MediaAlpha, Inc. (NYSE:MAX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of MediaAlpha, Inc. (NYSE:MAX) have earned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $18.20.

Several research firms have recently issued reports on MAX. Canaccord Genuity Group upped their target price on shares of MediaAlpha from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada boosted their price target on shares of MediaAlpha from $12.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, February 21st. BMO Capital Markets raised shares of MediaAlpha from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $9.00 to $28.00 in a report on Monday, February 26th. Finally, TD Cowen started coverage on shares of MediaAlpha in a report on Wednesday, January 10th. They issued an “outperform” rating and a $15.00 price target on the stock.

MediaAlpha Trading Down 4.2 %

Shares of MAX stock opened at $19.22 on Tuesday. The firm has a market capitalization of $1.27 billion, a PE ratio of -21.60 and a beta of 1.35. The firm has a fifty day simple moving average of $18.84 and a two-hundred day simple moving average of $13.35. MediaAlpha has a 12 month low of $5.08 and a 12 month high of $22.81.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Tuesday, February 20th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.16. The business had revenue of $117.17 million for the quarter, compared to the consensus estimate of $111.36 million. On average, equities analysts predict that MediaAlpha will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at MediaAlpha

In other news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.85, for a total value of $58,557,500.00. Following the sale, the insider now directly owns 50,000 shares of the company’s stock, valued at $992,500. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MAX. Vanguard Group Inc. grew its position in MediaAlpha by 6.5% during the third quarter. Vanguard Group Inc. now owns 2,202,765 shares of the company’s stock valued at $19,274,000 after acquiring an additional 133,920 shares during the last quarter. BlackRock Inc. increased its position in shares of MediaAlpha by 14.9% during the second quarter. BlackRock Inc. now owns 1,763,968 shares of the company’s stock valued at $18,187,000 after buying an additional 229,336 shares during the period. Norges Bank purchased a new position in shares of MediaAlpha during the fourth quarter valued at about $15,920,000. Geode Capital Management LLC increased its position in shares of MediaAlpha by 5.6% during the second quarter. Geode Capital Management LLC now owns 471,095 shares of the company’s stock valued at $4,857,000 after buying an additional 25,087 shares during the period. Finally, State Street Corp increased its position in shares of MediaAlpha by 3.5% during the second quarter. State Street Corp now owns 460,164 shares of the company’s stock valued at $4,744,000 after buying an additional 15,411 shares during the period. 64.39% of the stock is currently owned by institutional investors.

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.