MediaAlpha, Inc. (NYSE:MAX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of MediaAlpha, Inc. (NYSE:MAX) have earned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $14.29.

MAX has been the topic of several research analyst reports. JPMorgan Chase & Co. initiated coverage on MediaAlpha in a research report on Monday, August 24th. They issued a “neutral” rating and a $15.00 price objective on the stock. TD Cowen cut their target price on MediaAlpha from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, June 23rd. Wall Street Zen raised MediaAlpha from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Royal Bank Of Canada lifted their target price on MediaAlpha from $11.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, Canaccord Genuity Group boosted their price target on MediaAlpha from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, July 30th.

Insider Activity

In related news, CTO Kuanling Yeh sold 3,000 shares of the company’s stock in a transaction on Friday, September 25th. The shares were sold at an average price of $9.40, for a total transaction of $28,200.00. Following the completion of the transaction, the chief technology officer owned 546,091 shares in the company, valued at approximately $5,133,255.40. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 6,667 shares of the firm’s stock in a transaction on Monday, September 21st. The shares were sold at an average price of $10.53, for a total transaction of $70,203.51. Following the transaction, the director directly owned 861,217 shares of the company’s stock, valued at $9,068,615.01. The trade was a 0.77% 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 a total of 378,424 shares of company stock worth $4,785,333 over the last quarter. Insiders own 14.65% of the company’s stock.

Institutional Trading of MediaAlpha

Several hedge funds have recently bought and sold shares of MAX. Triad Investment Management boosted its holdings in shares of MediaAlpha by 10.4% during the 2nd quarter. Triad Investment Management now owns 368,731 shares of the company’s stock valued at $4,635,000 after purchasing an additional 34,867 shares during the last quarter. Squarepoint Ops LLC grew its position in shares of MediaAlpha by 8.7% during the second quarter. Squarepoint Ops LLC now owns 234,255 shares of the company’s stock valued at $2,945,000 after purchasing an additional 18,714 shares in the last quarter. Corient Private Wealth LP increased 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 worth $295,000 after purchasing an additional 7,892 shares during the last quarter. AXQ Capital LP bought a new stake in shares of MediaAlpha in the second quarter worth about $316,000. Finally, Globeflex Capital L P purchased a new stake in shares of MediaAlpha in the second quarter worth about $702,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

MediaAlpha Price Performance

Shares of MAX stock opened at $9.66 on Friday. The company has a market capitalization of $592.02 million, a price-to-earnings ratio of 5.97 and a beta of 1.14. MediaAlpha has a one year low of $7.09 and a one year high of $14.70. The company’s fifty day moving average price is $11.69 and its 200-day moving average price is $10.87.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.42. The company had revenue of $316.88 million during the quarter, compared to the consensus estimate of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. Equities research analysts expect that MediaAlpha will post 1.4 earnings per share for the current fiscal year.

About MediaAlpha

MediaAlpha, Inc (NYSE: MAX) operates a technology platform designed to help insurance companies and distributors acquire customers through digital channels. Its platform connects consumers who are shopping for insurance with providers and other distribution partners, using data, analytics and automated transactions to facilitate customer acquisition.

The company’s services primarily support insurance shopping and marketing across categories such as auto, home, health and life insurance.