Keefe, Bruyette & Woods Lowers MediaAlpha (NYSE:MAX) Price Target to $22.00

MediaAlpha (NYSE:MAX) had its price objective cut by Keefe, Bruyette & Woods from $26.00 to $22.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 104.84% from the company’s previous close.

MAX has been the subject of several other reports. The Goldman Sachs Group raised their price target on shares of MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada dropped their price objective on shares of MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.14.

MediaAlpha Stock Down 4.2 %

Shares of MAX stock opened at $10.74 on Wednesday. The company has a 50 day moving average of $14.93 and a 200-day moving average of $15.76. MediaAlpha has a 12-month low of $10.21 and a 12-month high of $25.78. The firm has a market cap of $715.97 million, a P/E ratio of 63.18 and a beta of 1.10.

MediaAlpha (NYSE:MAX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The company had revenue of $259.13 million during the quarter, compared to the consensus estimate of $246.96 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. As a group, equities analysts expect that MediaAlpha will post 0.42 EPS for the current year.

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the business’s stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.53% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

A number of hedge funds have recently modified their holdings of MAX. Driehaus Capital Management LLC increased its position in shares of MediaAlpha by 208.4% during the second quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock valued at $18,920,000 after buying an additional 970,840 shares during the period. Clearline Capital LP increased its position in shares of MediaAlpha by 115.3% during the third quarter. Clearline Capital LP now owns 1,241,419 shares of the company’s stock valued at $22,482,000 after buying an additional 664,691 shares during the period. Geode Capital Management LLC increased its position in shares of MediaAlpha by 28.9% during the third quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock valued at $12,509,000 after buying an additional 154,637 shares during the period. Divisadero Street Capital Management LP purchased a new position in shares of MediaAlpha during the second quarter valued at about $7,956,000. Finally, Emerald Advisers LLC increased its position in shares of MediaAlpha by 51,407.5% during the second quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock valued at $7,882,000 after buying an additional 597,355 shares during the period. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.