MediaAlpha, Inc. (NYSE:MAX) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Analysts maintain a “Moderate Buy” consensus on MediaAlpha, with four buy ratings, one strong buy, three holds and one sell. The average 12-month price target is $13.86, modestly above the reported $13.30 share price.
• MediaAlpha’s latest quarterly results exceeded expectations: earnings were $0.65 per share versus a $0.23 consensus estimate, while revenue reached $316.88 million compared with $300.87 million expected.
• Shares opened at $13.30, near the company’s 52-week high of $14.70, while institutional investors own 64.39% of the stock. Insiders have sold $6.54 million of shares over the past 90 days, primarily through pre-arranged plans to cover tax obligations.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the nine brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $13.8571.

A number of research firms have commented on MAX. JPMorgan Chase & Co. lifted their target price on MediaAlpha from $11.00 to $12.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Keefe, Bruyette & Woods upped their price target on MediaAlpha from $15.00 to $17.00 and gave the company an "outperform" rating in a report on Wednesday, July 8th. Weiss Ratings raised MediaAlpha from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, July 1st. Royal Bank Of Canada lifted their price objective on MediaAlpha from $11.00 to $15.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Finally, Wall Street Zen raised MediaAlpha from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 1st.

MediaAlpha Stock Performance

Shares of NYSE MAX opened at $13.30 on Friday. The firm's 50 day moving average price is $12.29 and its 200-day moving average price is $10.28. The company has a market cap of $814.57 million, a PE ratio of 8.21 and a beta of 1.11. MediaAlpha has a 52-week low of $7.09 and a 52-week high of $14.70.

MediaAlpha (NYSE:MAX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.42. The company had revenue of $316.88 million during the quarter, compared to the consensus estimate of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. On average, analysts forecast that MediaAlpha will post 0.97 earnings per share for the current fiscal year.

Insider Transactions at MediaAlpha

In related news, Director Eugene Nonko sold 3,282 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $12.89, for a total transaction of $42,304.98. Following the transaction, the director owned 842,400 shares in the company, valued at $10,858,536. This represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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, insider Steven Yi sold 72,000 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $12.64, for a total transaction of $910,080.00. Following the completion of the sale, the insider owned 2,387,690 shares in the company, valued at $30,180,401.60. This represents a 2.93% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders have sold 519,726 shares of company stock worth $6,540,242. Insiders own 14.65% of the company's stock.

Hedge Funds Weigh In On MediaAlpha

Several hedge funds and other institutional investors have recently modified their holdings of MAX. Caitong International Asset Management Co. Ltd grew its holdings in shares of MediaAlpha by 5,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company's stock worth $28,000 after acquiring an additional 2,124 shares during the period. Rockefeller Capital Management L.P. lifted its holdings in MediaAlpha by 9,917.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company's stock valued at $36,000 after acquiring an additional 2,777 shares during the period. Strs Ohio bought a new position in MediaAlpha in the fourth quarter valued at about $49,000. Quarry LP boosted its position in MediaAlpha by 43.3% in the third quarter. Quarry LP now owns 4,087 shares of the company's stock worth $47,000 after purchasing an additional 1,234 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in MediaAlpha by 28.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company's stock worth $61,000 after purchasing an additional 1,213 shares during the last quarter. 64.39% of the stock is owned by institutional investors.

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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