MediaAlpha, Inc. (NYSE:MAX) Receives $18.20 Consensus PT from Analysts

Shares of MediaAlpha, Inc. (NYSE:MAX) have been given an average recommendation of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $18.20.

MAX has been the topic of several research analyst reports. BMO Capital Markets upgraded MediaAlpha from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $9.00 to $28.00 in a report on Monday, February 26th. Canaccord Genuity Group raised their price target on MediaAlpha from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Royal Bank of Canada raised their price target on MediaAlpha from $12.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, February 21st. Finally, TD Cowen started coverage on MediaAlpha in a report on Wednesday, January 10th. They issued an “outperform” rating and a $15.00 price target on the stock.

MediaAlpha Stock Performance

Shares of MAX stock opened at $20.37 on Friday. The stock’s fifty day moving average is $17.18 and its 200-day moving average is $12.35. The stock has a market capitalization of $1.33 billion, a PE ratio of -22.89 and a beta of 1.36. MediaAlpha has a 52 week low of $5.08 and a 52 week high of $22.81.

MediaAlpha (NYSE:MAX) last announced its earnings results on Tuesday, February 20th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.16. The business had revenue of $117.17 million for the quarter, compared to the consensus estimate of $111.36 million. As a group, analysts forecast that MediaAlpha will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $19.85, for a total value of $58,557,500.00. Following the transaction, the insider now owns 50,000 shares of the company’s stock, valued at $992,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 9.64% of the company’s stock.

Institutional Investors Weigh In On MediaAlpha

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC raised its holdings in MediaAlpha by 0.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,004,235 shares of the company’s stock valued at $61,904,000 after acquiring an additional 36,314 shares in the last quarter. Vanguard Group Inc. raised its holdings in MediaAlpha by 6.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,202,765 shares of the company’s stock valued at $19,274,000 after acquiring an additional 133,920 shares in the last quarter. BlackRock Inc. raised its holdings in MediaAlpha by 14.9% in the 2nd quarter. BlackRock Inc. now owns 1,763,968 shares of the company’s stock valued at $18,187,000 after acquiring an additional 229,336 shares in the last quarter. Norges Bank acquired a new position in MediaAlpha in the 4th quarter valued at $15,920,000. Finally, Geode Capital Management LLC raised its holdings in MediaAlpha by 5.6% in the 2nd quarter. Geode Capital Management LLC now owns 471,095 shares of the company’s stock valued at $4,857,000 after acquiring an additional 25,087 shares in the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

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.