MediaAlpha, Inc. (NYSE:MAX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of MediaAlpha, Inc. (NYSE:MAX) have received a consensus rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $24.29.

Several research firms have weighed in on MAX. Keefe, Bruyette & Woods restated an “outperform” rating and set a $26.00 price objective (up previously from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. The Goldman Sachs Group started coverage on MediaAlpha in a report on Tuesday, August 20th. They set a “buy” rating and a $20.00 price objective for the company. TD Cowen cut MediaAlpha from a “buy” rating to a “hold” rating and cut their target price for the company from $19.00 to $13.00 in a research report on Wednesday, June 26th. Finally, Royal Bank of Canada increased their price target on MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, May 28th.

MediaAlpha Trading Up 0.1 %

NYSE:MAX opened at $17.51 on Friday. The firm has a fifty day simple moving average of $16.03 and a two-hundred day simple moving average of $17.52. MediaAlpha has a 12 month low of $7.62 and a 12 month high of $25.78. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of -25.75 and a beta of 1.22.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The firm had revenue of $178.27 million during the quarter, compared to analyst estimates of $151.40 million. During the same period last year, the business posted ($0.32) EPS. The company’s revenue was up 110.3% on a year-over-year basis. Equities analysts predict that MediaAlpha will post 0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MediaAlpha

A number of hedge funds have recently modified their holdings of the stock. TimesSquare Capital Management LLC purchased a new position in shares of MediaAlpha during the 1st quarter valued at $22,181,000. Driehaus Capital Management LLC raised its position in MediaAlpha by 208.4% during the second quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock valued at $18,920,000 after purchasing an additional 970,840 shares in the last quarter. Divisadero Street Capital Management LP bought a new stake in MediaAlpha during the second quarter worth about $7,956,000. Emerald Advisers LLC boosted its holdings in shares of MediaAlpha by 51,407.5% in the 2nd quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock worth $7,882,000 after purchasing an additional 597,355 shares in the last quarter. Finally, Clearline Capital LP boosted its holdings in shares of MediaAlpha by 1,255.3% in the 2nd quarter. Clearline Capital LP now owns 576,728 shares of the company’s stock worth $7,596,000 after purchasing an additional 534,176 shares in the last quarter. Institutional investors own 64.39% of the company’s stock.

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.