Brokerages Set MediaAlpha, Inc. (NYSE:MAX) Target Price at $18.20

MediaAlpha, Inc. (NYSE:MAX) has been given an average rating of “Moderate Buy” by the six ratings firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $18.20.

MAX has been the topic of several recent research reports. Canaccord Genuity Group raised their price objective on MediaAlpha from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. BMO Capital Markets raised MediaAlpha from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $9.00 to $28.00 in a report on Monday, February 26th. Royal Bank of Canada lifted their target price on MediaAlpha from $12.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. Finally, TD Cowen initiated coverage on MediaAlpha in a report on Wednesday, January 10th. They set an “outperform” rating and a $15.00 target price on the stock.

Insiders Place Their Bets

In other news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of MediaAlpha 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 completion of the transaction, the insider now directly owns 50,000 shares of the company’s stock, valued at approximately $992,500. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SNC bought a new position in shares of MediaAlpha in the 3rd quarter worth about $37,000. Tower Research Capital LLC TRC raised its position in shares of MediaAlpha by 111.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock worth $50,000 after acquiring an additional 2,343 shares in the last quarter. Barclays PLC raised its position in shares of MediaAlpha by 548.1% in the 4th quarter. Barclays PLC now owns 6,617 shares of the company’s stock worth $66,000 after acquiring an additional 5,596 shares in the last quarter. Legal & General Group Plc raised its position in shares of MediaAlpha by 28.2% in the 2nd quarter. Legal & General Group Plc now owns 7,491 shares of the company’s stock worth $74,000 after acquiring an additional 1,646 shares in the last quarter. Finally, State of Wyoming increased its position in MediaAlpha by 275.9% in the 4th quarter. State of Wyoming now owns 7,793 shares of the company’s stock valued at $78,000 after buying an additional 5,720 shares in the last quarter. 64.39% of the stock is owned by institutional investors.

MediaAlpha Stock Up 2.4 %

NYSE MAX opened at $18.55 on Tuesday. MediaAlpha has a twelve month low of $5.08 and a twelve month high of $22.81. The company has a market cap of $1.22 billion, a price-to-earnings ratio of -20.84 and a beta of 1.35. The business’s fifty day moving average is $19.18 and its 200 day moving average is $13.50.

MediaAlpha (NYSE:MAX) last released its quarterly earnings data on Tuesday, February 20th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.16. The firm had revenue of $117.17 million for the quarter, compared to analyst estimates of $111.36 million. On average, research analysts anticipate that MediaAlpha will post -0.4 earnings per share for the current fiscal 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.