MediaAlpha (NYSE:MAX) Price Target Lowered to $15.00 at Keefe, Bruyette & Woods

MediaAlpha (NYSE:MAX) had its target price reduced by Keefe, Bruyette & Woods from $16.00 to $15.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 56.72% from the stock’s current price.

A number of other analysts have also issued reports on the stock. Weiss Ratings upgraded shares of MediaAlpha from a “sell (d)” rating to a “hold (c-)” rating in a research note on Wednesday, February 25th. Zacks Research lowered shares of MediaAlpha from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 25th. Wall Street Zen downgraded MediaAlpha from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Royal Bank Of Canada lowered their price objective on MediaAlpha from $18.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. lowered their price objective on MediaAlpha from $15.00 to $11.00 and set an “overweight” rating for the company in a research report on Tuesday, February 24th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.70.

MediaAlpha Stock Up 2.5%

NYSE:MAX traded up $0.23 on Tuesday, reaching $9.57. 271,970 shares of the company’s stock were exchanged, compared to its average volume of 827,160. The firm has a market capitalization of $617.33 million, a price-to-earnings ratio of 24.54 and a beta of 1.39. The business has a fifty day moving average of $9.24 and a 200-day moving average of $11.09. MediaAlpha has a 52-week low of $7.09 and a 52-week high of $13.92.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results on Monday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.25. The company had revenue of $291.16 million for the quarter, compared to analyst estimates of $296.42 million. MediaAlpha had a net margin of 2.30% and a negative return on equity of 132.73%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.08 earnings per share. As a group, equities analysts anticipate that MediaAlpha will post 0.48 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Steven Yi sold 39,252 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $9.99, for a total transaction of $392,127.48. Following the completion of the transaction, the insider directly owned 2,649,624 shares of the company’s stock, valued at approximately $26,469,743.76. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Eugene Nonko sold 59,202 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $10.01, for a total transaction of $592,612.02. Following the completion of the transaction, the director owned 1,395,320 shares in the company, valued at $13,967,153.20. This represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 494,189 shares of company stock valued at $5,001,235. Corporate insiders own 13.44% of the company’s stock.

Institutional Trading of MediaAlpha

Several institutional investors have recently modified their holdings of MAX. 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 worth $28,000 after buying an additional 2,124 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of MediaAlpha by 9,917.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock worth $36,000 after buying an additional 2,777 shares during the last quarter. Quarry LP lifted its position in shares of MediaAlpha by 43.3% during the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after buying an additional 1,234 shares during the last quarter. Strs Ohio purchased a new stake in shares of MediaAlpha during the 4th quarter worth approximately $49,000. Finally, Tower Research Capital LLC TRC lifted its position in shares of MediaAlpha by 28.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock worth $61,000 after buying an additional 1,213 shares during the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.