MediaAlpha, Inc. (NYSE:MAX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of MediaAlpha, Inc. (NYSE:MAX) have earned an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $24.14.

Several research analysts have issued reports on MAX shares. The Goldman Sachs Group upped their price objective on MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Royal Bank of Canada decreased their price target on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods lowered their price objective on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th.

Insider Activity at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total value of $1,488,240.00. Following the completion of the sale, the insider now owns 1,550,990 shares of the company’s stock, valued at approximately $32,058,963.30. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 11.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in MediaAlpha by 11.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock worth $206,000 after buying an additional 1,213 shares during the period. Hsbc Holdings PLC increased its holdings in shares of MediaAlpha by 7.1% in the second quarter. Hsbc Holdings PLC now owns 23,791 shares of the company’s stock worth $312,000 after acquiring an additional 1,582 shares in the last quarter. Quarry LP raised its position in shares of MediaAlpha by 157.8% during the third quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after purchasing an additional 1,726 shares during the period. Rhumbline Advisers lifted its holdings in shares of MediaAlpha by 7.3% during the 2nd quarter. Rhumbline Advisers now owns 36,751 shares of the company’s stock valued at $484,000 after purchasing an additional 2,511 shares in the last quarter. Finally, MetLife Investment Management LLC grew its position in shares of MediaAlpha by 28.8% in the 3rd quarter. MetLife Investment Management LLC now owns 17,446 shares of the company’s stock valued at $316,000 after purchasing an additional 3,906 shares during the period. Institutional investors and hedge funds own 64.39% of the company’s stock.

MediaAlpha Stock Up 5.1 %

MediaAlpha stock opened at $11.41 on Friday. The stock has a 50-day simple moving average of $13.48 and a 200 day simple moving average of $15.28. The stock has a market capitalization of $760.64 million, a price-to-earnings ratio of 67.12 and a beta of 1.10. MediaAlpha has a 12-month low of $10.21 and a 12-month high of $25.78.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The company had revenue of $259.13 million during the quarter, compared to the consensus estimate of $246.96 million. As a group, sell-side analysts anticipate that MediaAlpha will post 0.42 EPS for the current year.

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.