MediaAlpha (NYSE:MAX) Price Target Raised to $17.00

Key Points

• Keefe, Bruyette & Woods raised MediaAlpha’s price target from $15 to $17 and kept an outperform rating, implying about 25% upside from the current price.
• The stock was down 0.7% on Wednesday to $13.57, even after the higher target. MediaAlpha remains below its 52-week high of $14.39 but well above its 52-week low of $7.09.
• Recent results showed mixed fundamentals: MediaAlpha beat revenue expectations at $310 million, but missed EPS estimates with $0.21 versus $0.25 expected. Analysts overall still rate the stock Moderate Buy with a consensus target of $12.64.

MediaAlpha (NYSE:MAX - Get Free Report) had its price target lifted by analysts at Keefe, Bruyette & Woods from $15.00 to $17.00 in a report released on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' price objective suggests a potential upside of 25.23% from the stock's current price.

Other research analysts have also issued reports about the company. Weiss Ratings upgraded MediaAlpha from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, July 1st. Wall Street Zen cut MediaAlpha from a "buy" rating to a "hold" rating in a report on Saturday. TD Cowen reduced their price target on shares of MediaAlpha from $13.00 to $11.00 and set a "hold" rating on the stock in a research report on Tuesday, June 23rd. Capital One Financial set a $11.00 price objective on shares of MediaAlpha in a report on Tuesday, June 9th. Finally, Texas Capital upgraded shares of MediaAlpha to a "strong-buy" rating in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $12.64.

MediaAlpha Stock Down 0.7%

MediaAlpha stock traded down $0.10 on Wednesday, hitting $13.57. The company's stock had a trading volume of 169,382 shares, compared to its average volume of 737,277. MediaAlpha has a one year low of $7.09 and a one year high of $14.39. The firm has a market cap of $846.40 million, a P/E ratio of 21.16 and a beta of 1.08. The company has a fifty day moving average price of $9.82 and a 200-day moving average price of $10.03.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its earnings results on Wednesday, April 29th. The company reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). The business had revenue of $310.00 million during the quarter, compared to the consensus estimate of $298.91 million. MediaAlpha had a net margin of 3.37% and a negative return on equity of 147.82%. The business's revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.04) EPS. Analysts anticipate that MediaAlpha will post 0.97 EPS for the current year.

Insider Transactions at MediaAlpha

In other news, Director Eugene Nonko sold 4,512 shares of the company's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $12.77, for a total transaction of $57,618.24. Following the transaction, the director owned 940,326 shares of the company's stock, valued at $12,007,963.02. This represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 96,000 shares of MediaAlpha stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $12.90, for a total value of $1,238,400.00. Following the completion of the sale, the insider owned 2,759,690 shares of the company's stock, valued at approximately $35,600,001. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 626,396 shares of company stock worth $6,533,382 over the last 90 days. 14.65% of the stock is owned by insiders.

Hedge Funds Weigh In On MediaAlpha

Hedge funds and other institutional investors have recently bought and sold shares of the business. Glenmede Trust Co. NA acquired a new position in shares of MediaAlpha in the 1st quarter valued at $122,000. Bank of America Corp DE grew its stake in shares of MediaAlpha by 380.9% during the first quarter. Bank of America Corp DE now owns 279,704 shares of the company's stock worth $2,601,000 after purchasing an additional 221,540 shares during the period. Amundi increased its holdings in MediaAlpha by 33.2% in the first quarter. Amundi now owns 78,104 shares of the company's stock valued at $726,000 after purchasing an additional 19,488 shares during the last quarter. Stoic Point Capital Management LLC increased its holdings in MediaAlpha by 6.6% in the first quarter. Stoic Point Capital Management LLC now owns 221,041 shares of the company's stock valued at $2,056,000 after purchasing an additional 13,743 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in MediaAlpha by 150.9% in the first 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 during the period. 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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