MediaAlpha (NYSE:MAX) Trading Up 7.7%

MediaAlpha, Inc. (NYSE:MAX)’s stock price traded up 7.7% on Monday . The company traded as high as $18.17 and last traded at $18.08. 297,077 shares were traded during mid-day trading, a decline of 48% from the average session volume of 576,701 shares. The stock had previously closed at $16.79.

Analysts Set New Price Targets

Several research analysts recently issued reports on MAX shares. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $26.00 price target (up from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. Royal Bank of Canada lifted their target price on shares of MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. The Goldman Sachs Group started coverage on MediaAlpha in a research note on Tuesday, August 20th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, TD Cowen lowered MediaAlpha from a “buy” rating to a “hold” rating and reduced their price objective for the company from $19.00 to $13.00 in a research report on Wednesday, June 26th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.29.

MediaAlpha Stock Up 7.6 %

The stock has a market cap of $1.19 billion, a PE ratio of -26.40 and a beta of 1.22. The stock’s fifty day moving average price is $15.36 and its 200 day moving average price is $17.69.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.02 by $0.05. The business had revenue of $178.27 million for the quarter, compared to analysts’ expectations of $151.40 million. The business’s revenue for the quarter was up 110.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.32) earnings per share. On average, equities research analysts expect that MediaAlpha, Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MediaAlpha

A number of hedge funds have recently added to or reduced their stakes in MAX. Point72 DIFC Ltd purchased a new position in shares of MediaAlpha in the 2nd quarter worth $65,000. Sandia Investment Management LP purchased a new position in MediaAlpha in the second quarter worth about $79,000. EntryPoint Capital LLC purchased a new position in MediaAlpha in the first quarter worth about $136,000. Lazard Asset Management LLC purchased a new stake in shares of MediaAlpha during the 1st quarter valued at about $165,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of MediaAlpha by 354.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock valued at $114,000 after purchasing an additional 6,728 shares during the last quarter. 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.