MediaAlpha (NYSE:MAX) Price Target Raised to $26.00

MediaAlpha (NYSE:MAX) had its price target raised by The Goldman Sachs Group from $20.00 to $26.00 in a research report sent to investors on Friday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and issued a $26.00 target price (up from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.14.

MediaAlpha Price Performance

NYSE:MAX opened at $16.08 on Friday. MediaAlpha has a one year low of $8.55 and a one year high of $25.78. The company has a market cap of $1.07 billion, a PE ratio of 94.59 and a beta of 1.23. The firm has a 50-day moving average of $18.01 and a 200-day moving average of $17.18.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $259.13 million during the quarter, compared to the consensus estimate of $246.96 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.03%. On average, equities research analysts expect that MediaAlpha will post 0.35 earnings per share for the current fiscal year.

Insider Activity at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the completion of the sale, the insider now directly owns 1,550,990 shares in the company, valued at $32,058,963.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 11.53% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in MediaAlpha by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock valued at $43,168,000 after buying an additional 276,641 shares during the period. Driehaus Capital Management LLC raised its stake in shares of MediaAlpha by 208.4% during the second quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock valued at $18,920,000 after acquiring an additional 970,840 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of MediaAlpha during the first quarter worth about $22,181,000. Divisadero Street Capital Management LP purchased a new stake in shares of MediaAlpha during the second quarter worth about $7,956,000. Finally, Emerald Advisers LLC grew its stake in shares of MediaAlpha by 51,407.5% in the second quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock worth $7,882,000 after purchasing an additional 597,355 shares during the last quarter. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Company Profile

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.