MediaAlpha (NYSE:MAX) Price Target Raised to $14.00

MediaAlpha (NYSE:MAX) had its price objective lifted by The Goldman Sachs Group from $10.00 to $14.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Zacks Research lowered shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Texas Capital raised shares of MediaAlpha to a “strong-buy” rating in a report on Tuesday, June 9th. Keefe, Bruyette & Woods upped their target price on shares of MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 8th. TD Cowen cut 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. Finally, Canaccord Genuity Group lifted their price target on shares of MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $13.29.

MediaAlpha Stock Down 8.9%

NYSE MAX opened at $12.34 on Thursday. MediaAlpha has a twelve month low of $7.09 and a twelve month high of $14.70. The business has a 50-day moving average price of $11.55 and a 200-day moving average price of $10.19. The firm has a market cap of $769.46 million, a price-to-earnings ratio of 7.62 and a beta of 1.08.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $300.87 million. Research analysts expect that MediaAlpha will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling at MediaAlpha

In other news, Director Eugene Nonko sold 25,352 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $13.86, for a total transaction of $351,378.72. Following the completion of the transaction, the director directly owned 1,137,304 shares in the company, valued at approximately $15,763,033.44. This represents a 2.18% decrease in their position. The transaction was disclosed in a legal filing 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 the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $9.47, for a total transaction of $123,110.00. Following the completion of the transaction, the executive directly owned 280,528 shares of the company’s stock, valued at approximately $2,656,600.16. This trade represents a 4.43% decrease in their ownership of the stock. 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. Insiders sold 440,820 shares of company stock worth $5,368,786 in the last quarter. 14.65% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MediaAlpha

A number of hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd grew its stake in shares of MediaAlpha by 5,900.0% in 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 in the last quarter. Rockefeller Capital Management L.P. raised 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 valued at $36,000 after buying an additional 2,777 shares in the last quarter. Quarry LP raised its position in shares of MediaAlpha by 43.3% during the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock valued at $47,000 after buying an additional 1,234 shares in the last quarter. Strs Ohio bought a new position in shares of MediaAlpha in the 4th quarter valued at about $49,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of MediaAlpha by 28.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock valued at $61,000 after acquiring an additional 1,213 shares during the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

About MediaAlpha

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.