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

MediaAlpha, Inc. (NYSE:MAX) has been assigned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $24.29.

MAX has been the topic of a number of recent research reports. TD Cowen lowered shares of MediaAlpha from a “buy” rating to a “hold” rating and cut their price target for the stock from $19.00 to $13.00 in a research note on Wednesday, June 26th. The Goldman Sachs Group initiated coverage on shares of MediaAlpha in a report on Tuesday, August 20th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $26.00 price target (up previously from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st.

Institutional Trading of MediaAlpha

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd purchased a new position in shares of MediaAlpha in the 2nd quarter valued at about $65,000. Sandia Investment Management LP purchased a new position in MediaAlpha in the second quarter valued at approximately $79,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in MediaAlpha by 354.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock worth $114,000 after purchasing an additional 6,728 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of MediaAlpha during the 2nd quarter worth approximately $134,000. Finally, EntryPoint Capital LLC acquired a new position in shares of MediaAlpha in the 1st quarter valued at $136,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

MediaAlpha Stock Performance

MediaAlpha stock opened at $18.83 on Tuesday. The company’s 50 day simple moving average is $17.27 and its 200-day simple moving average is $17.24. MediaAlpha has a 1 year low of $8.51 and a 1 year high of $25.78. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -64.93 and a beta of 1.22.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.02 by $0.05. The firm had revenue of $178.27 million for the quarter, compared to analysts’ expectations of $151.40 million. The company’s quarterly revenue was up 110.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.32) earnings per share. Equities analysts expect that MediaAlpha will post 0.35 earnings per share for the current year.

MediaAlpha Company Profile

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.