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

MediaAlpha, Inc. (NYSE:MAX) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $18.20.

MAX has been the topic of several recent research reports. Canaccord Genuity Group lifted their target price on shares of MediaAlpha from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada lifted their target price on shares of MediaAlpha from $12.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. BMO Capital Markets upgraded shares of MediaAlpha from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $9.00 to $28.00 in a research report on Monday, February 26th. Finally, TD Cowen started coverage on shares of MediaAlpha in a research report on Wednesday, January 10th. They set an “outperform” rating and a $15.00 target price on the stock.

Insiders Place Their Bets

In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.85, for a total value of $58,557,500.00. Following the completion of the transaction, the insider now directly owns 50,000 shares of the company’s stock, valued at $992,500. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 11.53% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SNC acquired a new stake in shares of MediaAlpha during the 3rd quarter worth approximately $37,000. Tower Research Capital LLC TRC grew its position 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 buying an additional 2,343 shares during the period. Barclays PLC grew its position in shares of MediaAlpha by 548.1% during the 4th quarter. Barclays PLC now owns 6,617 shares of the company’s stock worth $66,000 after buying an additional 5,596 shares during the period. Legal & General Group Plc grew its position in shares of MediaAlpha by 28.2% during the 2nd quarter. Legal & General Group Plc now owns 7,491 shares of the company’s stock worth $74,000 after buying an additional 1,646 shares during the period. Finally, State of Wyoming grew its position in shares of MediaAlpha by 275.9% during the 4th quarter. State of Wyoming now owns 7,793 shares of the company’s stock worth $78,000 after buying an additional 5,720 shares during the period. 64.39% of the stock is owned by institutional investors.

MediaAlpha Price Performance

NYSE MAX opened at $19.22 on Tuesday. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -21.60 and a beta of 1.35. The company’s fifty day moving average is $18.84 and its two-hundred day moving average is $13.35. MediaAlpha has a 52-week low of $5.08 and a 52-week high of $22.81.

MediaAlpha (NYSE:MAX) last issued its earnings results on Tuesday, February 20th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.16. The business had revenue of $117.17 million for the quarter, compared to analyst estimates of $111.36 million. As a group, sell-side analysts expect that MediaAlpha will post -0.4 earnings per share for the current fiscal year.

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.