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

MediaAlpha, Inc. (NYSE:MAX) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $21.57.

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

MediaAlpha Stock Down 4.9 %

NYSE MAX opened at $10.67 on Thursday. The stock’s 50 day moving average is $11.55 and its 200 day moving average is $14.77. The firm has a market capitalization of $711.13 million, a PE ratio of 62.75 and a beta of 1.12. MediaAlpha has a twelve month low of $10.21 and a twelve month high of $25.78.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $259.13 million for 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, research analysts anticipate that MediaAlpha will post 0.48 earnings per share for the current year.

Insider Buying and Selling

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total value of $1,488,240.00. Following the transaction, the insider now owns 1,550,990 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.53% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MediaAlpha

Several hedge funds and other institutional investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company grew its position in MediaAlpha by 11.9% during the third quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock valued at $206,000 after buying an additional 1,213 shares during the period. Hsbc Holdings PLC grew its position in shares of MediaAlpha by 7.1% during the 2nd quarter. Hsbc Holdings PLC now owns 23,791 shares of the company’s stock valued at $312,000 after acquiring an additional 1,582 shares during the period. Quarry LP increased its stake in shares of MediaAlpha by 157.8% in the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after purchasing an additional 1,726 shares in the last quarter. Rhumbline Advisers increased its stake in shares of MediaAlpha by 7.3% in the 2nd quarter. Rhumbline Advisers now owns 36,751 shares of the company’s stock worth $484,000 after purchasing an additional 2,511 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in MediaAlpha by 28.8% in the 3rd quarter. MetLife Investment Management LLC now owns 17,446 shares of the company’s stock worth $316,000 after purchasing an additional 3,906 shares during the period. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.