MediaAlpha, Inc. (NYSE:MAX) Given Consensus Recommendation of “Buy” by Brokerages

Shares of MediaAlpha, Inc. (NYSE:MAX) have been assigned an average recommendation of “Buy” from the eleven research firms that are covering the company, reports. Four equities research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $45.50.

Several equities analysts have recently commented on MAX shares. Zacks Investment Research upgraded MediaAlpha from a “sell” rating to a “hold” rating in a research note on Thursday. Royal Bank of Canada lowered their price target on MediaAlpha from $65.00 to $41.00 and set an “outperform” rating for the company in a report on Wednesday, August 18th. Canaccord Genuity lowered their price target on MediaAlpha from $70.00 to $65.00 and set a “buy” rating for the company in a report on Friday, August 13th. They noted that the move was a valuation call. Finally, Wolfe Research started coverage on MediaAlpha in a report on Monday, August 16th. They set a “peer perform” rating and a $30.00 target price for the company.

In other MediaAlpha news, insider Jeff Sweetser sold 11,446 shares of the firm’s stock in a transaction on Tuesday, August 3rd. The stock was sold at an average price of $30.94, for a total transaction of $354,139.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert Perine sold 10,000 shares of the firm’s stock in a transaction on Monday, July 19th. The stock was sold at an average price of $30.49, for a total value of $304,900.00. Following the sale, the vice president now owns 4,000 shares in the company, valued at approximately $121,960. The disclosure for this sale can be found here. Insiders have sold a total of 86,245 shares of company stock valued at $2,311,815 over the last ninety days. 10.21% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of MediaAlpha by 28.1% during the first quarter. BlackRock Inc. now owns 1,140,310 shares of the company’s stock worth $40,400,000 after buying an additional 250,110 shares during the period. Northern Trust Corp lifted its position in MediaAlpha by 45.3% in the first quarter. Northern Trust Corp now owns 190,299 shares of the company’s stock worth $6,742,000 after purchasing an additional 59,317 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of MediaAlpha in the first quarter valued at $312,000. Baker Tilly Wealth Management LLC acquired a new stake in MediaAlpha during the 1st quarter valued at $507,000. Finally, Daiwa Securities Group Inc. raised its stake in MediaAlpha by 28.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 101,986 shares of the company’s stock valued at $4,294,000 after purchasing an additional 22,800 shares during the period. 62.74% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:MAX opened at $19.00 on Thursday. MediaAlpha has a fifty-two week low of $16.39 and a fifty-two week high of $70.33. The firm has a market cap of $1.14 billion and a price-to-earnings ratio of -135.71. The business has a 50-day simple moving average of $21.91 and a two-hundred day simple moving average of $32.59.

MediaAlpha (NYSE:MAX) last released its earnings results on Thursday, August 12th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). The company had revenue of $157.35 million for the quarter, compared to the consensus estimate of $158.38 million. As a group, sell-side analysts anticipate that MediaAlpha will post 0.1 EPS for the current year.

About MediaAlpha

MediaAlpha, Inc, through its subsidiaries, operates insurance customer acquisition platform in the United States. Its real-time customer acquisition and predictive analytics platform allows insurance carriers, distributors, and other clients to acquire customers and optimize customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance.

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Analyst Recommendations for MediaAlpha (NYSE:MAX)

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