MediaAlpha (NYSE:MAX) Price Target Increased to $30.00 by Analysts at Canaccord Genuity Group

MediaAlpha (NYSE:MAX) had its target price boosted by Canaccord Genuity Group from $25.00 to $30.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price indicates a potential upside of 35.87% from the stock’s previous close.

Several other equities research analysts also recently weighed in on MAX. BMO Capital Markets raised shares of MediaAlpha from a “market perform” rating to an “outperform” rating and raised their price target for the company from $9.00 to $28.00 in a research report on Monday, February 26th. JPMorgan Chase & Co. lifted their target price on MediaAlpha from $18.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday. Royal Bank of Canada upped their price target on MediaAlpha from $12.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, February 21st. Finally, TD Cowen initiated coverage on MediaAlpha in a research report on Wednesday, January 10th. They set an “outperform” rating and a $15.00 price objective on the stock. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

MediaAlpha Trading Up 4.8 %

NYSE:MAX traded up $1.02 during trading hours on Thursday, reaching $22.08. 1,285,910 shares of the company traded hands, compared to its average volume of 304,536. MediaAlpha has a 1 year low of $5.08 and a 1 year high of $25.78. The stock has a market capitalization of $1.45 billion, a P/E ratio of -25.12 and a beta of 1.32. The business’s 50-day moving average price is $19.80 and its two-hundred day moving average price is $14.21.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09. The firm had revenue of $126.60 million during the quarter, compared to the consensus estimate of $111.17 million. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.23) EPS. As a group, equities analysts anticipate that MediaAlpha will post -0.4 EPS for the current year.

Insider Transactions at MediaAlpha

In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $19.85, for a total value of $58,557,500.00. Following the transaction, the insider now directly owns 50,000 shares of the company’s stock, valued at $992,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.53% of the company’s stock.

Institutional Investors Weigh In On MediaAlpha

A number of hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its position in MediaAlpha by 111.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock valued at $50,000 after purchasing an additional 2,343 shares in the last quarter. Alliance Wealth Advisors LLC UT purchased a new position in shares of MediaAlpha during the 3rd quarter valued at about $84,000. Allspring Global Investments Holdings LLC grew its stake in shares of MediaAlpha by 305.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 16,404 shares of the company’s stock valued at $135,000 after acquiring an additional 12,355 shares during the period. Baker Tilly Wealth Management LLC increased its stake in MediaAlpha by 13.7% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock worth $154,000 after buying an additional 1,660 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in MediaAlpha during the 3rd quarter valued at approximately $162,000. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Company Profile

MediaAlpha, Inc, through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.