MediaAlpha, Inc. (NYSE:MAX) Given Average Rating of “Hold” by Analysts

MediaAlpha, Inc. (NYSE:MAX) has received an average rating of “Hold” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $17.25.

A number of research analysts have recently commented on the stock. The Goldman Sachs Group set a $13.50 target price on shares of MediaAlpha in a report on Friday, October 31st. Canaccord Genuity Group reissued a “buy” rating and issued a $15.00 price objective on shares of MediaAlpha in a research note on Thursday, October 30th. Zacks Research downgraded shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a report on Thursday, January 29th. JPMorgan Chase & Co. raised their price objective on MediaAlpha from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Keefe, Bruyette & Woods boosted their price objective on MediaAlpha from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th.

MediaAlpha Price Performance

NYSE MAX opened at $7.66 on Friday. The business has a fifty day moving average price of $10.88 and a two-hundred day moving average price of $11.45. The stock has a market capitalization of $499.20 million, a PE ratio of -255.25 and a beta of 1.29. MediaAlpha has a fifty-two week low of $7.09 and a fifty-two week high of $13.92.

Insider Activity

In related news, General Counsel Jeffrey B. Coyne sold 5,000 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $7.30, for a total value of $36,500.00. Following the sale, the general counsel owned 436,783 shares of the company’s stock, valued at $3,188,515.90. The trade was a 1.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven Yi sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $7.29, for a total value of $29,160.00. Following the transaction, the insider directly owned 2,709,624 shares of the company’s stock, valued at approximately $19,753,158.96. This represents a 0.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 515,100 shares of company stock worth $6,060,195. Company insiders own 13.44% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

A number of hedge funds have recently made changes to their positions in the stock. Intech Investment Management LLC boosted its holdings in MediaAlpha by 6.4% during the second quarter. Intech Investment Management LLC now owns 18,502 shares of the company’s stock worth $203,000 after purchasing an additional 1,105 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of MediaAlpha by 2.3% in the 2nd quarter. Hsbc Holdings PLC now owns 51,550 shares of the company’s stock worth $561,000 after buying an additional 1,144 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of MediaAlpha by 28.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock valued at $61,000 after acquiring an additional 1,213 shares in the last quarter. Quarry LP increased its position in shares of MediaAlpha by 43.3% during the third quarter. Quarry LP now owns 4,087 shares of the company’s stock valued at $47,000 after acquiring an additional 1,234 shares during the last quarter. Finally, Corton Capital Inc. increased its position in shares of MediaAlpha by 8.2% during the second quarter. Corton Capital Inc. now owns 18,865 shares of the company’s stock valued at $207,000 after acquiring an additional 1,425 shares during the last quarter. 64.39% of the stock is currently 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.