MediaAlpha, Inc. (NYSE:MAX) Receives $12.90 Consensus PT from Brokerages

MediaAlpha, Inc. (NYSE:MAX) has earned a consensus rating of “Hold” from the seven brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $12.90.

Several equities analysts recently issued reports on MAX shares. Weiss Ratings upgraded shares of MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Royal Bank Of Canada dropped their target price on shares of MediaAlpha from $18.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. The Goldman Sachs Group dropped their price objective on shares of MediaAlpha from $13.50 to $11.50 and set a “neutral” rating on the stock in a report on Tuesday, February 24th. Zacks Research lowered shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Finally, Wall Street Zen lowered shares of MediaAlpha from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd.

Insider Activity

In other news, insider Steven Yi sold 33,663 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $9.99, for a total transaction of $336,293.37. Following the transaction, the insider owned 2,924,994 shares in the company, valued at approximately $29,220,690.06. This represents a 1.14% decrease in their ownership of the stock. The sale 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 49,844 shares of the company’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $10.04, for a total transaction of $500,433.76. Following the transaction, the director owned 1,329,099 shares in the company, valued at $13,344,153.96. This represents a 3.61% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 470,697 shares of company stock worth $4,621,654 in the last quarter. Company insiders own 14.65% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

Institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd raised its holdings in shares of MediaAlpha by 5,900.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock valued at $28,000 after purchasing an additional 2,124 shares during the period. Rockefeller Capital Management L.P. raised its holdings in shares of MediaAlpha by 9,917.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock valued at $36,000 after purchasing an additional 2,777 shares during the period. Quarry LP raised 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 last quarter. Strs Ohio acquired a new stake in shares of MediaAlpha in the 4th quarter worth about $49,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of MediaAlpha by 28.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock worth $61,000 after acquiring an additional 1,213 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

MediaAlpha Stock Up 4.2%

MAX stock opened at $8.64 on Friday. The firm has a market cap of $538.64 million, a price-to-earnings ratio of 13.50 and a beta of 1.16. MediaAlpha has a 12-month low of $7.09 and a 12-month high of $13.92. The company’s fifty day simple moving average is $9.14 and its 200 day simple moving average is $10.30.

MediaAlpha (NYSE:MAX) last released its earnings results on Wednesday, April 29th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $310.00 million during the quarter, compared to analyst estimates of $298.91 million. MediaAlpha had a net margin of 3.37% and a negative return on equity of 147.82%. MediaAlpha’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) EPS. Research analysts expect that MediaAlpha will post 1.02 earnings per share for the current 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.