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

Shares of MediaAlpha, Inc. (NYSE:MAX) have received an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $21.57.

MAX has been the topic of a number of research reports. Keefe, Bruyette & Woods dropped their target price on shares of MediaAlpha from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. The Goldman Sachs Group reduced their price objective on MediaAlpha from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday. Royal Bank of Canada decreased their target price 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. Finally, JPMorgan Chase & Co. decreased their price target on MediaAlpha from $25.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, January 10th.

MediaAlpha Stock Performance

MediaAlpha stock opened at $11.24 on Thursday. The stock’s 50 day moving average price is $11.68 and its 200 day moving average price is $14.84. MediaAlpha has a one year low of $10.21 and a one year high of $25.78. The firm has a market capitalization of $749.30 million, a PE ratio of 66.12 and a beta of 1.12.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. The company had revenue of $259.13 million for the quarter, compared to the consensus estimate of $246.96 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. On average, analysts forecast that MediaAlpha will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Eugene Nonko sold 72,000 shares of the business’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 completion of the sale, the insider now directly owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.53% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On MediaAlpha

Several hedge funds and other institutional investors have recently made changes to their positions in MAX. Bank of New York Mellon Corp lifted 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 during the period. Rhumbline Advisers grew its holdings in shares of MediaAlpha by 7.3% in the 2nd 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 last quarter. Victory Capital Management Inc. bought a new stake in MediaAlpha during the second quarter worth about $477,000. Federated Hermes Inc. grew its position in MediaAlpha by 29.0% during the 2nd quarter. Federated Hermes Inc. now owns 121,566 shares of the company’s stock worth $1,601,000 after acquiring an additional 27,306 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of MediaAlpha by 19.1% in the second quarter. Renaissance Technologies LLC now owns 470,000 shares of the company’s stock valued at $6,190,000 after buying an additional 75,400 shares in the last quarter. 64.39% of the stock is owned by institutional investors and hedge funds.

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.