MediaAlpha, Inc. (NYSE:MAX) Receives $18.20 Consensus Target Price from Analysts

MediaAlpha, Inc. (NYSE:MAX) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $18.20.

MAX has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective on shares of MediaAlpha from $12.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. BMO Capital Markets raised shares of MediaAlpha from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $9.00 to $28.00 in a research report on Monday, February 26th. TD Cowen initiated coverage on shares of MediaAlpha in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $15.00 price target for the company. Finally, Canaccord Genuity Group increased their price target on shares of MediaAlpha from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st.

Insider Transactions at MediaAlpha

In related news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.85, for a total value of $58,557,500.00. Following the transaction, the insider now owns 50,000 shares in the company, valued at $992,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 9.64% of the stock is owned by insiders.

Hedge Funds Weigh In On MediaAlpha

A number of hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its holdings in MediaAlpha by 5.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,086 shares of the company’s stock worth $146,000 after buying an additional 715 shares during the last quarter. Nuveen Asset Management LLC increased its holdings in MediaAlpha by 1.6% in the third quarter. Nuveen Asset Management LLC now owns 65,251 shares of the company’s stock worth $571,000 after buying an additional 1,031 shares during the last quarter. State Street Corp increased its holdings in MediaAlpha by 0.3% in the first quarter. State Street Corp now owns 415,161 shares of the company’s stock worth $6,871,000 after buying an additional 1,127 shares during the last quarter. Legal & General Group Plc grew its holdings in MediaAlpha by 15.1% during the fourth quarter. Legal & General Group Plc now owns 9,295 shares of the company’s stock valued at $92,000 after purchasing an additional 1,220 shares during the last quarter. Finally, Portside Wealth Group LLC grew its holdings in MediaAlpha by 9.1% during the fourth quarter. Portside Wealth Group LLC now owns 18,755 shares of the company’s stock valued at $209,000 after purchasing an additional 1,567 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

MediaAlpha Trading Up 1.9 %

MAX stock opened at $20.37 on Friday. MediaAlpha has a one year low of $5.08 and a one year high of $22.81. The firm has a market capitalization of $1.33 billion, a PE ratio of -22.89 and a beta of 1.36. The firm has a 50-day moving average of $17.18 and a two-hundred day moving average of $12.35.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.16. The firm had revenue of $117.17 million for the quarter, compared to analysts’ expectations of $111.36 million. On average, equities research analysts anticipate that MediaAlpha will post -0.4 earnings per share for the current year.

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.