MediaAlpha (NYSE:MAX) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded MediaAlpha from “strong sell” to “hold,” while the broader analyst consensus is “Moderate Buy” with an average price target of $14.29.
• MediaAlpha shares opened at $12.87, near the 50-day moving average, with a 52-week range of $7.09 to $14.70 and a market capitalization of approximately $788 million.
• The company reported quarterly earnings of $0.65 per share, exceeding the $0.23 consensus estimate, while revenue of $316.88 million also topped expectations.

MediaAlpha (NYSE:MAX - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Monday,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Weiss Ratings raised shares of MediaAlpha from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, July 1st. Capital One Financial set a $11.00 target price on shares of MediaAlpha in a report on Tuesday, June 9th. Texas Capital upgraded MediaAlpha to a "strong-buy" rating in a research report on Tuesday, June 9th. The Goldman Sachs Group raised their price target on MediaAlpha from $10.00 to $14.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. Finally, Royal Bank Of Canada lifted their price target on MediaAlpha from $11.00 to $15.00 and gave the company an "outperform" rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, MediaAlpha has an average rating of "Moderate Buy" and an average price target of $14.29.

MediaAlpha Stock Up 0.5%

NYSE MAX opened at $12.87 on Monday. The company has a market cap of $788.23 million, a PE ratio of 7.94 and a beta of 1.11. MediaAlpha has a 52 week low of $7.09 and a 52 week high of $14.70. The firm's 50-day simple moving average is $12.85 and its two-hundred day simple moving average is $10.45.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.42. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. The firm had revenue of $316.88 million during the quarter, compared to the consensus estimate of $300.87 million. As a group, equities research analysts anticipate that MediaAlpha will post 0.97 EPS for the current year.

Insider Activity at MediaAlpha

In other MediaAlpha news, insider Steven Yi sold 96,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $12.90, for a total value of $1,238,400.00. Following the sale, the insider directly owned 2,759,690 shares in the company, valued at $35,600,001. This represents a 3.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Keith Cramer sold 13,000 shares of the firm's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $9.47, for a total transaction of $123,110.00. Following the completion of the transaction, the executive directly owned 280,528 shares of the company's stock, valued at approximately $2,656,600.16. The trade was a 4.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 567,700 shares of company stock valued at $7,167,531. Corporate insiders own 14.65% of the company's stock.

Institutional Investors Weigh In On MediaAlpha

Large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its position in MediaAlpha by 94.1% during the first quarter. Dimensional Fund Advisors LP now owns 620,669 shares of the company's stock valued at $5,773,000 after purchasing an additional 300,871 shares during the last quarter. Jacobs Asset Management LLC grew its stake in MediaAlpha by 31.1% in the 1st quarter. Jacobs Asset Management LLC now owns 924,443 shares of the company's stock worth $8,597,000 after buying an additional 219,144 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of MediaAlpha by 288.7% in the 1st quarter. Principal Financial Group Inc. now owns 137,613 shares of the company's stock worth $1,280,000 after buying an additional 102,210 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of MediaAlpha by 24.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company's stock worth $9,876,000 after buying an additional 206,077 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of MediaAlpha by 150.9% during the 1st quarter. Quantinno Capital Management LP now owns 107,274 shares of the company's stock valued at $998,000 after buying an additional 64,526 shares in the last quarter. Institutional investors own 64.39% of the company's stock.

About MediaAlpha

MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company's platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.

The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.

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