MediaAlpha (NYSE:MAX) Trading 8% Higher – Still a Buy?

MediaAlpha, Inc. (NYSE:MAX) shot up 8% during mid-day trading on Monday . The stock traded as high as $11.73 and last traded at $11.86. 55,288 shares were traded during mid-day trading, a decline of 85% from the average session volume of 372,456 shares. The stock had previously closed at $10.98.

Analysts Set New Price Targets

Several brokerages recently weighed in on MAX. JPMorgan Chase & Co. cut their price objective on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Royal Bank of Canada reduced their target price on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. The Goldman Sachs Group reduced their price objective on shares of MediaAlpha from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods cut their target price on shares of MediaAlpha from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.57.

MediaAlpha Trading Up 8.8 %

The firm’s 50 day moving average price is $11.50 and its two-hundred day moving average price is $14.76. The company has a market capitalization of $796.25 million, a P/E ratio of 70.35 and a beta of 1.12.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The firm had revenue of $259.13 million for the quarter, compared to analysts’ expectations of $246.96 million. Analysts anticipate that MediaAlpha, Inc. will post 0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eugene Nonko sold 72,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the completion of the sale, the insider now owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 11.53% of the company’s stock.

Institutional Investors Weigh In On MediaAlpha

Several hedge funds have recently bought and sold shares of the stock. Driehaus Capital Management LLC lifted its holdings in shares of MediaAlpha by 208.4% during the second quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock worth $18,920,000 after buying an additional 970,840 shares in the last quarter. Clearline Capital LP raised its stake in MediaAlpha by 115.3% in the third quarter. Clearline Capital LP now owns 1,241,419 shares of the company’s stock valued at $22,482,000 after purchasing an additional 664,691 shares in the last quarter. Ghisallo Capital Management LLC grew its stake in MediaAlpha by 535.3% during the second quarter. Ghisallo Capital Management LLC now owns 487,500 shares of the company’s stock worth $6,420,000 after buying an additional 410,764 shares in the last quarter. Marshall Wace LLP bought a new position in MediaAlpha in the 2nd quarter valued at about $4,702,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of MediaAlpha in the 2nd quarter valued at approximately $3,235,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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.