MediaAlpha (NYSE:MAX) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of MediaAlpha (NYSE:MAXGet Rating) from a hold rating to a sell rating in a research report report published on Wednesday morning, Zacks.com reports.

According to Zacks, “MediaAlpha Inc. provides real-time programmatic technology platform specializing in vertical search and metasearch. MediaAlpha Inc. is based in SEATTLE. “

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada cut their price target on shares of MediaAlpha from $24.00 to $18.00 and set an outperform rating on the stock in a report on Thursday, March 10th. Citigroup lowered shares of MediaAlpha from a buy rating to a neutral rating and cut their price target for the company from $24.00 to $14.00 in a report on Wednesday, February 23rd. Finally, Canaccord Genuity Group cut their price target on shares of MediaAlpha from $30.00 to $20.00 in a report on Friday, February 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $28.89.

NYSE MAX opened at $10.33 on Wednesday. The company’s 50 day simple moving average is $14.75 and its 200 day simple moving average is $14.81. MediaAlpha has a 12 month low of $9.68 and a 12 month high of $47.00.

MediaAlpha (NYSE:MAXGet Rating) last released its quarterly earnings results on Thursday, February 24th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.08). The firm had revenue of $161.58 million for the quarter, compared to analyst estimates of $155.88 million. On average, research analysts expect that MediaAlpha will post -0.59 EPS for the current fiscal year.

In other news, insider Patrick Ryan Thompson acquired 5,000 shares of MediaAlpha stock in a transaction dated Thursday, May 12th. The stock was acquired at an average cost of $10.29 per share, for a total transaction of $51,450.00. Following the completion of the purchase, the insider now owns 49,090 shares of the company’s stock, valued at $505,136.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 9.64% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Prospera Financial Services Inc acquired a new stake in shares of MediaAlpha in the first quarter worth $28,000. Citigroup Inc. raised its stake in MediaAlpha by 139.8% during the 3rd quarter. Citigroup Inc. now owns 3,038 shares of the company’s stock valued at $57,000 after purchasing an additional 1,771 shares during the last quarter. Royal Bank of Canada raised its stake in MediaAlpha by 194.7% during the 3rd quarter. Royal Bank of Canada now owns 4,476 shares of the company’s stock valued at $83,000 after purchasing an additional 2,957 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in MediaAlpha by 20.1% during the 3rd quarter. Advisor Group Holdings Inc. now owns 4,910 shares of the company’s stock valued at $92,000 after purchasing an additional 822 shares during the last quarter. Finally, Macquarie Group Ltd. acquired a new position in MediaAlpha during the 3rd quarter valued at $97,000. Institutional investors and hedge funds own 65.47% of the company’s stock.

MediaAlpha Company Profile (Get Rating)

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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