MediaAlpha (NYSE:MAX) PT Raised to $30.00 at Canaccord Genuity Group

MediaAlpha (NYSE:MAX) had its target price boosted by Canaccord Genuity Group from $25.00 to $30.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 35.87% from the company’s current price.

A number of other equities research analysts also recently commented on the company. BMO Capital Markets upgraded MediaAlpha from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $9.00 to $28.00 in a report on Monday, February 26th. Royal Bank of Canada increased their price target on shares of MediaAlpha from $12.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. TD Cowen started coverage on shares of MediaAlpha in a report on Wednesday, January 10th. They set an “outperform” rating and a $15.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their price target on shares of MediaAlpha from $18.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.50.

MediaAlpha Trading Up 4.8 %

Shares of NYSE:MAX traded up $1.02 during trading on Thursday, hitting $22.08. 1,285,910 shares of the company’s stock were exchanged, compared to its average volume of 304,536. The firm has a market cap of $1.45 billion, a P/E ratio of -25.12 and a beta of 1.32. The firm has a 50-day moving average price of $19.80 and a two-hundred day moving average price of $14.21. MediaAlpha has a 1-year low of $5.08 and a 1-year high of $25.78.

MediaAlpha (NYSE:MAX) last released its earnings results on Wednesday, May 1st. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09. The business had revenue of $126.60 million for the quarter, compared to analyst estimates of $111.17 million. MediaAlpha’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.23) EPS. As a group, research analysts predict that MediaAlpha will post -0.4 EPS for the current year.

Insiders Place Their Bets

In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.85, for a total value of $58,557,500.00. Following the completion of the transaction, the insider now directly owns 50,000 shares in the company, valued at $992,500. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MAX. Norden Group LLC lifted its holdings in shares of MediaAlpha by 1,767.2% during the first quarter. Norden Group LLC now owns 263,592 shares of the company’s stock worth $5,369,000 after buying an additional 249,475 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in MediaAlpha in the 4th quarter worth about $1,364,000. Mariner LLC raised its stake in MediaAlpha by 449.2% in the 3rd quarter. Mariner LLC now owns 76,060 shares of the company’s stock worth $628,000 after purchasing an additional 62,210 shares in the last quarter. Hartline Investment Corp bought a new stake in MediaAlpha in the 1st quarter valued at about $463,000. Finally, Hsbc Holdings PLC acquired a new position in shares of MediaAlpha during the 3rd quarter worth approximately $172,000. 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.