MediaAlpha (NYSE:MAX) Price Target Lowered to $15.00 at Keefe, Bruyette & Woods

MediaAlpha (NYSE:MAX) had its target price cut by Keefe, Bruyette & Woods from $16.00 to $15.00 in a report released on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also commented on MAX. Zacks Research lowered MediaAlpha from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 25th. The Goldman Sachs Group lowered their target price on MediaAlpha from $13.50 to $11.50 and set a “neutral” rating for the company in a report on Tuesday, February 24th. JPMorgan Chase & Co. lowered their target price on MediaAlpha from $15.00 to $11.00 and set an “overweight” rating for the company in a report on Tuesday, February 24th. Royal Bank Of Canada lowered their target price on MediaAlpha from $18.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. Finally, Weiss Ratings raised MediaAlpha from a “sell (d)” rating to a “hold (c-)” rating in a report on Wednesday, February 25th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $12.70.

MediaAlpha Stock Up 2.0%

Shares of MediaAlpha stock opened at $9.53 on Tuesday. The firm has a market cap of $614.62 million, a P/E ratio of 24.43 and a beta of 1.39. MediaAlpha has a fifty-two week low of $7.09 and a fifty-two week high of $13.92. The business has a 50-day moving average price of $9.22 and a 200 day moving average price of $11.06.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Monday, February 23rd. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.25. The firm had revenue of $291.16 million during the quarter, compared to analyst estimates of $296.42 million. MediaAlpha had a negative return on equity of 132.73% and a net margin of 2.30%.MediaAlpha’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 earnings per share. As a group, equities research analysts anticipate that MediaAlpha will post 0.48 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Steven Yi sold 39,252 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $9.99, for a total transaction of $392,127.48. Following the completion of the transaction, the insider directly owned 2,649,624 shares in the company, valued at approximately $26,469,743.76. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Kuanling Amy Yeh sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $7.31, for a total value of $87,720.00. Following the transaction, the chief technology officer owned 381,662 shares of the company’s stock, valued at approximately $2,789,949.22. This represents a 3.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 474,089 shares of company stock valued at $4,766,815. Corporate insiders own 13.44% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. boosted its position in shares of MediaAlpha by 9,917.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock worth $36,000 after buying an additional 2,777 shares during the period. Pacer Advisors Inc. boosted its position in shares of MediaAlpha by 6.7% during the fourth quarter. Pacer Advisors Inc. now owns 263,024 shares of the company’s stock worth $3,406,000 after buying an additional 16,597 shares during the period. Invesco Ltd. boosted its position in shares of MediaAlpha by 32.1% during the fourth quarter. Invesco Ltd. now owns 26,024 shares of the company’s stock worth $337,000 after buying an additional 6,319 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in shares of MediaAlpha by 32.1% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,960 shares of the company’s stock worth $220,000 after buying an additional 4,120 shares during the period. Finally, State of Tennessee Department of Treasury acquired a new position in shares of MediaAlpha during the fourth quarter worth approximately $167,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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.