MediaAlpha (NYSE:MAX) Upgraded at Zacks Research

MediaAlpha (NYSE:MAX) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday, Zacks reports.

MAX has been the subject of a number of other reports. Texas Capital raised MediaAlpha to a “strong-buy” rating in a report on Tuesday, June 9th. Royal Bank Of Canada raised their target price on MediaAlpha from $11.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group boosted their target price on MediaAlpha from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Keefe, Bruyette & Woods upped their price target on MediaAlpha from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Finally, Canaccord Genuity Group increased their price target on shares of MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $14.29.

MediaAlpha Stock Down 6.1%

NYSE MAX opened at $9.37 on Tuesday. MediaAlpha has a 52 week low of $7.09 and a 52 week high of $14.70. The stock has a market capitalization of $574.10 million, a PE ratio of 5.78 and a beta of 1.16. The firm has a 50 day moving average of $12.53 and a two-hundred day moving average of $10.89.

MediaAlpha (NYSE:MAX) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.42. The business had revenue of $316.88 million during the quarter, compared to analysts’ expectations of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. On average, equities research analysts expect that MediaAlpha will post 1.28 earnings per share for the current fiscal year.

Insider Activity at MediaAlpha

In other news, CRO Keith Cramer sold 13,000 shares of MediaAlpha stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $11.49, for a total transaction of $149,370.00. Following the sale, the executive owned 251,303 shares in the company, valued at approximately $2,887,471.47. The trade was a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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, Director Eugene Nonko sold 6,667 shares of MediaAlpha stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $10.53, for a total value of $70,203.51. Following the sale, the director owned 861,217 shares in the company, valued at $9,068,615.01. This trade represents a 0.77% decrease in their position. 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 sold a total of 618,468 shares of company stock valued at $8,000,539 over the last ninety days. Insiders own 14.65% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Triad Investment Management increased its position in MediaAlpha by 10.4% during the second quarter. Triad Investment Management now owns 368,731 shares of the company’s stock worth $4,635,000 after buying an additional 34,867 shares during the period. Squarepoint Ops LLC lifted its stake in MediaAlpha by 8.7% in the second quarter. Squarepoint Ops LLC now owns 234,255 shares of the company’s stock valued at $2,945,000 after buying an additional 18,714 shares during the last quarter. Corient Private Wealth LP boosted its holdings in shares of MediaAlpha by 50.7% in the second quarter. Corient Private Wealth LP now owns 23,451 shares of the company’s stock valued at $295,000 after acquiring an additional 7,892 shares during the period. AXQ Capital LP acquired a new stake in shares of MediaAlpha in the second quarter valued at approximately $316,000. Finally, Globeflex Capital L P acquired a new stake in shares of MediaAlpha in the second quarter valued at approximately $702,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

About MediaAlpha

MediaAlpha, Inc operates a technology platform that connects consumers seeking insurance and other financial products with providers seeking qualified customer leads. Its marketplace uses data, analytics and real-time bidding technology to help carriers, agencies and other distributors acquire customers across digital channels.

The company’s platform primarily supports the marketing and distribution of insurance products, including property and casualty, health and life insurance. MediaAlpha provides tools for managing customer acquisition campaigns, matching consumer inquiries with relevant providers, and optimizing marketing performance across search, display and other online channels.

MediaAlpha was founded in 2014 and is headquartered in Los Angeles, California.