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

Shares of MediaAlpha, Inc. (NYSE:MAX) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $22.43.

A number of research analysts have recently commented on MAX shares. Canaccord Genuity Group upped their price objective on shares of MediaAlpha from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Royal Bank of Canada lifted their price target on shares of MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $25.00 price objective (up from $19.00) on shares of MediaAlpha in a research report on Wednesday, May 15th. JPMorgan Chase & Co. upped their price objective on shares of MediaAlpha from $18.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, TD Cowen downgraded shares of MediaAlpha from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $19.00 to $13.00 in a research report on Wednesday.

Insider Activity at MediaAlpha

In other MediaAlpha news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $19.00, for a total transaction of $95,003,800.00. Following the completion of the transaction, the insider now owns 17,856,614 shares of the company’s stock, valued at $339,275,666. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $19.00, for a total value of $49,206,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $19.00, for a total value of $95,003,800.00. Following the sale, the insider now owns 17,856,614 shares of the company’s stock, valued at $339,275,666. The disclosure for this sale can be found here. 11.53% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MediaAlpha

A number of large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its holdings in shares of MediaAlpha by 111.6% during the 4th 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. EntryPoint Capital LLC bought a new stake in MediaAlpha during the first quarter valued at about $136,000. Baker Tilly Wealth Management LLC raised its stake in shares of MediaAlpha by 13.7% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock worth $154,000 after purchasing an additional 1,660 shares during the last quarter. Lazard Asset Management LLC purchased a new position in MediaAlpha during the first quarter valued at approximately $165,000. Finally, Hsbc Holdings PLC purchased a new position in MediaAlpha during the third quarter valued at approximately $172,000. 64.39% of the stock is currently owned by institutional investors.

MediaAlpha Stock Up 0.9 %

MediaAlpha stock opened at $13.17 on Friday. The company’s fifty day simple moving average is $18.16 and its 200-day simple moving average is $16.59. MediaAlpha has a 12 month low of $7.62 and a 12 month high of $25.78. The stock has a market cap of $867.11 million, a P/E ratio of -19.37 and a beta of 1.26.

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