Brokerages Set MediaAlpha, Inc. (NYSE:MAX) Target Price at $22.43

MediaAlpha, Inc. (NYSE:MAX) has received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the company, MarketBeat reports. One equities research analyst has 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 1-year price objective among brokers that have issued a report on the stock in the last year is $22.43.

Several equities analysts recently commented on MAX shares. Canaccord Genuity Group increased their price objective on shares of MediaAlpha from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $25.00 price objective (up from $19.00) on shares of MediaAlpha in a research report on Wednesday, May 15th. TD Cowen lowered shares of MediaAlpha from a “buy” rating to a “hold” rating and reduced their price target for the stock from $19.00 to $13.00 in a research report on Wednesday, June 26th. Royal Bank of Canada raised their price target on shares of MediaAlpha from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of MediaAlpha from $18.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd.

MediaAlpha Stock Performance

NYSE:MAX opened at $12.69 on Friday. MediaAlpha has a fifty-two week low of $7.62 and a fifty-two week high of $25.78. The stock has a market capitalization of $835.51 million, a P/E ratio of -18.66 and a beta of 1.21. The company’s 50-day simple moving average is $17.91 and its 200-day simple moving average is $16.66.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.09. The company had revenue of $126.60 million during the quarter, compared to analysts’ expectations of $111.17 million. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.23) earnings per share. On average, research analysts forecast that MediaAlpha will post -0.09 EPS for the current year.

Insider Activity at MediaAlpha

In related news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of MediaAlpha stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $19.00, for a total value of $95,003,800.00. Following the sale, the insider now owns 17,856,614 shares of the company’s stock, valued at approximately $339,275,666. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other MediaAlpha news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of MediaAlpha stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $19.00, for a total transaction of $95,003,800.00. Following the sale, the insider now owns 17,856,614 shares of the company’s stock, valued at approximately $339,275,666. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of MediaAlpha stock in a transaction on Friday, May 10th. The stock was sold at an average price of $19.00, for a total transaction of $49,206,200.00. The disclosure for this sale can be found here. 11.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MAX. Price T Rowe Associates Inc. MD raised its holdings in MediaAlpha by 9.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock valued at $292,000 after buying an additional 1,235 shares during the period. Portside Wealth Group LLC raised its holdings in MediaAlpha by 9.1% in the 4th quarter. Portside Wealth Group LLC now owns 18,755 shares of the company’s stock valued at $209,000 after buying an additional 1,567 shares during the period. Baker Tilly Wealth Management LLC grew its position in MediaAlpha by 13.7% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock valued at $154,000 after acquiring an additional 1,660 shares in the last quarter. Silvercrest Asset Management Group LLC grew its position in MediaAlpha by 0.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 375,509 shares of the company’s stock valued at $7,649,000 after acquiring an additional 1,667 shares in the last quarter. Finally, Swiss National Bank grew its position in MediaAlpha by 4.6% in the 3rd quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $375,000 after acquiring an additional 2,000 shares in the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.