MediaAlpha (NYSE:MAX) Earns Outperform Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their outperform rating on shares of MediaAlpha (NYSE:MAXFree Report) in a report released on Wednesday, MarketBeat.com reports. They currently have a $25.00 price objective on the stock, up from their previous price objective of $19.00.

A number of other research firms also recently weighed in on MAX. JPMorgan Chase & Co. upped their price target on MediaAlpha from $18.00 to $30.00 and gave the stock an overweight rating in a research note on Thursday, May 2nd. Canaccord Genuity Group increased their target price on MediaAlpha from $25.00 to $30.00 and gave the stock a buy rating in a report on Thursday, May 2nd. Royal Bank of Canada upped their price objective on shares of MediaAlpha from $12.00 to $18.00 and gave the stock an outperform rating in a report on Wednesday, February 21st. Finally, BMO Capital Markets upgraded shares of MediaAlpha from a market perform rating to an outperform rating and lifted their price objective for the company from $9.00 to $28.00 in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $22.00.

Check Out Our Latest Analysis on MAX

MediaAlpha Price Performance

MAX opened at $18.37 on Wednesday. The company’s 50 day moving average price is $19.64 and its two-hundred day moving average price is $15.06. MediaAlpha has a fifty-two week low of $6.10 and a fifty-two week high of $25.78.

MediaAlpha (NYSE:MAXGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09. The company had revenue of $126.60 million for the quarter, compared to the consensus estimate of $111.17 million. During the same quarter last year, the business earned ($0.23) earnings per share. MediaAlpha’s revenue was up 13.4% compared to the same quarter last year. Equities research analysts predict that MediaAlpha will post -0.09 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $19.00, for a total value of $49,206,200.00. The sale was disclosed in a filing with the SEC, which is available through this link. In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of MediaAlpha stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $19.00, for a total transaction of $49,206,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $19.00, for a total value of $95,003,800.00. Following the transaction, the insider now owns 17,856,614 shares in the company, valued at $339,275,666. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,540,000 shares of company stock worth $202,767,500. Corporate insiders own 11.53% of the company’s stock.

Institutional Investors Weigh In On MediaAlpha

Hedge funds and other institutional investors have recently modified their holdings of the stock. TimesSquare Capital Management LLC purchased a new position in shares of MediaAlpha in the first quarter valued at about $22,181,000. Vanguard Group Inc. increased its holdings in MediaAlpha by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock valued at $43,168,000 after purchasing an additional 276,641 shares during the period. Norden Group LLC raised its position in 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 purchasing an additional 249,475 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new stake in MediaAlpha in the 1st quarter worth approximately $4,062,000. Finally, Nomura Holdings Inc. purchased a new stake in MediaAlpha in the 4th quarter worth approximately $1,364,000. Institutional investors own 64.39% of the company’s stock.

About MediaAlpha

(Get Free Report)

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.

Further Reading

Analyst Recommendations for MediaAlpha (NYSE:MAX)

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