MediaAlpha (NYSE:MAX) Price Target Raised to $30.00

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

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

MediaAlpha Trading Up 0.5 %

Shares of MAX stock opened at $22.20 on Thursday. MediaAlpha has a 1 year low of $5.08 and a 1 year high of $25.78. The stock has a fifty day moving average of $19.89 and a two-hundred day moving average of $14.34.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09. The business had revenue of $126.60 million for the quarter, compared to analyst estimates of $111.17 million. During the same quarter last year, the firm posted ($0.23) EPS. The company’s revenue was up 13.4% compared to the same quarter last year. As a group, research analysts predict that MediaAlpha will post -0.28 earnings per share for the current year.

Insider Transactions at MediaAlpha

In other 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 transaction of $58,557,500.00. Following the sale, the insider now directly owns 50,000 shares of the company’s stock, valued at $992,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.53% of the stock is owned by insiders.

Institutional Investors Weigh In On MediaAlpha

A number of institutional investors and hedge funds have recently modified their holdings of MAX. Tower Research Capital LLC TRC raised its position in shares of MediaAlpha by 111.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock worth $50,000 after purchasing an additional 2,343 shares during the period. Alliance Wealth Advisors LLC UT acquired a new position in MediaAlpha during the third quarter valued at $84,000. Allspring Global Investments Holdings LLC raised its position in MediaAlpha by 305.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 16,404 shares of the company’s stock valued at $135,000 after buying an additional 12,355 shares during the period. Baker Tilly Wealth Management LLC raised its position in MediaAlpha by 13.7% during the fourth 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 during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in MediaAlpha during the third quarter valued at $162,000. 64.39% of the stock is owned by institutional investors and hedge funds.

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.