MediaAlpha (NYSE:MAX) Price Target Raised to $30.00

MediaAlpha (NYSE:MAX - Free Report) had its price objective increased by Canaccord Genuity Group from $25.00 to $30.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also commented on MAX. JPMorgan Chase & Co. boosted their price objective on MediaAlpha from $18.00 to $30.00 and gave the stock an overweight rating in a research note on Thursday. TD Cowen started coverage on MediaAlpha in a research report on Wednesday, January 10th. They set an outperform rating and a $15.00 price target for the company. Royal Bank of Canada increased their price objective on MediaAlpha from $12.00 to $18.00 and gave the company an outperform rating in a research note on Wednesday, February 21st. Finally, BMO Capital Markets raised shares of MediaAlpha from a market perform rating to an outperform rating and lifted their target price for the stock from $9.00 to $28.00 in a research note on Monday, February 26th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $21.50.

MediaAlpha Stock Performance

MediaAlpha stock traded up $1.05 during trading on Thursday, reaching $22.11. The company had a trading volume of 1,285,860 shares, compared to its average volume of 308,620. The firm has a market capitalization of $1.45 billion, a PE ratio of -25.12 and a beta of 1.32. The firm's 50-day simple moving average is $19.80 and its 200 day simple moving average is $14.21. MediaAlpha has a 1-year low of $5.08 and a 1-year high of $25.78.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.09. The company had revenue of $126.60 million for the quarter, compared to analysts' expectations of $111.17 million. The business's revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.23) earnings per share. Analysts anticipate that MediaAlpha will post -0.4 EPS for the current year.

Insider Activity at MediaAlpha

In related news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of MediaAlpha stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.85, for a total transaction of $58,557,500.00. Following the transaction, the insider now owns 50,000 shares in the company, valued at $992,500. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 11.53% of the company's stock.

Institutional Investors Weigh In On MediaAlpha

Several hedge funds and other institutional investors have recently bought and sold shares of MAX. Allspring Global Investments Holdings LLC grew its position in MediaAlpha by 305.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 16,404 shares of the company's stock worth $135,000 after acquiring an additional 12,355 shares during the period. Swiss National Bank grew its holdings in shares of MediaAlpha by 4.6% during the 3rd quarter. Swiss National Bank now owns 45,400 shares of the company's stock worth $375,000 after purchasing an additional 2,000 shares during the period. Alliance Wealth Advisors LLC UT acquired a new stake in shares of MediaAlpha during the 3rd quarter worth about $84,000. Hsbc Holdings PLC acquired a new stake in shares of MediaAlpha during the 3rd quarter worth about $172,000. Finally, Mariner LLC raised its holdings in MediaAlpha by 449.2% in the 3rd quarter. Mariner LLC now owns 76,060 shares of the company's stock valued at $628,000 after buying an additional 62,210 shares during the period. 64.39% of the stock is currently owned by institutional investors and hedge funds.

About MediaAlpha

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.