MediaAlpha, Inc. (NYSE:MAX) Receives Average Rating of “Buy” from Analysts

MediaAlpha, Inc. (NYSE:MAX) has received a consensus rating of “Buy” from the eleven research firms that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $45.50.

Several equities research analysts have recently commented on the stock. Canaccord Genuity reduced their price target on shares of MediaAlpha from $70.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, August 13th. They noted that the move was a valuation call. Royal Bank of Canada dropped their price target on MediaAlpha from $65.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday, August 18th. Zacks Investment Research upgraded MediaAlpha from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Wolfe Research began coverage on MediaAlpha in a research note on Monday, August 16th. They set a “peer perform” rating and a $30.00 price target on the stock.

In other news, insider Brian Mikalis sold 1,699 shares of the firm’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $22.27, for a total value of $37,836.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff Sweetser sold 11,446 shares of the firm’s stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $30.94, for a total value of $354,139.24. The disclosure for this sale can be found here. Insiders sold a total of 86,245 shares of company stock worth $2,311,815 in the last quarter. Company insiders own 10.21% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC acquired a new position in shares of MediaAlpha during the second quarter worth about $54,000. Royal Bank of Canada increased its holdings in MediaAlpha by 339.5% in the first quarter. Royal Bank of Canada now owns 1,569 shares of the company’s stock valued at $56,000 after buying an additional 1,212 shares during the last quarter. SG Americas Securities LLC bought a new stake in MediaAlpha in the second quarter valued at about $116,000. ProShare Advisors LLC bought a new stake in MediaAlpha in the second quarter valued at about $226,000. Finally, HBK Sorce Advisory LLC bought a new stake in MediaAlpha in the second quarter valued at about $228,000. Hedge funds and other institutional investors own 62.74% of the company’s stock.

MAX stock opened at $19.00 on Thursday. The company has a market capitalization of $1.14 billion and a PE ratio of -135.71. MediaAlpha has a one year low of $16.39 and a one year high of $70.33. The company’s 50 day moving average price is $21.91 and its two-hundred day moving average price is $32.59.

MediaAlpha (NYSE:MAX) last announced its earnings results on Thursday, August 12th. The company reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.02). The firm had revenue of $157.35 million for the quarter, compared to analysts’ expectations of $158.38 million. As a group, equities analysts forecast that MediaAlpha will post 0.1 EPS for the current fiscal year.

MediaAlpha Company Profile

MediaAlpha, Inc, through its subsidiaries, operates insurance customer acquisition platform in the United States. Its real-time customer acquisition and predictive analytics platform allows insurance carriers, distributors, and other clients to acquire customers and optimize customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance.

See Also: What is basic economics?

Analyst Recommendations for MediaAlpha (NYSE:MAX)

Receive News & Ratings for MediaAlpha Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MediaAlpha and related companies with MarketBeat.com's FREE daily email newsletter.