MediaAlpha (NYSE:MAX) Reaches New 12-Month High – What’s Next?

MediaAlpha, Inc. (NYSE:MAX) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $14.02 and last traded at $13.8250, with a volume of 216790 shares. The stock had previously closed at $13.43.

Analyst Ratings Changes

MAX has been the subject of several analyst reports. Capital One Financial set a $11.00 target price on MediaAlpha in a report on Tuesday, June 9th. Zacks Research downgraded MediaAlpha from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. TD Cowen dropped their price target on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. boosted their price objective on shares of MediaAlpha from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Finally, Keefe, Bruyette & Woods lowered their target price on shares of MediaAlpha from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, MediaAlpha has an average rating of “Moderate Buy” and a consensus target price of $12.36.

MediaAlpha Stock Performance

The stock has a market cap of $841.41 million, a P/E ratio of 21.03 and a beta of 1.08. The firm has a 50 day moving average of $9.82 and a two-hundred day moving average of $10.03.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). MediaAlpha had a negative return on equity of 147.82% and a net margin of 3.37%.The business had revenue of $310.00 million during the quarter, compared to the consensus estimate of $298.91 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The business’s quarterly revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts anticipate that MediaAlpha, Inc. will post 0.97 EPS for the current fiscal year.

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, insider Steven Yi sold 96,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $12.90, for a total value of $1,238,400.00. Following the sale, the insider directly owned 2,759,690 shares in the company, valued at $35,600,001. This trade represents a 3.36% decrease in their position. The transaction 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, Director Eugene Nonko sold 49,844 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $10.04, for a total transaction of $500,433.76. Following the transaction, the director owned 1,329,099 shares in the company, valued at approximately $13,344,153.96. The trade was a 3.61% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last quarter, insiders have sold 626,396 shares of company stock valued at $6,533,382. Corporate insiders own 14.65% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

Several large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its position in shares of MediaAlpha by 5,900.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock worth $28,000 after acquiring an additional 2,124 shares during the period. Rockefeller Capital Management L.P. raised its stake in shares of MediaAlpha by 9,917.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock valued at $36,000 after purchasing an additional 2,777 shares in the last quarter. Quarry LP lifted its position in MediaAlpha by 43.3% in the third quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after purchasing an additional 1,234 shares during the period. Strs Ohio bought a new position in MediaAlpha in the fourth quarter worth $49,000. Finally, Tower Research Capital LLC TRC boosted its stake in MediaAlpha by 28.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock worth $61,000 after buying an additional 1,213 shares in the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

MediaAlpha Company Profile

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.