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

MediaAlpha (NYSE:MAX) had its target price decreased by Keefe, Bruyette & Woods from $26.00 to $22.00 in a report released on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

Other analysts have also recently issued research reports about the company. Royal Bank of Canada reduced their price objective on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, December 4th. The Goldman Sachs Group lifted their price target on MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.14.

MediaAlpha Price Performance

NYSE MAX opened at $10.74 on Wednesday. The firm has a market capitalization of $715.97 million, a price-to-earnings ratio of 63.18 and a beta of 1.10. The company has a 50 day simple moving average of $14.78 and a 200-day simple moving average of $15.71. MediaAlpha has a 52-week low of $10.21 and a 52-week high of $25.78.

MediaAlpha (NYSE:MAX) last released 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 company had revenue of $259.13 million during the quarter, compared to the consensus estimate of $246.96 million. On average, analysts predict that MediaAlpha will post 0.42 EPS for the current year.

Insiders Place Their Bets

In related news, insider Eugene Nonko sold 72,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total value of $1,488,240.00. Following the transaction, the insider now directly owns 1,550,990 shares of the company’s stock, valued at approximately $32,058,963.30. This trade represents a 4.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 11.53% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MAX. Quarry LP boosted its holdings in shares of MediaAlpha by 157.8% during the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after buying an additional 1,726 shares during the period. Point72 DIFC Ltd acquired a new position in MediaAlpha during the 2nd quarter worth $65,000. Sandia Investment Management LP acquired a new position in MediaAlpha during the 2nd quarter worth $79,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in MediaAlpha by 354.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock valued at $114,000 after acquiring an additional 6,728 shares during the period. Finally, nVerses Capital LLC acquired a new stake in shares of MediaAlpha in the third quarter valued at about $116,000. Institutional investors and hedge funds 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.