MediaAlpha, Inc. (NYSE:MAX) Receives $24.29 Consensus PT from Analysts

Shares of MediaAlpha, Inc. (NYSE:MAX) have earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $24.29.

A number of equities analysts recently commented on MAX shares. 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 note on Wednesday, June 26th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $26.00 price objective (up previously from $25.00) on shares of MediaAlpha in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group started coverage on shares of MediaAlpha in a research report on Tuesday, August 20th. They issued a “buy” rating and a $20.00 price objective on the stock.

Institutional Trading of MediaAlpha

Several institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new position in MediaAlpha in the 1st quarter valued at $1,118,000. Norden Group LLC grew its stake in shares of MediaAlpha by 1,767.2% during the 1st quarter. Norden Group LLC now owns 263,592 shares of the company’s stock worth $5,369,000 after purchasing an additional 249,475 shares during the period. Nomura Holdings Inc. acquired a new position in shares of MediaAlpha during the 4th quarter worth $1,364,000. Vanguard Group Inc. grew 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 purchasing an additional 276,641 shares during the period. Finally, TimesSquare Capital Management LLC acquired a new position in shares of MediaAlpha during the 1st quarter worth $22,181,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

MediaAlpha Price Performance

Shares of MAX stock opened at $18.26 on Tuesday. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -26.85 and a beta of 1.22. MediaAlpha has a one year low of $8.51 and a one year high of $25.78. The company’s fifty day moving average price is $17.23 and its 200-day moving average price is $17.26.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $178.27 million during the quarter, compared to analysts’ expectations of $151.40 million. The business’s quarterly revenue was up 110.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.32) earnings per share. Equities research analysts expect that MediaAlpha will post 0.35 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.