Brokerages Set MediaAlpha, Inc. (NYSE:MAX) Price Target at $25.14

MediaAlpha, Inc. (NYSE:MAX) has been assigned an average rating of “Moderate Buy” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $25.14.

Separately, The Goldman Sachs Group lifted their target price on MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, November 1st.

Insider Activity at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the sale, the insider now directly owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. The trade was a 4.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 11.53% of the stock is owned by insiders.

Institutional Investors Weigh In On MediaAlpha

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of MediaAlpha by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock worth $43,168,000 after buying an additional 276,641 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of MediaAlpha in the first quarter valued at approximately $165,000. Price T Rowe Associates Inc. MD increased its stake in shares of MediaAlpha by 9.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock worth $292,000 after purchasing an additional 1,235 shares in the last quarter. Janus Henderson Group PLC purchased a new position in shares of MediaAlpha during the 1st quarter worth approximately $284,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of MediaAlpha by 5.1% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,890 shares of the company’s stock worth $315,000 after purchasing an additional 1,150 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

MediaAlpha Stock Down 2.0 %

NYSE:MAX opened at $12.63 on Wednesday. The company has a market capitalization of $841.97 million, a PE ratio of 74.29 and a beta of 1.23. MediaAlpha has a 52-week low of $9.76 and a 52-week high of $25.78. The stock’s 50 day moving average price is $16.09 and its 200 day moving average price is $16.16.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The business had revenue of $259.13 million for the quarter, compared to analysts’ expectations of $246.96 million. As a group, sell-side analysts anticipate that MediaAlpha will post 0.42 EPS for the current fiscal year.

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.