MediaAlpha (NYSE:MAX) Cut to Buy at Wall Street Zen

Wall Street Zen downgraded shares of MediaAlpha (NYSE:MAX) from a strong-buy rating to a buy rating in a report released on Saturday,Wall Street Zen reports.

Several other research firms have also recently weighed in on MAX. The Goldman Sachs Group raised their target price on shares of MediaAlpha from $10.50 to $13.00 and gave the company a “neutral” rating in a research note on Thursday. Zacks Research cut shares of MediaAlpha from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 21st. Weiss Ratings upgraded MediaAlpha from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Royal Bank Of Canada raised their price objective on MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Keefe, Bruyette & Woods upped their target price on MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, MediaAlpha has an average rating of “Moderate Buy” and an average target price of $14.71.

MediaAlpha Stock Performance

NYSE MAX opened at $14.88 on Friday. MediaAlpha has a fifty-two week low of $7.09 and a fifty-two week high of $15.10. The company has a market capitalization of $911.91 million, a PE ratio of 8.18 and a beta of 1.14. The business’s fifty day moving average is $11.31 and its 200 day moving average is $10.67.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.18. The firm had revenue of $375.95 million during the quarter, compared to analysts’ expectations of $347.93 million. MediaAlpha had a net margin of 8.35% and a negative return on equity of 512.69%. On average, sell-side analysts forecast that MediaAlpha will post 1.48 EPS for the current year.

Insider Transactions at MediaAlpha

In related news, CRO Keith Cramer sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $11.39, for a total transaction of $136,680.00. Following the completion of the sale, the executive directly owned 239,303 shares in the company, valued at approximately $2,725,661.17. The trade was a 4.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, CTO Kuanling Yeh sold 3,000 shares of the stock in a transaction on Friday, October 16th. The shares were sold at an average price of $11.77, for a total value of $35,310.00. Following the completion of the transaction, the chief technology officer directly owned 543,091 shares of the company’s stock, valued at approximately $6,392,181.07. This represents a 0.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold 331,618 shares of company stock valued at $3,964,983 over the last ninety days. Insiders own 14.65% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

Institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its holdings in shares of MediaAlpha by 380.9% during the 1st quarter. Bank of America Corp DE now owns 279,704 shares of the company’s stock worth $2,601,000 after buying an additional 221,540 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in MediaAlpha by 94.1% in the first quarter. Dimensional Fund Advisors LP now owns 620,669 shares of the company’s stock valued at $5,773,000 after acquiring an additional 300,871 shares during the last quarter. Jacobs Asset Management LLC lifted its holdings in MediaAlpha by 31.1% in the first quarter. Jacobs Asset Management LLC now owns 924,443 shares of the company’s stock valued at $8,597,000 after acquiring an additional 219,144 shares during the last quarter. Globeflex Capital L P acquired a new position in MediaAlpha in the second quarter valued at approximately $702,000. Finally, Principal Financial Group Inc. grew its position in MediaAlpha by 288.7% in the first quarter. Principal Financial Group Inc. now owns 137,613 shares of the company’s stock worth $1,280,000 after acquiring an additional 102,210 shares during the period. Hedge funds and other institutional investors own 64.39% of the company’s stock.

About MediaAlpha

MediaAlpha, Inc operates a technology platform that helps insurance carriers and distributors acquire customers through digital channels. Its marketplace connects consumers who are shopping for insurance with providers seeking qualified prospects, using data, analytics and automated systems to facilitate the matching process.

The company’s platform supports customer acquisition across insurance categories, including property and casualty products such as auto and home insurance, as well as health, life and Medicare-related coverage.