MediaAlpha, Inc. (NYSE:MAX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of MediaAlpha, Inc. (NYSE:MAX) have been assigned an average rating of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $12.6429.

A number of equities research analysts recently issued reports on MAX shares. Wall Street Zen upgraded MediaAlpha from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Weiss Ratings upgraded MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. upped their target price on MediaAlpha from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. TD Cowen lowered their price target on MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, June 23rd. Finally, Texas Capital upgraded MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th.

MediaAlpha Trading Up 0.0%

MediaAlpha stock opened at $13.13 on Monday. The firm’s 50 day simple moving average is $11.04 and its 200 day simple moving average is $10.12. The firm has a market capitalization of $818.72 million, a PE ratio of 20.52 and a beta of 1.08. MediaAlpha has a 1-year low of $7.09 and a 1-year high of $14.70.

MediaAlpha (NYSE:MAX) last posted its earnings results on Wednesday, April 29th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $310.00 million during the quarter, compared to analysts’ expectations of $298.91 million. MediaAlpha had a negative return on equity of 147.82% and a net margin of 3.37%.The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.04) earnings per share. Research analysts forecast that MediaAlpha will post 0.97 earnings per share for the current year.

Insider Activity at MediaAlpha

In related news, Director Eugene Nonko sold 26,888 shares of the firm’s stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $10.01, for a total value of $269,148.88. Following the sale, the director directly owned 1,247,274 shares of the company’s stock, valued at $12,485,212.74. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Steven Yi sold 96,000 shares of MediaAlpha stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $12.90, for a total transaction of $1,238,400.00. Following the sale, the insider owned 2,759,690 shares of the company’s stock, valued at approximately $35,600,001. The trade was a 3.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 475,867 shares of company stock worth $5,501,383. 14.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Glenmede Trust Co. NA bought a new stake in shares of MediaAlpha in the 1st quarter worth approximately $122,000. Bank of America Corp DE grew its holdings in shares of MediaAlpha by 380.9% during the 1st quarter. Bank of America Corp DE now owns 279,704 shares of the company’s stock valued at $2,601,000 after purchasing an additional 221,540 shares during the last quarter. Amundi grew its holdings in shares of MediaAlpha by 33.2% during the 1st quarter. Amundi now owns 78,104 shares of the company’s stock valued at $726,000 after purchasing an additional 19,488 shares during the last quarter. Stoic Point Capital Management LLC raised its position in MediaAlpha by 6.6% in the 1st quarter. Stoic Point Capital Management LLC now owns 221,041 shares of the company’s stock worth $2,056,000 after purchasing an additional 13,743 shares during the period. Finally, Quantinno Capital Management LP raised its position in MediaAlpha by 150.9% in the 1st quarter. Quantinno Capital Management LP now owns 107,274 shares of the company’s stock worth $998,000 after purchasing an additional 64,526 shares during the period. 64.39% of the stock is owned by hedge funds and other institutional investors.

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.