MediaAlpha, Inc. (NYSE:MAX) Receives $24.14 Consensus PT from Brokerages

Shares of MediaAlpha, Inc. (NYSE:MAX) have been given an average rating of “Moderate Buy” by the seven analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $24.14.

Several equities research analysts have recently issued reports on the stock. 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 research report on Wednesday, December 4th. Keefe, Bruyette & Woods lowered their price target on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Finally, The Goldman Sachs Group boosted their price objective on MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 1st.

Insiders Place Their Bets

In related 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.53% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in shares of MediaAlpha by 15.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 84,155 shares of the company’s stock worth $1,108,000 after acquiring an additional 11,503 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in MediaAlpha by 354.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock worth $114,000 after purchasing an additional 6,728 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in MediaAlpha during the second quarter valued at $225,000. Rhumbline Advisers raised its holdings in shares of MediaAlpha by 7.3% during the second quarter. Rhumbline Advisers now owns 36,751 shares of the company’s stock worth $484,000 after purchasing an additional 2,511 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of MediaAlpha in the 2nd quarter worth about $477,000. 64.39% of the stock is owned by institutional investors and hedge funds.

MediaAlpha Price Performance

Shares of NYSE:MAX opened at $10.86 on Friday. The business has a 50-day moving average of $13.98 and a two-hundred day moving average of $15.38. The firm has a market capitalization of $723.97 million, a PE ratio of 63.88 and a beta of 1.10. MediaAlpha has a 12 month low of $10.21 and a 12 month high of $25.78.

MediaAlpha (NYSE:MAX) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The firm had revenue of $259.13 million during the quarter, compared to the consensus estimate of $246.96 million. As a group, research analysts anticipate that MediaAlpha will post 0.42 earnings per share for the current 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.