MediaAlpha, Inc. (NYSE:MAX) Receives $21.50 Consensus Target Price from Brokerages

Shares of MediaAlpha, Inc. (NYSE:MAXGet Free Report) have earned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $21.50.

A number of analysts recently issued reports on the company. BMO Capital Markets raised MediaAlpha from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $9.00 to $28.00 in a research report on Monday, February 26th. Royal Bank of Canada upped their price objective on MediaAlpha from $12.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. raised their target price on shares of MediaAlpha from $18.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Canaccord Genuity Group increased their price target on shares of MediaAlpha from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd.

Check Out Our Latest Report on MAX

MediaAlpha Price Performance

NYSE:MAX opened at $19.45 on Friday. The stock has a market capitalization of $1.28 billion, a PE ratio of -28.60 and a beta of 1.32. The business’s 50-day simple moving average is $19.82 and its 200-day simple moving average is $14.87. MediaAlpha has a fifty-two week low of $5.33 and a fifty-two week high of $25.78.

MediaAlpha (NYSE:MAXGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09. The firm had revenue of $126.60 million for the quarter, compared to analyst estimates of $111.17 million. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company earned ($0.23) EPS. On average, research analysts expect that MediaAlpha will post -0.09 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.85, for a total value of $58,557,500.00. Following the transaction, the insider now directly owns 50,000 shares of the company’s stock, valued at approximately $992,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the business’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $19.00, for a total transaction of $95,003,800.00. Following the completion of the transaction, the insider now owns 17,856,614 shares of the company’s stock, valued at $339,275,666. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the firm’s stock in a transaction 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 sale, the insider now owns 50,000 shares in the company, valued at approximately $992,500. The disclosure for this sale can be found here. Corporate insiders own 11.53% of the company’s stock.

Institutional Trading of MediaAlpha

Several institutional investors have recently added to or reduced their stakes in MAX. Allspring Global Investments Holdings LLC increased its position in MediaAlpha by 305.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 16,404 shares of the company’s stock valued at $135,000 after buying an additional 12,355 shares in the last quarter. Swiss National Bank increased its holdings in shares of MediaAlpha by 4.6% during the third quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $375,000 after acquiring an additional 2,000 shares in the last quarter. Alliance Wealth Advisors LLC UT purchased a new position in shares of MediaAlpha in the 3rd quarter worth about $84,000. Hsbc Holdings PLC bought a new position in MediaAlpha in the 3rd quarter worth about $172,000. Finally, Mariner LLC grew its position in MediaAlpha by 449.2% during the 3rd quarter. Mariner LLC now owns 76,060 shares of the company’s stock valued at $628,000 after purchasing an additional 62,210 shares during the last quarter. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

About MediaAlpha

(Get Free Report

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.

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Analyst Recommendations for MediaAlpha (NYSE:MAX)

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