MediaAlpha (NYSE:MAX) Price Target Raised to $18.00

Key Points

• Keefe, Bruyette & Woods has increased the price target for MediaAlpha (NYSE:MAX) from $17.00 to $18.00, indicating a potential upside of 50.58% from the stock's previous close.
• Despite this upgrade, Wall Street Zen downgraded the stock from a "buy" to a "hold" rating, while the consensus rating remains a "buy" with a price target of $18.25.
• MediaAlpha reported earnings of $0.17 per share for the last quarter, exceeding expectations and showing a significant year-over-year revenue growth of 41.1%.

MediaAlpha (NYSE:MAX - Get Free Report) had its target price boosted by equities research analysts at Keefe, Bruyette & Woods from $17.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price points to a potential upside of 38.63% from the stock's current price.

Separately, Wall Street Zen cut shares of MediaAlpha from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, MediaAlpha currently has an average rating of "Buy" and a consensus price target of $18.25.

MediaAlpha Trading Down 2.4%

Shares of MAX traded down $0.32 during mid-day trading on Friday, hitting $12.98. The company's stock had a trading volume of 429,748 shares, compared to its average volume of 514,343. The company's 50-day moving average is $10.57 and its 200-day moving average is $9.91. MediaAlpha has a 52-week low of $7.33 and a 52-week high of $20.91. The firm has a market capitalization of $882.18 million, a price-to-earnings ratio of -108.13 and a beta of 1.19.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. MediaAlpha had a negative net margin of 0.61% and a negative return on equity of 62.53%. The company had revenue of $251.62 million during the quarter, compared to analysts' expectations of $248.80 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. MediaAlpha's revenue for the quarter was up 41.1% compared to the same quarter last year. As a group, sell-side analysts predict that MediaAlpha will post 0.48 earnings per share for the current fiscal year.

Insider Buying and Selling at MediaAlpha

In other news, Director Kathy P. Vrabeck purchased 31,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average cost of $9.60 per share, for a total transaction of $297,600.00. Following the completion of the transaction, the director owned 129,657 shares of the company's stock, valued at $1,244,707.20. This trade represents a 31.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Keith Cramer sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $9.73, for a total value of $194,600.00. Following the sale, the executive owned 167,200 shares of the company's stock, valued at $1,626,856. The trade was a 10.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,669 shares of company stock valued at $297,873. 11.53% of the stock is owned by insiders.

Institutional Trading of MediaAlpha

Several large investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in MediaAlpha by 8,775.8% in the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock valued at $27,000 after buying an additional 2,896 shares in the last quarter. Virtus Fund Advisers LLC purchased a new stake in MediaAlpha in the 4th quarter valued at $35,000. Tower Research Capital LLC TRC grew its holdings in MediaAlpha by 28.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company's stock valued at $61,000 after buying an additional 1,213 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in MediaAlpha in the 2nd quarter valued at $62,000. Finally, Arizona State Retirement System purchased a new stake in MediaAlpha in the 1st quarter valued at $95,000. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

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.