MediaAlpha (NYSE:MAX) Price Target Lowered to $15.00 at Keefe, Bruyette & Woods

MediaAlpha (NYSE:MAX) had its price objective lowered by investment analysts at Keefe, Bruyette & Woods from $16.00 to $15.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 56.72% from the company’s current price.

MAX has been the subject of several other reports. JPMorgan Chase & Co. decreased their price objective on MediaAlpha from $15.00 to $11.00 and set an “overweight” rating for the company in a report on Tuesday, February 24th. Weiss Ratings raised MediaAlpha from a “sell (d)” rating to a “hold (c-)” rating in a report on Wednesday, February 25th. The Goldman Sachs Group lowered their price target on MediaAlpha from $13.50 to $11.50 and set a “neutral” rating on the stock in a report on Tuesday, February 24th. Royal Bank Of Canada lowered their price target on MediaAlpha from $18.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Finally, Wall Street Zen lowered MediaAlpha from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 28th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.70.

MediaAlpha Price Performance

Shares of MAX stock traded up $0.23 during trading hours on Tuesday, hitting $9.57. The stock had a trading volume of 271,970 shares, compared to its average volume of 827,160. The firm has a market capitalization of $617.33 million, a PE ratio of 24.54 and a beta of 1.39. MediaAlpha has a twelve month low of $7.09 and a twelve month high of $13.92. The stock’s 50 day moving average is $9.24 and its 200 day moving average is $11.09.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Monday, February 23rd. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.25. The business had revenue of $291.16 million during the quarter, compared to the consensus estimate of $296.42 million. MediaAlpha had a negative return on equity of 132.73% and a net margin of 2.30%.The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share. As a group, equities analysts predict that MediaAlpha will post 0.48 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Kuanling Amy Yeh sold 3,000 shares of the stock in a transaction on Friday, March 27th. The stock was sold at an average price of $9.44, for a total transaction of $28,320.00. Following the completion of the sale, the chief technology officer directly owned 577,879 shares of the company’s stock, valued at $5,455,177.76. This trade represents a 0.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Keith Cramer sold 10,000 shares of the stock in a transaction on Monday, March 16th. The stock was sold at an average price of $9.89, for a total value of $98,900.00. Following the sale, the executive directly owned 306,754 shares of the company’s stock, valued at approximately $3,033,797.06. This represents a 3.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 494,189 shares of company stock valued at $5,001,235 over the last three months. 13.44% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MediaAlpha

Several hedge funds have recently modified their holdings of MAX. Millennium Management LLC lifted its holdings in shares of MediaAlpha by 680.9% during the third quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock worth $16,268,000 after purchasing an additional 1,246,493 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of MediaAlpha by 1,261.9% during the third quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock worth $8,089,000 after purchasing an additional 658,625 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of MediaAlpha by 95.2% during the third quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company’s stock worth $12,045,000 after purchasing an additional 516,195 shares during the period. Lazard Asset Management LLC acquired a new stake in MediaAlpha in the second quarter valued at $4,268,000. Finally, Lighthouse Investment Partners LLC lifted its holdings in MediaAlpha by 831.7% in the third quarter. Lighthouse Investment Partners LLC now owns 353,930 shares of the company’s stock valued at $4,028,000 after acquiring an additional 315,943 shares during the period. 64.39% of the stock is owned by institutional investors and hedge funds.

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.