a “strong-buy” rating in a report issued on Tuesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings raised MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Keefe, Bruyette & Woods dropped their price objective on MediaAlpha from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Royal Bank Of Canada lowered their price target on MediaAlpha from $18.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. Wall Street Zen cut MediaAlpha from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, JPMorgan Chase & Co. boosted their price target on MediaAlpha from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.58.

MediaAlpha Stock Up 3.2%

MAX stock opened at $9.61 on Tuesday. The business has a 50 day moving average price of $9.13 and a two-hundred day moving average price of $10.23. The company has a market cap of $599.25 million, a price-to-earnings ratio of 15.02 and a beta of 1.16. MediaAlpha has a twelve month low of $7.09 and a twelve month high of $13.92.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, April 29th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The business had revenue of $310.00 million for the quarter, compared to the consensus estimate of $298.91 million. MediaAlpha had a negative return on equity of 147.82% and a net margin of 3.37%.The business’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. On average, equities research analysts anticipate that MediaAlpha will post 1.02 EPS for the current fiscal year.

Insider Transactions at MediaAlpha

In other MediaAlpha news, General Counsel Jeffrey B. Coyne sold 5,000 shares of the company’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $8.10, for a total value of $40,500.00. Following the sale, the general counsel owned 591,764 shares in the company, valued at approximately $4,793,288.40. The trade was a 0.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Kuanling Amy Yeh sold 3,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $8.89, for a total value of $26,670.00. Following the completion of the sale, the chief technology officer owned 569,985 shares in the company, valued at $5,067,166.65. This trade represents a 0.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 459,940 shares of company stock worth $4,512,545. 14.65% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its stake in MediaAlpha by 5,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock worth $28,000 after buying an additional 2,124 shares during the period. Rockefeller Capital Management L.P. raised its stake in MediaAlpha by 9,917.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock worth $36,000 after buying an additional 2,777 shares during the period. Quarry LP raised its stake in MediaAlpha by 43.3% during the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after buying an additional 1,234 shares during the period. Strs Ohio acquired a new position in MediaAlpha during the 4th quarter worth approximately $49,000. Finally, Tower Research Capital LLC TRC raised its stake in MediaAlpha by 28.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock worth $61,000 after buying an additional 1,213 shares during the period. 64.39% of the stock is owned by institutional investors and hedge funds.

MediaAlpha Company Profile

MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company’s platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.

The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.