Analysts Set MediaAlpha, Inc. (NYSE:MAX) Target Price at $21.57

Shares of MediaAlpha, Inc. (NYSE:MAX) have earned an average rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $21.57.

A number of research firms recently commented on MAX. Royal Bank of Canada reduced their target price on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods decreased their price objective on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. The Goldman Sachs Group cut their target price on MediaAlpha from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th.

Insider Transactions at MediaAlpha

In other news, insider Eugene Nonko sold 72,000 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the completion of the sale, the insider now directly owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. This represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MAX. Bank of New York Mellon Corp boosted its holdings in MediaAlpha by 15.8% in the second quarter. Bank of New York Mellon Corp now owns 84,155 shares of the company’s stock valued at $1,108,000 after acquiring an additional 11,503 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of MediaAlpha by 7.3% during the 2nd quarter. Rhumbline Advisers now owns 36,751 shares of the company’s stock valued at $484,000 after purchasing an additional 2,511 shares in the last quarter. Victory Capital Management Inc. bought a new stake in shares of MediaAlpha during the 2nd quarter valued at about $477,000. Federated Hermes Inc. raised its stake in MediaAlpha by 29.0% in the second quarter. Federated Hermes Inc. now owns 121,566 shares of the company’s stock worth $1,601,000 after buying an additional 27,306 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in MediaAlpha by 19.1% in the second quarter. Renaissance Technologies LLC now owns 470,000 shares of the company’s stock worth $6,190,000 after buying an additional 75,400 shares in the last quarter. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Trading Down 1.1 %

Shares of NYSE MAX opened at $11.16 on Thursday. The business has a 50-day moving average of $11.64 and a 200-day moving average of $14.81. The firm has a market capitalization of $743.86 million, a price-to-earnings ratio of 65.64 and a beta of 1.12. MediaAlpha has a 12 month low of $10.21 and a 12 month high of $25.78.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $259.13 million during the quarter, compared to analysts’ expectations of $246.96 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. On average, analysts predict that MediaAlpha will post 0.48 earnings per share for the current year.

MediaAlpha Company Profile

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.