Zacks Research Upgrades MediaAlpha (NYSE:MAX) to Strong-Buy

by · The Markets Daily

MediaAlpha (NYSE:MAX – Get Free Report) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday, Zacks reports.

Other equities analysts also recently issued research reports about the company. Canaccord Genuity Group raised their target price on MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. TD Cowen decreased their price objective on MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, June 23rd. Royal Bank Of Canada upped their target price on shares of MediaAlpha from $11.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. initiated coverage on shares of MediaAlpha in a research note on Monday, August 24th. They issued a “neutral” rating and a $15.00 price target on the stock. Finally, Capital One Financial set a $11.00 price objective on shares of MediaAlpha in a report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $14.29.

Get Our Latest Analysis on MediaAlpha

MediaAlpha Stock Performance

MAX stock opened at $9.37 on Tuesday. The firm has a market cap of $574.10 million, a PE ratio of 5.78 and a beta of 1.16. The firm’s fifty day moving average is $12.53 and its 200 day moving average is $10.89. MediaAlpha has a one year low of $7.09 and a one year high of $14.70.

MediaAlpha (NYSE:MAX – Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.42. The company had revenue of $316.88 million during the quarter, compared to analysts’ expectations of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. Research analysts predict that MediaAlpha will post 1.28 earnings per share for the current fiscal year.

Insider Transactions at MediaAlpha

In related news, insider Steven Yi sold 96,000 shares of the stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $12.90, for a total transaction of $1,238,400.00. Following the transaction, the insider owned 2,759,690 shares of the company’s stock, valued at approximately $35,600,001. This represents a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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, CTO Kuanling Yeh sold 12,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $13.55, for a total value of $162,600.00. Following the transaction, the chief technology officer owned 541,985 shares of the company’s stock, valued at $7,343,896.75. This trade represents a 2.17% decrease in their ownership of the stock. 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 618,468 shares of company stock valued at $8,000,539. Corporate insiders own 14.65% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MAX. Triad Investment Management boosted its position in MediaAlpha by 10.4% in the 2nd quarter. Triad Investment Management now owns 368,731 shares of the company’s stock valued at $4,635,000 after buying an additional 34,867 shares during the period. Squarepoint Ops LLC grew its stake in shares of MediaAlpha by 8.7% in the second quarter. Squarepoint Ops LLC now owns 234,255 shares of the company’s stock worth $2,945,000 after acquiring an additional 18,714 shares in the last quarter. Corient Private Wealth LP increased its position in shares of MediaAlpha by 50.7% during the second quarter. Corient Private Wealth LP now owns 23,451 shares of the company’s stock worth $295,000 after acquiring an additional 7,892 shares during the period. AXQ Capital LP purchased a new stake in shares of MediaAlpha during the second quarter worth $316,000. Finally, Globeflex Capital L P acquired a new stake in shares of MediaAlpha in the second quarter valued at $702,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

MediaAlpha Company Profile

(Get Free Report)

MediaAlpha, Inc operates a technology platform that connects consumers seeking insurance and other financial products with providers seeking qualified customer leads. Its marketplace uses data, analytics and real-time bidding technology to help carriers, agencies and other distributors acquire customers across digital channels.

The company’s platform primarily supports the marketing and distribution of insurance products, including property and casualty, health and life insurance. MediaAlpha provides tools for managing customer acquisition campaigns, matching consumer inquiries with relevant providers, and optimizing marketing performance across search, display and other online channels.

MediaAlpha was founded in 2014 and is headquartered in Los Angeles, California.

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