MediaAlpha, Inc. (NYSE:MAX) Receives Average Recommendation of “Moderate Buy” from Analysts

MediaAlpha, Inc. (NYSE:MAX) has earned an average rating of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $25.14.

Several research analysts have recently commented on MAX shares. The Goldman Sachs Group increased their price target on shares of MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $26.00 target price (up from $25.00) on shares of MediaAlpha in a research report on Thursday, August 1st.

MediaAlpha Stock Down 1.9 %

Shares of NYSE:MAX opened at $12.73 on Wednesday. The firm has a fifty day moving average of $16.38 and a two-hundred day moving average of $16.29. MediaAlpha has a 12-month low of $9.69 and a 12-month high of $25.78. The firm has a market capitalization of $848.58 million, a P/E ratio of 74.88 and a beta of 1.23.

MediaAlpha (NYSE:MAX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $259.13 million during the quarter, compared to analysts’ expectations of $246.96 million. Equities research analysts expect that MediaAlpha will post 0.42 earnings per share for the current fiscal year.

Insider Activity at MediaAlpha

In other news, insider Eugene Nonko sold 72,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 1,550,990 shares in the company, valued at $32,058,963.30. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP increased its position in shares of MediaAlpha by 157.8% during the third quarter. Quarry LP now owns 2,820 shares of the company’s stock valued at $51,000 after purchasing an additional 1,726 shares during the period. Point72 DIFC Ltd bought a new stake in MediaAlpha in the 2nd quarter valued at $65,000. Sandia Investment Management LP acquired a new position in shares of MediaAlpha in the 2nd quarter valued at $79,000. nVerses Capital LLC bought a new position in shares of MediaAlpha during the 3rd quarter worth about $116,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of MediaAlpha during the 1st quarter valued at about $165,000. Institutional investors 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.