MediaAlpha’s (MAX) Outperform Rating Reaffirmed at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reissued their outperform rating on shares of MediaAlpha (NYSE:MAX) in a research report report published on Thursday, Benzinga reports. The brokerage currently has a $26.00 price objective on the stock, up from their prior price objective of $25.00.

Several other research analysts have also recently issued reports on MAX. Royal Bank of Canada increased their target price on shares of MediaAlpha from $18.00 to $23.00 and gave the stock an outperform rating in a report on Tuesday, May 28th. JPMorgan Chase & Co. lifted their target price on shares of MediaAlpha from $18.00 to $30.00 and gave the stock an overweight rating in a research note on Thursday, May 2nd. TD Cowen lowered shares of MediaAlpha from a buy rating to a hold rating and reduced their price target for the stock from $19.00 to $13.00 in a research report on Wednesday, June 26th. Finally, Canaccord Genuity Group raised their price target on shares of MediaAlpha from $25.00 to $30.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $25.00.

MediaAlpha Stock Performance

Shares of MAX traded down $0.28 during mid-day trading on Thursday, reaching $16.15. The stock had a trading volume of 467,812 shares, compared to its average volume of 566,123. The business has a fifty day moving average of $15.32 and a 200 day moving average of $17.12. MediaAlpha has a 12 month low of $7.62 and a 12 month high of $25.78. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of -23.84 and a beta of 1.20.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $178.27 million for the quarter, compared to analysts’ expectations of $151.40 million. MediaAlpha’s revenue for the quarter was up 110.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.32) EPS. On average, research analysts forecast that MediaAlpha will post 0.13 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $19.00, for a total transaction of $95,003,800.00. Following the completion of the sale, the insider now directly owns 17,856,614 shares of the company’s stock, valued at approximately $339,275,666. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $19.00, for a total transaction of $95,003,800.00. Following the completion of the sale, the insider now owns 17,856,614 shares in the company, valued at approximately $339,275,666. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $19.00, for a total transaction of $49,206,200.00. The disclosure for this sale can be found here. 11.53% of the stock is currently owned by company insiders.

Institutional Trading of MediaAlpha

A number of hedge funds and other institutional investors have recently bought and sold shares of MAX. Tower Research Capital LLC TRC boosted its position in MediaAlpha by 111.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock worth $50,000 after purchasing an additional 2,343 shares during the period. EntryPoint Capital LLC purchased a new position in shares of MediaAlpha during the first quarter worth approximately $136,000. Lazard Asset Management LLC purchased a new position in shares of MediaAlpha in the first quarter worth $165,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of MediaAlpha by 354.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock worth $114,000 after buying an additional 6,728 shares during the period. Finally, SYSTM Wealth Solutions LLC bought a new stake in MediaAlpha in the first quarter valued at $178,000. 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.