MediaAlpha, Inc. (NYSE:MAX) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of MediaAlpha, Inc. (NYSE:MAX) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. One research 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 analysts that have covered the stock in the last year is $24.29.

A number of research firms recently commented on MAX. The Goldman Sachs Group initiated coverage on MediaAlpha in a report on Tuesday, August 20th. They issued a “buy” rating and a $20.00 price objective on the stock. Royal Bank of Canada raised their price target on shares of MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $26.00 price objective (up from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. Finally, TD Cowen downgraded shares of MediaAlpha from a “buy” rating to a “hold” rating and lowered their target price for the stock from $19.00 to $13.00 in a research report on Wednesday, June 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in MediaAlpha during the first quarter valued at about $1,118,000. Norden Group LLC boosted its stake in MediaAlpha by 1,767.2% during the 1st quarter. Norden Group LLC now owns 263,592 shares of the company’s stock valued at $5,369,000 after purchasing an additional 249,475 shares during the period. Nomura Holdings Inc. acquired a new stake in MediaAlpha in the 4th quarter valued at approximately $1,364,000. Vanguard Group Inc. increased its position in MediaAlpha by 15.0% in the 1st quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock worth $43,168,000 after buying an additional 276,641 shares during the period. Finally, TimesSquare Capital Management LLC acquired a new position in shares of MediaAlpha during the first quarter worth approximately $22,181,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

MediaAlpha Stock Up 1.4 %

MediaAlpha stock opened at $17.73 on Friday. MediaAlpha has a 12 month low of $7.70 and a 12 month high of $25.78. The stock has a market cap of $1.17 billion, a P/E ratio of -26.09 and a beta of 1.22. The company’s fifty day simple moving average is $16.13 and its 200-day simple moving average is $17.52.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The firm had revenue of $178.27 million during the quarter, compared to analysts’ expectations of $151.40 million. During the same quarter last year, the firm earned ($0.32) EPS. The business’s revenue for the quarter was up 110.3% compared to the same quarter last year. On average, equities research analysts expect that MediaAlpha will post 0.35 earnings per share for the current fiscal year.

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.