MediaAlpha (NYSE:MAX) Lowered to Hold at TD Cowen

TD Cowen lowered shares of MediaAlpha (NYSE:MAX) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports. TD Cowen currently has $13.00 price target on the stock, down from their previous price target of $19.00.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised their price target on shares of MediaAlpha from $18.00 to $30.00 and gave the stock an overweight rating in a research note on Thursday, May 2nd. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $25.00 price target (up previously from $19.00) on shares of MediaAlpha in a research report on Wednesday, May 15th. Royal Bank of Canada lifted their price objective on MediaAlpha from $18.00 to $23.00 and gave the stock an outperform rating in a report on Tuesday, May 28th. Finally, Canaccord Genuity Group increased their target price on shares of MediaAlpha from $25.00 to $30.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, MediaAlpha currently has a consensus rating of Moderate Buy and a consensus target price of $22.43.

MediaAlpha Price Performance

Shares of MAX stock opened at $13.17 on Wednesday. The firm has a 50-day moving average of $18.16 and a 200-day moving average of $16.59. MediaAlpha has a one year low of $7.62 and a one year high of $25.78. The company has a market cap of $867.11 million, a P/E ratio of -19.37 and a beta of 1.26.

MediaAlpha (NYSE:MAX) last released its earnings results on Wednesday, May 1st. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.09. The business had revenue of $126.60 million during the quarter, compared to the consensus estimate of $111.17 million. During the same period in the prior year, the company earned ($0.23) earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. As a group, research analysts expect that MediaAlpha will post -0.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the business’s 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 this hyperlink. In related news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the business’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $19.00, for a total value of $95,003,800.00. Following the completion of the sale, the insider now owns 17,856,614 shares in the company, valued at approximately $339,275,666. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $19.00, for a total transaction of $49,206,200.00. The disclosure for this sale can be found here. 11.53% of the stock is owned by company insiders.

Hedge Funds Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently made changes to their positions in the business. Swiss National Bank increased its holdings in shares of MediaAlpha by 4.6% in the third quarter. Swiss National Bank now owns 45,400 shares of the company’s stock worth $375,000 after buying an additional 2,000 shares during the period. Hsbc Holdings PLC purchased a new position in shares of MediaAlpha in the third quarter valued at about $172,000. Mariner LLC boosted its holdings in shares of MediaAlpha by 449.2% during the third quarter. Mariner LLC now owns 76,060 shares of the company’s stock worth $628,000 after purchasing an additional 62,210 shares during the period. Baker Tilly Wealth Management LLC boosted its holdings in shares of MediaAlpha by 13.7% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock worth $154,000 after purchasing an additional 1,660 shares during the period. Finally, Portside Wealth Group LLC raised its position in MediaAlpha by 9.1% during the 4th quarter. Portside Wealth Group LLC now owns 18,755 shares of the company’s stock valued at $209,000 after purchasing an additional 1,567 shares during the last quarter. Institutional investors own 64.39% of the company’s stock.

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.