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

MediaAlpha, Inc. (NYSE:MAX) has been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the firm, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $17.92.

A number of brokerages recently issued reports on MAX. BMO Capital Markets dropped their price target on shares of MediaAlpha from $27.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, April 3rd. JPMorgan Chase & Co. lifted their target price on shares of MediaAlpha from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. The Goldman Sachs Group dropped their target price on shares of MediaAlpha from $14.00 to $12.50 and set a “buy” rating on the stock in a research note on Monday, April 14th. Royal Bank Of Canada reduced their price target on shares of MediaAlpha from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of MediaAlpha from $19.00 to $16.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd.

MediaAlpha Price Performance

Shares of MediaAlpha stock opened at $10.70 on Thursday. MediaAlpha has a 1 year low of $7.33 and a 1 year high of $20.91. The firm has a market cap of $717.22 million, a price-to-earnings ratio of 38.21 and a beta of 1.20. The company has a 50-day moving average of $10.47 and a 200 day moving average of $10.22.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, April 30th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). MediaAlpha had a net margin of 1.58% and a negative return on equity of 46.92%. The business had revenue of $264.31 million for the quarter, compared to the consensus estimate of $236.07 million. During the same period in the prior year, the business posted ($0.02) EPS. MediaAlpha’s revenue for the quarter was up 108.7% on a year-over-year basis. On average, equities analysts anticipate that MediaAlpha will post 0.48 EPS for the current year.

Institutional Trading of MediaAlpha

A number of institutional investors have recently made changes to their positions in the stock. Covestor Ltd raised its holdings in shares of MediaAlpha by 44.1% during the fourth quarter. Covestor Ltd now owns 2,766 shares of the company’s stock valued at $31,000 after purchasing an additional 847 shares during the last quarter. GAMMA Investing LLC grew its position in MediaAlpha by 8,775.8% in the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company’s stock worth $27,000 after purchasing an additional 2,896 shares during the period. Virtus Fund Advisers LLC purchased a new stake in MediaAlpha during the 4th quarter valued at $35,000. Quarry LP lifted its holdings in shares of MediaAlpha by 107.1% during the 4th quarter. Quarry LP now owns 5,841 shares of the company’s stock valued at $66,000 after buying an additional 3,021 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new position in shares of MediaAlpha during the 4th quarter valued at $67,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.