MediaAlpha (NYSE:MAX) PT Raised to $30.00

MediaAlpha (NYSE:MAX) had its price objective increased by JPMorgan Chase & Co. from $18.00 to $30.00 in a report released on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts also recently weighed in on MAX. TD Cowen assumed 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 increased their price target on shares of MediaAlpha from $12.00 to $18.00 and gave the company an outperform rating in a research note on Wednesday, February 21st. BMO Capital Markets upgraded shares of MediaAlpha from a market perform rating to an outperform rating and raised their target price for the stock from $9.00 to $28.00 in a research note on Monday, February 26th. Finally, Canaccord Genuity Group boosted their price target on MediaAlpha from $18.00 to $22.00 and gave the company a buy rating in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, MediaAlpha currently has a consensus rating of Moderate Buy and a consensus target price of $21.50.

MediaAlpha Trading Down 0.5 %

NYSE:MAX traded down $0.12 during mid-day trading on Thursday, hitting $22.08. The company had a trading volume of 210,711 shares, compared to its average volume of 317,700. The business’s fifty day moving average is $19.89 and its two-hundred day moving average is $14.40. MediaAlpha has a fifty-two week low of $5.33 and a fifty-two week high of $25.78.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, May 1st. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.09. The firm had revenue of $126.60 million during the quarter, compared to the consensus estimate of $111.17 million. During the same period in the previous year, the company posted ($0.23) EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities analysts expect that MediaAlpha will post -0.28 earnings per share for the current year.

Insider Activity 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 completion of the transaction, the insider now directly owns 50,000 shares in the company, valued at $992,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 11.53% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its stake in 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 acquiring an additional 2,343 shares in the last quarter. Alliance Wealth Advisors LLC UT purchased a new position in MediaAlpha during the 3rd quarter worth $84,000. Allspring Global Investments Holdings LLC raised its holdings in shares of MediaAlpha by 305.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 16,404 shares of the company’s stock valued at $135,000 after purchasing an additional 12,355 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its position in shares of 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 purchasing an additional 1,660 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in MediaAlpha in the 3rd quarter valued at about $162,000. Institutional investors and hedge funds own 64.39% of the company’s stock.

About MediaAlpha

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.