MediaAlpha, Inc. (NYSE:MAX) Receives $24.14 Consensus Price Target from Analysts

Shares of MediaAlpha, Inc. (NYSE:MAX) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $24.14.

MAX has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of MediaAlpha from $26.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. Royal Bank of Canada reduced their target price on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their price target on MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 1st.

Insiders Place Their Bets

In related news, insider Eugene Nonko sold 72,000 shares of MediaAlpha stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total value of $1,488,240.00. Following the completion of the sale, the insider now directly owns 1,550,990 shares in the company, valued at $32,058,963.30. This trade represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Driehaus Capital Management LLC raised its stake in shares of MediaAlpha by 208.4% during the second quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock worth $18,920,000 after buying an additional 970,840 shares during the last quarter. Clearline Capital LP raised its position in shares of MediaAlpha by 115.3% during the 3rd quarter. Clearline Capital LP now owns 1,241,419 shares of the company’s stock valued at $22,482,000 after acquiring an additional 664,691 shares during the last quarter. Divisadero Street Capital Management LP bought a new stake in shares of MediaAlpha during the 2nd quarter valued at $7,956,000. Emerald Advisers LLC lifted its stake 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 valued at $7,882,000 after purchasing an additional 597,355 shares during the period. Finally, Ghisallo Capital Management LLC boosted its position in shares of MediaAlpha by 535.3% in the 2nd quarter. Ghisallo Capital Management LLC now owns 487,500 shares of the company’s stock worth $6,420,000 after purchasing an additional 410,764 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

MediaAlpha Price Performance

MediaAlpha stock opened at $11.14 on Friday. The business has a 50 day simple moving average of $13.32 and a 200 day simple moving average of $15.21. The company has a market capitalization of $742.64 million, a PE ratio of 65.53 and a beta of 1.10. MediaAlpha has a one year low of $10.21 and a one year high of $25.78.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The company had revenue of $259.13 million during the quarter, compared to analysts’ expectations of $246.96 million. Equities analysts anticipate that MediaAlpha will post 0.42 earnings per share for the current fiscal year.

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.