MediaAlpha (NYSE:MAX) Price Target Raised to $17.00

MediaAlpha (NYSE:MAX) had its target price lifted by Keefe, Bruyette & Woods from $15.00 to $17.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts also recently commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of MediaAlpha from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Zacks Research cut shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Weiss Ratings upgraded shares of MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 1st. Capital One Financial set a $11.00 price target on MediaAlpha in a report on Tuesday, June 9th. Finally, Texas Capital raised MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, MediaAlpha has an average rating of “Moderate Buy” and an average price target of $12.64.

MediaAlpha Stock Down 0.7%

NYSE:MAX opened at $13.36 on Wednesday. MediaAlpha has a twelve month low of $7.09 and a twelve month high of $14.39. The firm has a market capitalization of $833.06 million, a price-to-earnings ratio of 20.88 and a beta of 1.08. The stock’s 50 day moving average price is $10.03 and its two-hundred day moving average price is $10.06.

MediaAlpha (NYSE:MAX) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The company had revenue of $310.00 million during the quarter, compared to analyst estimates of $298.91 million. MediaAlpha had a net margin of 3.37% and a negative return on equity of 147.82%. The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.04) EPS. As a group, analysts anticipate that MediaAlpha will post 0.97 earnings per share for the current year.

Insider Buying and Selling at MediaAlpha

In other news, insider Steven Yi sold 96,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $12.90, for a total value of $1,238,400.00. Following the transaction, the insider directly owned 2,759,690 shares of the company’s stock, valued at $35,600,001. This represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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, Director Eugene Nonko sold 49,844 shares of the firm’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $10.04, for a total transaction of $500,433.76. Following the sale, the director owned 1,329,099 shares of the company’s stock, valued at approximately $13,344,153.96. This represents a 3.61% decrease in their position. 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 quarter, insiders sold 743,424 shares of company stock worth $8,179,296. Corporate insiders own 14.65% of the company’s stock.

Institutional Investors Weigh In On MediaAlpha

A number of institutional investors have recently made changes to their positions in MAX. Glenmede Trust Co. NA acquired a new position in shares of MediaAlpha in the first quarter valued at approximately $122,000. Bank of America Corp DE boosted its stake in MediaAlpha by 380.9% in 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 period. Amundi boosted its stake in MediaAlpha by 33.2% in 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 period. Stoic Point Capital Management LLC grew its holdings in MediaAlpha by 6.6% in the 1st quarter. Stoic Point Capital Management LLC now owns 221,041 shares of the company’s stock valued at $2,056,000 after buying an additional 13,743 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in MediaAlpha by 150.9% during the 1st quarter. Quantinno Capital Management LP now owns 107,274 shares of the company’s stock worth $998,000 after buying an additional 64,526 shares during the period. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Company Profile

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.