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MediaAlpha, Inc. (NYSE:MAX) Given Consensus Recommendation of "Buy" by Brokerages

MediaAlpha logo with Business Services background

Key Points

  • MediaAlpha, Inc. has received a consensus recommendation of "Buy" from six various brokerages, with an average target price of $17.92 per share.
  • Institutional investors have significantly increased their holdings, with GAMMA Investing LLC growing its stake by 8,775.8% recently.
  • The stock is currently trading at $9.84, down 1.8%, with a 12-month range between a low of $7.33 and a high of $20.91.
  • MarketBeat previews the top five stocks to own by September 1st.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) has been given a consensus recommendation of "Buy" by the six ratings firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have covered the stock in the last year is $17.92.

A number of analysts have recently issued reports on the company. The Goldman Sachs Group lowered their price target on MediaAlpha from $14.00 to $12.50 and set a "buy" rating on the stock in a research note on Monday, April 14th. Keefe, Bruyette & Woods decreased their price objective on MediaAlpha from $19.00 to $16.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lifted their target price on shares of MediaAlpha from $10.00 to $12.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Finally, Royal Bank Of Canada reduced their target price on shares of MediaAlpha from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th.

View Our Latest Analysis on MAX

Institutional Investors Weigh In On MediaAlpha

Hedge funds and other institutional investors have recently made changes to their positions in the stock. 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. Covestor Ltd boosted its position in shares of MediaAlpha by 44.1% during the 4th quarter. Covestor Ltd now owns 2,766 shares of the company's stock valued at $31,000 after acquiring an additional 847 shares during the last quarter. Virtus Fund Advisers LLC purchased a new stake in shares of MediaAlpha in the fourth quarter valued at about $35,000. Quarry LP increased its position in MediaAlpha by 107.1% during the fourth quarter. Quarry LP now owns 5,841 shares of the company's stock worth $66,000 after purchasing an additional 3,021 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in MediaAlpha during the fourth quarter worth about $67,000. Institutional investors and hedge funds own 64.39% of the company's stock.

MediaAlpha Trading Down 1.8%

NYSE:MAX opened at $9.84 on Monday. The stock has a 50 day moving average of $10.56 and a two-hundred day moving average of $10.10. MediaAlpha has a 12 month low of $7.33 and a 12 month high of $20.91. The firm has a market cap of $659.58 million, a P/E ratio of 35.14 and a beta of 1.19.

MediaAlpha Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for MediaAlpha (NYSE:MAX)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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