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

MediaAlpha, Inc. (NYSE:MAX) has been assigned a consensus rating of “Hold” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $17.25.

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods increased their target price on shares of MediaAlpha from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Weiss Ratings reissued a “sell (d)” rating on shares of MediaAlpha in a report on Monday, December 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 target price on shares of MediaAlpha in a research report on Thursday, October 30th. JPMorgan Chase & Co. upped their price target on MediaAlpha from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Finally, The Goldman Sachs Group set a $13.50 price target on MediaAlpha in a research note on Friday, October 31st.

Insider Transactions at MediaAlpha

In related news, CRO Keith Cramer sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $12.83, for a total transaction of $128,300.00. Following the sale, the executive directly owned 187,169 shares in the company, valued at approximately $2,401,378.27. This represents a 5.07% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven Yi sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $13.37, for a total transaction of $106,960.00. Following the completion of the transaction, the insider directly owned 2,927,330 shares of the company’s stock, valued at approximately $39,138,402.10. This trade represents a 0.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 515,100 shares of company stock worth $6,060,195 over the last quarter. Corporate insiders own 13.44% of the company’s stock.

Institutional Trading of MediaAlpha

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its stake in MediaAlpha by 680.9% in the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock worth $16,268,000 after purchasing an additional 1,246,493 shares during the period. Victory Capital Management Inc. boosted its position in shares of MediaAlpha by 1,261.9% in the third quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock valued at $8,089,000 after acquiring an additional 658,625 shares during the period. JPMorgan Chase & Co. boosted its holdings in MediaAlpha by 95.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company’s stock valued at $12,045,000 after purchasing an additional 516,195 shares during the period. Lazard Asset Management LLC purchased a new position in shares of MediaAlpha during the 2nd quarter valued at $4,268,000. Finally, Lighthouse Investment Partners LLC increased its holdings in shares of MediaAlpha by 831.7% in the third quarter. Lighthouse Investment Partners LLC now owns 353,930 shares of the company’s stock worth $4,028,000 after purchasing an additional 315,943 shares during the period. 64.39% of the stock is currently owned by institutional investors.

MediaAlpha Stock Performance

Shares of NYSE:MAX opened at $7.66 on Friday. MediaAlpha has a fifty-two week low of $7.09 and a fifty-two week high of $13.92. The company’s 50-day moving average is $10.88 and its 200 day moving average is $11.45. The company has a market capitalization of $499.20 million, a P/E ratio of -255.25 and a beta of 1.29.

About MediaAlpha

MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company’s platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.

The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.