MediaAlpha (NYSE:MAX) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of MediaAlpha (NYSE:MAXGet Rating) from a hold rating to a sell rating in a research note published on Wednesday, Zacks.com reports.

According to Zacks, “MediaAlpha Inc. provides real-time programmatic technology platform specializing in vertical search and metasearch. MediaAlpha Inc. is based in SEATTLE. “

Several other analysts also recently issued reports on MAX. Citigroup downgraded shares of MediaAlpha from a buy rating to a neutral rating and reduced their price target for the company from $24.00 to $14.00 in a report on Wednesday, February 23rd. Canaccord Genuity Group reduced their price target on shares of MediaAlpha from $30.00 to $20.00 in a report on Friday, February 25th. Finally, Royal Bank of Canada reduced their price target on shares of MediaAlpha from $24.00 to $18.00 and set an outperform rating on the stock in a report on Thursday, March 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $28.89.

MAX stock opened at $10.33 on Wednesday. MediaAlpha has a 52 week low of $9.68 and a 52 week high of $47.00. The company’s 50-day moving average price is $14.75 and its 200 day moving average price is $14.81.

MediaAlpha (NYSE:MAXGet Rating) last released its quarterly earnings data on Thursday, February 24th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). The company had revenue of $161.58 million for the quarter, compared to analysts’ expectations of $155.88 million. On average, equities analysts predict that MediaAlpha will post -0.59 earnings per share for the current year.

In other news, insider Patrick Ryan Thompson acquired 5,000 shares of MediaAlpha stock in a transaction that occurred on Thursday, May 12th. The shares were acquired at an average price of $10.29 per share, with a total value of $51,450.00. Following the completion of the purchase, the insider now owns 49,090 shares of the company’s stock, valued at approximately $505,136.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 9.64% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC increased its position in MediaAlpha by 2.7% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 6,612,072 shares of the company’s stock worth $123,514,000 after purchasing an additional 176,338 shares during the last quarter. Norges Bank acquired a new position in MediaAlpha during the fourth quarter worth approximately $24,704,000. BlackRock Inc. increased its position in MediaAlpha by 0.9% during the fourth quarter. BlackRock Inc. now owns 1,388,842 shares of the company’s stock worth $21,443,000 after purchasing an additional 12,882 shares during the last quarter. Rubric Capital Management LP acquired a new position in MediaAlpha during the fourth quarter worth approximately $9,798,000. Finally, Invesco Ltd. increased its position in MediaAlpha by 47.0% during the third quarter. Invesco Ltd. now owns 582,132 shares of the company’s stock worth $10,875,000 after purchasing an additional 186,195 shares during the last quarter. 65.47% of the stock is owned by hedge funds and other institutional investors.

About MediaAlpha (Get Rating)

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.

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