MediaAlpha (NYSE:MAX) PT Raised to $30.00 at Canaccord Genuity Group

MediaAlpha (NYSE:MAX) had its price target increased by Canaccord Genuity Group from $25.00 to $30.00 in a report published on Thursday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on MAX. TD Cowen assumed coverage on shares of MediaAlpha in a report on Wednesday, January 10th. They set an outperform rating and a $15.00 target price on the stock. Royal Bank of Canada boosted their price target on MediaAlpha from $12.00 to $18.00 and gave the stock an outperform rating in a research report on Wednesday, February 21st. JPMorgan Chase & Co. raised their price objective on MediaAlpha from $18.00 to $30.00 and gave the company an overweight rating in a research report on Thursday. Finally, BMO Capital Markets raised MediaAlpha from a market perform rating to an outperform rating and boosted their target price for the stock from $9.00 to $28.00 in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $21.50.

MediaAlpha Stock Performance

MAX traded down $0.06 during trading hours on Thursday, hitting $22.14. 366,412 shares of the company’s stock were exchanged, compared to its average volume of 319,138. MediaAlpha has a 1-year low of $5.33 and a 1-year high of $25.78. The stock’s 50-day moving average is $19.89 and its two-hundred day moving average is $14.40.

MediaAlpha (NYSE:MAX) last released its earnings results on Wednesday, May 1st. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. The company had revenue of $126.60 million during the quarter, compared to analyst estimates of $111.17 million. MediaAlpha’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.23) EPS. Research analysts forecast that MediaAlpha will post -0.28 EPS for the current fiscal year.

Insider Transactions at MediaAlpha

In related news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now directly owns 50,000 shares in the company, valued at approximately $992,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MAX. Portside Wealth Group LLC grew its position in MediaAlpha by 9.1% during the fourth quarter. Portside Wealth Group LLC now owns 18,755 shares of the company’s stock worth $209,000 after buying an additional 1,567 shares in the last quarter. Baker Tilly Wealth Management LLC raised its position in shares of MediaAlpha by 13.7% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock valued at $154,000 after buying an additional 1,660 shares in the last quarter. Swiss National Bank lifted its holdings in shares of MediaAlpha by 4.6% during the 3rd quarter. Swiss National Bank now owns 45,400 shares of the company’s stock worth $375,000 after acquiring an additional 2,000 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of MediaAlpha by 111.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock worth $50,000 after acquiring an additional 2,343 shares in the last quarter. Finally, Norden Group LLC increased its stake in MediaAlpha by 32.8% in the first quarter. Norden Group LLC now owns 18,750 shares of the company’s stock valued at $382,000 after acquiring an additional 4,633 shares during the last quarter. 64.39% of the stock is owned by institutional investors.

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.