MediaAlpha, Inc. (NYSE:MAX) Stock Has Average Price Target of $14.29

Shares of MediaAlpha, Inc. (NYSE:MAX) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $14.29.

Several research analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of MediaAlpha from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. The Goldman Sachs Group boosted their target price on MediaAlpha from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Royal Bank Of Canada upped their target price on MediaAlpha from $11.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. TD Cowen decreased their price target on 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 MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 30th.

MediaAlpha Stock Down 5.3%

MAX stock opened at $10.12 on Friday. The company has a market capitalization of $619.64 million, a P/E ratio of 6.24 and a beta of 1.14. The company has a 50-day simple moving average of $11.59 and a 200 day simple moving average of $10.87. MediaAlpha has a fifty-two week low of $7.09 and a fifty-two week high of $14.70.

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

Insider Transactions at MediaAlpha

In related news, CTO Kuanling Yeh sold 12,000 shares of MediaAlpha stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $13.55, for a total transaction of $162,600.00. Following the transaction, the chief technology officer directly owned 541,985 shares of the company’s stock, valued at $7,343,896.75. The trade was a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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, insider Steven Yi sold 72,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $12.64, for a total transaction of $910,080.00. Following the completion of the sale, the insider owned 2,387,690 shares in the company, valued at approximately $30,180,401.60. This trade represents a 2.93% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 ninety days, insiders sold 404,457 shares of company stock worth $5,048,676. Corporate insiders own 14.65% of the company’s stock.

Institutional Trading of MediaAlpha

Hedge funds and other institutional investors have recently made changes to their positions in the business. Triad Investment Management grew its position in MediaAlpha by 10.4% in the second quarter. Triad Investment Management now owns 368,731 shares of the company’s stock worth $4,635,000 after buying an additional 34,867 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of MediaAlpha by 8.7% in the second quarter. Squarepoint Ops LLC now owns 234,255 shares of the company’s stock valued at $2,945,000 after buying an additional 18,714 shares in the last quarter. Corient Private Wealth LP lifted its position in shares of MediaAlpha by 50.7% during the 2nd quarter. Corient Private Wealth LP now owns 23,451 shares of the company’s stock valued at $295,000 after acquiring an additional 7,892 shares during the last quarter. AXQ Capital LP acquired a new stake in shares of MediaAlpha during the 2nd quarter valued at $316,000. Finally, Globeflex Capital L P bought a new stake in shares of MediaAlpha during the 2nd quarter worth $702,000. 64.39% of the stock is currently owned by institutional investors.

MediaAlpha Company Profile

MediaAlpha, Inc (NYSE: MAX) operates a technology platform designed to help insurance companies and distributors acquire customers through digital channels. Its platform connects consumers who are shopping for insurance with providers and other distribution partners, using data, analytics and automated transactions to facilitate customer acquisition.

The company’s services primarily support insurance shopping and marketing across categories such as auto, home, health and life insurance.