Brokerages Set MediaAlpha, Inc. (NYSE:MAX) Price Target at $17.92

by · The Markets Daily

Shares of MediaAlpha, Inc. (NYSE:MAX – Get Free Report) have earned an average rating of “Buy” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation. The average 1-year target price among brokers that have covered the stock in the last year is $17.92.

A number of research analysts recently issued reports on the stock. BMO Capital Markets decreased their target price on shares of MediaAlpha from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, April 3rd. The Goldman Sachs Group decreased their target price on shares of MediaAlpha from $14.00 to $12.50 and set a “buy” rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. boosted their target price on shares of MediaAlpha from $10.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods decreased their target price on shares of MediaAlpha from $19.00 to $16.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Finally, Royal Bank Of Canada decreased their target price on shares of MediaAlpha from $20.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th.

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Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new position in MediaAlpha in the second quarter valued at $155,000. Pallas Capital Advisors LLC purchased a new position in MediaAlpha in the second quarter valued at $111,000. Clearline Capital LP increased its holdings in MediaAlpha by 123.4% in the first quarter. Clearline Capital LP now owns 2,654,921 shares of the company’s stock valued at $24,531,000 after buying an additional 1,466,760 shares in the last quarter. AQR Capital Management LLC increased its holdings in MediaAlpha by 18.1% in the first quarter. AQR Capital Management LLC now owns 557,796 shares of the company’s stock valued at $5,154,000 after buying an additional 85,581 shares in the last quarter. Finally, PDT Partners LLC purchased a new position in MediaAlpha in the first quarter valued at $1,199,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

MediaAlpha Trading Up 1.0%

NYSE:MAX opened at $10.44 on Thursday. MediaAlpha has a 12 month low of $7.33 and a 12 month high of $20.91. The firm has a fifty day simple moving average of $10.51 and a 200-day simple moving average of $10.19. The company has a market capitalization of $699.99 million, a P/E ratio of 37.30 and a beta of 1.20.

MediaAlpha (NYSE:MAX – Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). MediaAlpha had a negative return on equity of 46.92% and a net margin of 1.58%. The company had revenue of $264.31 million for the quarter, compared to analyst estimates of $236.07 million. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. The company’s quarterly revenue was up 108.7% on a year-over-year basis. Equities analysts forecast that MediaAlpha will post 0.48 EPS for the current year.

MediaAlpha Company Profile

(Get Free Report

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.

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