MediaAlpha, Inc. (NYSE:MAX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

MediaAlpha, Inc. (NYSE:MAX) has been assigned an average recommendation of “Moderate Buy” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $21.57.

A number of equities research analysts have recently commented on MAX shares. JPMorgan Chase & Co. cut their target price on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Keefe, Bruyette & Woods reduced their target price on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. The Goldman Sachs Group reduced their target price on shares of MediaAlpha from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Royal Bank of Canada reduced their price target on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th.

MediaAlpha Stock Performance

Shares of NYSE:MAX opened at $11.24 on Thursday. The firm’s 50 day simple moving average is $11.68 and its 200-day simple moving average is $14.84. MediaAlpha has a one year low of $10.21 and a one year high of $25.78. The firm has a market cap of $749.30 million, a PE ratio of 66.12 and a beta of 1.12.

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

Insider Activity

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of MediaAlpha stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total value of $1,488,240.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 11.53% of the company’s stock.

Institutional Trading of MediaAlpha

A number of hedge funds have recently added to or reduced their stakes in MAX. Driehaus Capital Management LLC boosted its position in shares of MediaAlpha by 208.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock worth $18,920,000 after purchasing an additional 970,840 shares in the last quarter. Clearline Capital LP grew its position in shares of MediaAlpha by 115.3% in the third quarter. Clearline Capital LP now owns 1,241,419 shares of the company’s stock valued at $22,482,000 after purchasing an additional 664,691 shares during the period. Geode Capital Management LLC boosted its stake in MediaAlpha by 28.9% in the 3rd quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock worth $12,509,000 after buying an additional 154,637 shares during the last quarter. Divisadero Street Capital Management LP acquired a new position in shares of MediaAlpha during the 2nd quarter valued at about $7,956,000. Finally, State Street Corp increased its position in MediaAlpha by 7.0% during the third quarter. State Street Corp now owns 547,906 shares of the company’s stock worth $9,923,000 after purchasing an additional 35,960 shares during the last quarter. 64.39% of the stock is owned by institutional investors and hedge funds.

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.