Brokerages Set MediaAlpha, Inc. (NYSE:MAX) PT at $18.20

Shares of MediaAlpha, Inc. (NYSE:MAX) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $18.20.

Several analysts have commented on the stock. Canaccord Genuity Group raised their price objective on shares of MediaAlpha from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. BMO Capital Markets upgraded shares of MediaAlpha from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $9.00 to $28.00 in a report on Monday, February 26th. TD Cowen started coverage on shares of MediaAlpha in a report on Wednesday, January 10th. They issued an “outperform” rating and a $15.00 price objective for the company. Finally, Royal Bank of Canada raised their target price on shares of MediaAlpha from $12.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st.

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $19.85, for a total transaction of $58,557,500.00. Following the completion of the transaction, the insider now owns 50,000 shares of the company’s stock, valued at $992,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.53% of the company’s stock.

Institutional Investors Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently made changes to their positions in MAX. BNP Paribas Arbitrage SNC bought a new stake in shares of MediaAlpha during the third quarter valued at approximately $37,000. Tower Research Capital LLC TRC increased its position in shares of MediaAlpha by 111.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock valued at $50,000 after acquiring an additional 2,343 shares in the last quarter. Barclays PLC increased its position in shares of MediaAlpha by 548.1% during the fourth quarter. Barclays PLC now owns 6,617 shares of the company’s stock valued at $66,000 after acquiring an additional 5,596 shares in the last quarter. Legal & General Group Plc increased its position in shares of MediaAlpha by 28.2% during the second quarter. Legal & General Group Plc now owns 7,491 shares of the company’s stock valued at $74,000 after acquiring an additional 1,646 shares in the last quarter. Finally, State of Wyoming increased its position in shares of MediaAlpha by 275.9% during the fourth quarter. State of Wyoming now owns 7,793 shares of the company’s stock valued at $78,000 after acquiring an additional 5,720 shares in the last quarter. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Price Performance

Shares of MAX opened at $18.55 on Tuesday. MediaAlpha has a one year low of $5.08 and a one year high of $22.81. The company has a 50-day simple moving average of $19.18 and a two-hundred day simple moving average of $13.50. The firm has a market capitalization of $1.22 billion, a PE ratio of -20.84 and a beta of 1.35.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.16. The company had revenue of $117.17 million during the quarter, compared to analysts’ expectations of $111.36 million. Analysts expect that MediaAlpha will post -0.4 EPS for the current fiscal year.

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.