MediaAlpha, Inc. (NYSE:MAX) Receives $24.14 Average Target Price from Analysts

Shares of MediaAlpha, Inc. (NYSE:MAX) have been given a consensus rating of “Moderate Buy” by the seven analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $24.14.

A number of research firms have recently issued reports on MAX. Keefe, Bruyette & Woods lowered their price objective on shares of MediaAlpha from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. The Goldman Sachs Group raised their target price on shares of MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada cut their price target on shares of MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th.

MediaAlpha Trading Up 5.1 %

MAX stock opened at $11.41 on Friday. The stock has a 50-day moving average price of $13.48 and a two-hundred day moving average price of $15.28. MediaAlpha has a 1 year low of $10.21 and a 1 year high of $25.78. The stock has a market cap of $760.64 million, a PE ratio of 67.12 and a beta of 1.10.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The business had revenue of $259.13 million during the quarter, compared to the consensus estimate of $246.96 million. On average, analysts forecast that MediaAlpha will post 0.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Eugene Nonko sold 72,000 shares of MediaAlpha stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the completion of the transaction, the insider now owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 11.53% of the company’s stock.

Institutional Trading of MediaAlpha

Hedge funds have recently made changes to their positions in the business. Quarry LP increased its holdings in shares of MediaAlpha by 157.8% during the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after acquiring an additional 1,726 shares during the last quarter. Point72 DIFC Ltd bought a new position in MediaAlpha during the second quarter worth $65,000. Sandia Investment Management LP acquired a new position in shares of MediaAlpha in the second quarter valued at $79,000. nVerses Capital LLC bought a new position in shares of MediaAlpha in the third quarter valued at about $116,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of MediaAlpha by 354.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock worth $114,000 after buying an additional 6,728 shares during the last quarter. 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.