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

Shares of MediaAlpha, Inc. (NYSE:MAX) have been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $18.20.

Several research firms recently commented on MAX. TD Cowen began coverage on MediaAlpha in a report on Wednesday, January 10th. They issued an “outperform” rating and a $15.00 price objective for the company. Canaccord Genuity Group boosted their price target on MediaAlpha from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. BMO Capital Markets upgraded MediaAlpha from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $9.00 to $28.00 in a research note on Monday, February 26th. Finally, Royal Bank of Canada boosted their price target on MediaAlpha from $12.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st.

Insider Buying and Selling at MediaAlpha

In other news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of MediaAlpha stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $19.85, for a total transaction of $58,557,500.00. Following the transaction, the insider now directly owns 50,000 shares of the company’s stock, valued at approximately $992,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Norden Group LLC lifted its position in shares of MediaAlpha by 1,767.2% during the 1st quarter. Norden Group LLC now owns 263,592 shares of the company’s stock valued at $5,369,000 after buying an additional 249,475 shares in the last quarter. Triad Investment Management lifted its position in shares of MediaAlpha by 428.7% during the 3rd quarter. Triad Investment Management now owns 171,343 shares of the company’s stock valued at $1,415,000 after buying an additional 138,937 shares in the last quarter. Nomura Holdings Inc. purchased a new position in MediaAlpha in the 4th quarter worth approximately $1,364,000. Mariner LLC lifted its holdings in MediaAlpha by 449.2% in the 3rd quarter. Mariner LLC now owns 76,060 shares of the company’s stock worth $628,000 after purchasing an additional 62,210 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in MediaAlpha by 4.6% in the 3rd quarter. Swiss National Bank now owns 45,400 shares of the company’s stock worth $375,000 after purchasing an additional 2,000 shares in the last quarter. 64.39% of the stock is owned by hedge funds and other institutional investors.

MediaAlpha Stock Performance

NYSE MAX opened at $19.10 on Tuesday. MediaAlpha has a one year low of $5.08 and a one year high of $22.81. The stock has a 50-day moving average of $19.37 and a 200 day moving average of $13.73. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -21.46 and a beta of 1.35.

MediaAlpha (NYSE:MAX) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.16. The business had revenue of $117.17 million during the quarter, compared to the consensus estimate of $111.36 million. On average, equities analysts predict that MediaAlpha will post -0.4 earnings per share for the current fiscal 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.