MediaAlpha’s (MAX) Outperform Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their outperform rating on shares of MediaAlpha (NYSE:MAX) in a research report released on Thursday, Benzinga reports. Keefe, Bruyette & Woods currently has a $26.00 price objective on the stock, up from their prior price objective of $25.00.

A number of other equities research analysts also recently commented on the company. Canaccord Genuity Group lifted their target price on MediaAlpha from $25.00 to $30.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Royal Bank of Canada raised their target price on shares of MediaAlpha from $18.00 to $23.00 and gave the stock an outperform rating in a research report on Tuesday, May 28th. JPMorgan Chase & Co. lifted their price objective on shares of MediaAlpha from $18.00 to $30.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. Finally, TD Cowen cut shares of MediaAlpha from a buy rating to a hold rating and lowered their price target for the stock from $19.00 to $13.00 in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $25.00.

MediaAlpha Stock Performance

Shares of MAX stock traded down $0.28 during trading hours on Thursday, reaching $16.15. The company had a trading volume of 467,812 shares, compared to its average volume of 566,123. The business has a fifty day moving average price of $15.32 and a 200-day moving average price of $17.12. MediaAlpha has a one year low of $7.62 and a one year high of $25.78. The firm has a market cap of $1.06 billion, a PE ratio of -23.84 and a beta of 1.20.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. The business had revenue of $178.27 million during the quarter, compared to the consensus estimate of $151.40 million. The company’s revenue for the quarter was up 110.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.32) EPS. Equities research analysts forecast that MediaAlpha will post 0.13 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $19.00, for a total transaction of $49,206,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $19.00, for a total transaction of $49,206,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of MediaAlpha stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $19.00, for a total value of $95,003,800.00. Following the completion of the transaction, the insider now directly owns 17,856,614 shares of the company’s stock, valued at $339,275,666. The disclosure for this sale can be found here. Corporate insiders own 11.53% of the company’s stock.

Institutional Investors Weigh In On MediaAlpha

A number of institutional investors and hedge funds have recently made changes to their positions in MAX. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in MediaAlpha by 5.1% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,890 shares of the company’s stock worth $315,000 after acquiring an additional 1,150 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of MediaAlpha by 9.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock valued at $292,000 after acquiring an additional 1,235 shares during the period. Silvercrest Asset Management Group LLC boosted its holdings in MediaAlpha by 0.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 375,509 shares of the company’s stock worth $7,649,000 after buying an additional 1,667 shares during the period. Tower Research Capital LLC TRC lifted its stake in MediaAlpha by 111.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock worth $50,000 after purchasing an additional 2,343 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in MediaAlpha by 7.3% in the 2nd quarter. Rhumbline Advisers now owns 36,751 shares of the company’s stock worth $484,000 after purchasing an additional 2,511 shares in the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.