Analysts Set MediaAlpha, Inc. (NYSE:MAX) Target Price at $13.86

MediaAlpha, Inc. (NYSE:MAX) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $13.8571.

A number of brokerages recently issued reports on MAX. Capital One Financial set a $11.00 price objective on MediaAlpha in a research note on Tuesday, June 9th. Canaccord Genuity Group raised their target price on shares of MediaAlpha from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. TD Cowen lowered their price target on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, June 23rd. Texas Capital upgraded shares of MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. Finally, Royal Bank Of Canada increased their price objective on shares of MediaAlpha from $11.00 to $15.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th.

Insider Buying and Selling

In other news, CRO Keith Cramer sold 13,000 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $9.47, for a total value of $123,110.00. Following the completion of the transaction, the executive owned 280,528 shares of the company’s stock, valued at $2,656,600.16. This represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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, Director Eugene Nonko sold 25,352 shares of the stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $13.86, for a total value of $351,378.72. Following the sale, the director owned 1,137,304 shares of the company’s stock, valued at $15,763,033.44. This represents a 2.18% 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. In the last quarter, insiders sold 519,726 shares of company stock valued at $6,540,242. Company insiders own 14.65% of the company’s stock.

Institutional Investors Weigh In On MediaAlpha

Institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC grew its position in shares of MediaAlpha by 680.9% during the third quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock valued at $16,268,000 after purchasing an additional 1,246,493 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of MediaAlpha by 1,261.9% in the third quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock worth $8,089,000 after buying an additional 658,625 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of MediaAlpha in the second quarter worth about $4,268,000. Lighthouse Investment Partners LLC boosted its stake in MediaAlpha by 831.7% during the third quarter. Lighthouse Investment Partners LLC now owns 353,930 shares of the company’s stock valued at $4,028,000 after buying an additional 315,943 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in MediaAlpha by 29.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company’s stock valued at $17,714,000 after buying an additional 309,455 shares during the last quarter. 64.39% of the stock is owned by hedge funds and other institutional investors.

MediaAlpha Stock Performance

NYSE:MAX opened at $13.15 on Friday. The stock has a 50-day simple moving average of $12.37 and a two-hundred day simple moving average of $10.30. MediaAlpha has a 52-week low of $7.09 and a 52-week high of $14.70. The firm has a market capitalization of $805.81 million, a PE ratio of 8.12 and a beta of 1.11.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.42. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%.The business had revenue of $316.88 million during the quarter, compared to analysts’ expectations of $300.87 million. Equities analysts forecast that MediaAlpha will post 0.97 earnings per share for the current fiscal year.

MediaAlpha Company Profile

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.