Analysts Set MediaAlpha, Inc. (NYSE:MAX) Price Target at $21.57

Shares of MediaAlpha, Inc. (NYSE:MAX) have earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $21.57.

A number of research analysts have recently commented on MAX shares. Keefe, Bruyette & Woods reduced their price target on shares of MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. JPMorgan Chase & Co. decreased their target price on MediaAlpha from $25.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. The Goldman Sachs Group dropped their target price on shares of MediaAlpha from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada decreased their price target on shares of MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th.

Insider Transactions at MediaAlpha

In related news, insider Eugene Nonko sold 72,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the transaction, the insider now directly owns 1,550,990 shares in the company, valued at $32,058,963.30. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of MediaAlpha by 15.8% during the second quarter. Bank of New York Mellon Corp now owns 84,155 shares of the company’s stock valued at $1,108,000 after acquiring an additional 11,503 shares during the last quarter. Rhumbline Advisers raised its position in 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 during the last quarter. Victory Capital Management Inc. bought a new stake in shares of MediaAlpha in the 2nd quarter worth approximately $477,000. Federated Hermes Inc. increased its stake in shares of MediaAlpha by 29.0% during the second quarter. Federated Hermes Inc. now owns 121,566 shares of the company’s stock valued at $1,601,000 after buying an additional 27,306 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of MediaAlpha by 19.1% during the second quarter. Renaissance Technologies LLC now owns 470,000 shares of the company’s stock valued at $6,190,000 after acquiring an additional 75,400 shares in the last quarter. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Stock Performance

Shares of NYSE MAX opened at $10.67 on Thursday. MediaAlpha has a fifty-two week low of $10.21 and a fifty-two week high of $25.78. The stock has a market cap of $711.13 million, a PE ratio of 62.75 and a beta of 1.12. The stock has a fifty day moving average of $11.55 and a 200-day moving average of $14.77.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The firm had revenue of $259.13 million for the quarter, compared to analysts’ expectations of $246.96 million. On average, sell-side analysts predict that MediaAlpha will post 0.48 EPS for the current year.

About MediaAlpha

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.