MediaAlpha (NYSE:MAX) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of MediaAlpha (NYSE:MAX) from a hold rating to a strong sell rating in a research report released on Thursday morning,Zacks.com reports.

Several other research firms have also recently issued reports on MAX. Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 target price on shares of MediaAlpha in a research note on Thursday, October 30th. The Goldman Sachs Group set a $13.50 price objective on MediaAlpha in a report on Friday, October 31st. JPMorgan Chase & Co. boosted their target price on MediaAlpha from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Wall Street Zen raised MediaAlpha from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 11th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of MediaAlpha in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, MediaAlpha presently has a consensus rating of “Hold” and a consensus price target of $17.25.

MediaAlpha Stock Down 0.1%

Shares of NYSE MAX opened at $10.23 on Thursday. The firm’s fifty day moving average is $12.21 and its 200 day moving average is $11.67. MediaAlpha has a 52 week low of $7.33 and a 52 week high of $13.92. The company has a market cap of $666.56 million, a price-to-earnings ratio of -340.82 and a beta of 1.21.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.05. MediaAlpha had a negative net margin of 0.10% and a negative return on equity of 71.02%. The business had revenue of $306.51 million during the quarter, compared to analysts’ expectations of $283.30 million. During the same quarter in the prior year, the company posted $0.17 EPS. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. Equities research analysts anticipate that MediaAlpha will post 0.48 earnings per share for the current year.

Insider Transactions at MediaAlpha

In other news, Director Eugene Nonko sold 5,400 shares of the company’s stock in a transaction that occurred on Wednesday, January 28th. The shares were sold at an average price of $10.58, for a total value of $57,132.00. Following the transaction, the director owned 949,648 shares in the company, valued at approximately $10,047,275.84. This represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Steven Yi sold 8,000 shares of MediaAlpha stock in a transaction on Wednesday, January 28th. The stock was sold at an average price of $10.57, for a total value of $84,560.00. Following the completion of the sale, the insider directly owned 2,735,330 shares of the company’s stock, valued at approximately $28,912,438.10. The trade was a 0.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 488,200 shares of company stock valued at $5,978,189. 13.44% of the stock is owned by company insiders.

Hedge Funds Weigh In On MediaAlpha

A number of institutional investors have recently bought and sold shares of the stock. Quarry LP increased its stake in shares of MediaAlpha by 43.3% in the third quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after purchasing an additional 1,234 shares in the last quarter. Tower Research Capital LLC TRC raised its position in MediaAlpha by 28.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock valued at $61,000 after purchasing an additional 1,213 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of MediaAlpha in the second quarter valued at $62,000. Semanteon Capital Management LP purchased a new stake in shares of MediaAlpha in the second quarter worth approximately $110,000. Finally, Invesco Ltd. bought a new position in shares of MediaAlpha in the second quarter worth about $117,000. 64.39% of the stock is owned by institutional investors.

About MediaAlpha

MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company’s platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.

The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.