MediaAlpha, Inc. (NYSE:MAX) Receives $14.29 Consensus Target Price from Analysts

Shares of MediaAlpha, Inc. (NYSE:MAX) have been given an average rating of “Moderate Buy” by the nine brokerages that are covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $14.2857.

MAX has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of MediaAlpha from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, September 1st. Keefe, Bruyette & Woods raised their price target on MediaAlpha from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Texas Capital upgraded MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. JPMorgan Chase & Co. assumed coverage on MediaAlpha in a research note on Monday, August 24th. They issued a “neutral” rating and a $15.00 target price for the company. Finally, Canaccord Genuity Group raised their price objective on shares of MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 30th.

Insider Activity

In related news, Director Eugene Nonko sold 7,273 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $11.62, for a total value of $84,512.26. Following the completion of the sale, the director owned 890,208 shares of the company’s stock, valued at $10,344,216.96. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Kuanling Yeh sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $12.00, for a total transaction of $36,000.00. Following the completion of the transaction, the chief technology officer owned 549,091 shares of the company’s stock, valued at $6,589,092. This trade represents a 0.54% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 653,746 shares of company stock valued at $8,293,514 over the last three months. 14.65% of the stock is owned by insiders.

Institutional Investors Weigh In On MediaAlpha

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its stake in MediaAlpha by 380.9% in the first quarter. Bank of America Corp DE now owns 279,704 shares of the company’s stock valued at $2,601,000 after purchasing an additional 221,540 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of MediaAlpha by 94.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 620,669 shares of the company’s stock valued at $5,773,000 after purchasing an additional 300,871 shares in the last quarter. Jacobs Asset Management LLC lifted its holdings in shares of MediaAlpha by 31.1% during the 1st quarter. Jacobs Asset Management LLC now owns 924,443 shares of the company’s stock valued at $8,597,000 after purchasing an additional 219,144 shares in the last quarter. Principal Financial Group Inc. lifted its stake in MediaAlpha by 288.7% in the first quarter. Principal Financial Group Inc. now owns 137,613 shares of the company’s stock valued at $1,280,000 after buying an additional 102,210 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its holdings in shares of MediaAlpha by 150.9% in the first quarter. Quantinno Capital Management LP now owns 107,274 shares of the company’s stock valued at $998,000 after buying an additional 64,526 shares during the period. 64.39% of the stock is owned by institutional investors and hedge funds.

MediaAlpha Price Performance

MediaAlpha stock opened at $11.73 on Tuesday. The company has a market capitalization of $718.40 million, a PE ratio of 7.24 and a beta of 1.16. MediaAlpha has a one year low of $7.09 and a one year high of $14.70. The business has a 50 day simple moving average of $13.07 and a 200 day simple moving average of $10.82.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.42. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%.The firm had revenue of $316.88 million for the quarter, compared to analysts’ expectations of $300.87 million. Equities analysts anticipate that MediaAlpha will post 1.13 earnings per share for the current fiscal year.

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.