MediaAlpha, Inc. (NYSE:MAX) Receives $12.64 Consensus Target Price from Analysts

MediaAlpha, Inc. (NYSE:MAX) has been given an average rating of “Moderate Buy” by the nine brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $12.6429.

Several equities research analysts have recently commented on MAX shares. Keefe, Bruyette & Woods upped their price target on MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Wall Street Zen upgraded shares of MediaAlpha from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Texas Capital raised shares of MediaAlpha to a “strong-buy” rating in a research note on Tuesday, June 9th. Zacks Research downgraded shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Finally, Capital One Financial set a $11.00 target price on shares of MediaAlpha in a research note on Tuesday, June 9th.

MediaAlpha Stock Down 6.3%

NYSE MAX opened at $13.30 on Monday. MediaAlpha has a 52-week low of $7.09 and a 52-week high of $14.70. The business’s 50-day moving average price is $10.84 and its 200 day moving average price is $10.11. The firm has a market cap of $829.07 million, a P/E ratio of 20.78 and a beta of 1.08.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). MediaAlpha had a net margin of 3.37% and a negative return on equity of 147.82%. The company had revenue of $310.00 million for the quarter, compared to analysts’ expectations of $298.91 million. During the same period in the prior year, the company earned ($0.04) earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. As a group, analysts anticipate that MediaAlpha will post 0.97 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Eugene Nonko sold 27,972 shares of the company’s stock in a transaction on Monday, April 27th. The stock was sold at an average price of $10.04, for a total transaction of $280,838.88. Following the transaction, the director owned 987,384 shares of the company’s stock, valued at $9,913,335.36. This represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Steven Yi sold 96,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $12.90, for a total value of $1,238,400.00. Following the completion of the transaction, the insider owned 2,759,690 shares of the company’s stock, valued at $35,600,001. The trade was a 3.36% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 565,015 shares of company stock valued at $6,394,745. Company insiders own 14.65% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its position in shares of MediaAlpha by 5,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock valued at $28,000 after acquiring an additional 2,124 shares during the period. Rockefeller Capital Management L.P. grew its holdings in shares of MediaAlpha by 9,917.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock worth $36,000 after acquiring an additional 2,777 shares during the period. Quarry LP grew its holdings in shares of MediaAlpha by 43.3% in the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after acquiring an additional 1,234 shares during the period. Strs Ohio purchased a new position in MediaAlpha in the 4th quarter valued at approximately $49,000. Finally, Tower Research Capital LLC TRC increased its stake in MediaAlpha by 28.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock valued at $61,000 after purchasing an additional 1,213 shares in the last quarter. 64.39% of the stock is owned by institutional investors and hedge funds.

About MediaAlpha

MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company’s platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.

The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.