MediaAlpha (NYSE:MAX) Downgraded by Zacks Research to Hold

Zacks Research downgraded shares of MediaAlpha (NYSE:MAX) from a strong-buy rating to a hold rating in a report issued on Wednesday morning,Zacks reports.

Several other research analysts also recently issued reports on MAX. JPMorgan Chase & Co. initiated coverage on shares of MediaAlpha in a research report on Monday, August 24th. They set a “neutral” rating and a $15.00 price target on the stock. Keefe, Bruyette & Woods raised their price objective on shares of MediaAlpha from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. TD Cowen dropped their target price on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday, June 23rd. Weiss Ratings upgraded shares of MediaAlpha from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Finally, Wall Street Zen upgraded shares of MediaAlpha from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $13.79.

MediaAlpha Stock Performance

Shares of MAX opened at $12.45 on Wednesday. The company has a market cap of $762.38 million, a price-to-earnings ratio of 7.68 and a beta of 1.14. The stock has a fifty day moving average price of $11.30 and a two-hundred day moving average price of $11.00. MediaAlpha has a 52-week low of $7.09 and a 52-week high of $14.70.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, July 29th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.23 by $0.42. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%. The company had revenue of $316.88 million for the quarter, compared to analysts’ expectations of $300.87 million. As a group, research analysts predict that MediaAlpha will post 1.40 EPS for the current fiscal year.

Insider Transactions at MediaAlpha

In related news, insider Steven Yi sold 72,000 shares of MediaAlpha stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $12.64, for a total value of $910,080.00. Following the completion of the sale, the insider directly owned 2,387,690 shares in the company, valued at $30,180,401.60. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, CRO Keith Cramer sold 13,000 shares of MediaAlpha stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $12.76, for a total value of $165,880.00. Following the completion of the sale, the executive owned 264,303 shares of the company’s stock, valued at approximately $3,372,506.28. The trade was a 4.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last three months, insiders sold 438,875 shares of company stock worth $5,391,177. 14.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Rockefeller Capital Management L.P. grew its position in shares of 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. SG Americas Securities LLC boosted its stake in MediaAlpha by 23.2% in the first quarter. SG Americas Securities LLC now owns 19,473 shares of the company’s stock valued at $181,000 after acquiring an additional 3,668 shares during the last quarter. State of Wyoming boosted its stake in MediaAlpha by 10.7% in the first quarter. State of Wyoming now owns 43,001 shares of the company’s stock valued at $400,000 after acquiring an additional 4,169 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in MediaAlpha by 11.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,885 shares of the company’s stock worth $435,000 after acquiring an additional 4,935 shares during the period. Finally, Corient Private Wealth LP grew its holdings in MediaAlpha by 50.7% during the 2nd quarter. Corient Private Wealth LP now owns 23,451 shares of the company’s stock worth $295,000 after acquiring an additional 7,892 shares during the period. Institutional investors own 64.39% of the company’s stock.

Trending Headlines about MediaAlpha

Here are the key news stories impacting MediaAlpha this week:

• Positive Sentiment: MediaAlpha’s most recent reported quarter materially exceeded expectations, with earnings of $0.65 per share versus the $0.23 consensus estimate and revenue of $316.9 million versus the $300.9 million forecast. Analysts expect approximately $1.40 in full-year EPS, providing a favorable fundamental backdrop.
• Positive Sentiment: Analyst sentiment remains generally constructive. MediaAlpha has a consensus “Moderate Buy” rating and an average price target of $13.79, above the stock’s recently cited trading level. Canaccord Genuity and RBC have price targets of $17 and $15, respectively.
• Neutral Sentiment: CRO Keith Cramer sold 12,000 shares for approximately $136,680, reducing his direct holdings by 4.78%. Director Eugene Nonko sold a combined 18,426 shares across transactions on October 19 and 21. All sales were made under pre-arranged Rule 10b5-1 plans to cover tax-withholding obligations from vested equity awards, limiting their value as a signal about management’s outlook. MediaAlpha insider sales article
• Negative Sentiment: The concentration of sales by a senior executive and director may weigh on sentiment and add near-term selling pressure, even though the transactions were relatively small compared with their remaining holdings and were not discretionary open-market sales.

About MediaAlpha

MediaAlpha, Inc operates a technology platform that helps insurance carriers and distributors acquire customers through digital channels. Its marketplace connects consumers who are shopping for insurance with providers seeking qualified prospects, using data, analytics and automated systems to facilitate the matching process.

The company’s platform supports customer acquisition across insurance categories, including property and casualty products such as auto and home insurance, as well as health, life and Medicare-related coverage.