MediaAlpha, Inc. (NYSE:MAX) Receives $25.14 Consensus Target Price from Brokerages

MediaAlpha, Inc. (NYSE:MAX) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One 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 brokerages that have updated their coverage on the stock in the last year is $25.14.

Separately, The Goldman Sachs Group lifted their price objective on MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 1st.

MediaAlpha Price Performance

MediaAlpha stock opened at $12.63 on Wednesday. The stock has a market capitalization of $841.97 million, a P/E ratio of 74.29 and a beta of 1.23. MediaAlpha has a 12-month low of $9.76 and a 12-month high of $25.78. The firm’s 50-day moving average is $16.09 and its two-hundred day moving average is $16.16.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $259.13 million for the quarter, compared to analyst estimates of $246.96 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. As a group, analysts forecast that MediaAlpha will post 0.42 EPS for the current year.

Insider Buying and Selling at MediaAlpha

In other news, insider Eugene Nonko sold 72,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the completion of the sale, the insider now owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. The trade was a 4.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.53% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. raised its position in MediaAlpha by 100.1% in the third quarter. Franklin Resources Inc. now owns 128,604 shares of the company’s stock valued at $2,432,000 after purchasing an additional 64,331 shares during the period. Barclays PLC grew its stake in shares of MediaAlpha by 423.2% in the third quarter. Barclays PLC now owns 66,525 shares of the company’s stock valued at $1,204,000 after buying an additional 53,809 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of MediaAlpha by 28.9% during the 3rd quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock valued at $12,509,000 after buying an additional 154,637 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in MediaAlpha during the 3rd quarter worth approximately $707,000. Finally, XTX Topco Ltd purchased a new position in MediaAlpha in the 3rd quarter worth approximately $409,000. 64.39% of the stock is owned by institutional investors and hedge funds.

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.