MediaAlpha (NYSE:MAX) Raised to Hold at Zacks Research

MediaAlpha (NYSE:MAX) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other brokerages also recently issued reports on MAX. Royal Bank Of Canada raised their price objective on shares of MediaAlpha from $11.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group upped their target price on MediaAlpha from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Keefe, Bruyette & Woods increased their target price on MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. TD Cowen dropped their price target on MediaAlpha from $13.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, June 23rd. Finally, Texas Capital upgraded MediaAlpha to a “strong-buy” rating in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.29.

MediaAlpha Price Performance

NYSE:MAX opened at $12.87 on Monday. The company has a market cap of $788.23 million, a P/E ratio of 7.94 and a beta of 1.11. The firm’s fifty day moving average price is $12.85 and its two-hundred day moving average price is $10.45. MediaAlpha has a one year low of $7.09 and a one year high of $14.70.

MediaAlpha (NYSE:MAX) last posted its earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts expect that MediaAlpha will post 0.97 earnings per share for the current year.

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, CRO Keith Cramer sold 13,000 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $12.76, for a total transaction of $165,880.00. Following the transaction, the executive owned 264,303 shares in the company, valued at $3,372,506.28. This represents a 4.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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, Director Eugene Nonko sold 3,282 shares of the firm’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $13.20, for a total transaction of $43,322.40. Following the transaction, the director directly owned 832,554 shares in the company, valued at $10,989,712.80. This represents a 0.39% 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. Insiders sold 567,700 shares of company stock valued at $7,167,531 in the last quarter. Company insiders own 14.65% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

A number of hedge funds have recently added to or reduced their stakes in MAX. Caitong International Asset Management Co. Ltd raised its holdings in MediaAlpha by 5,900.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock valued at $28,000 after acquiring an additional 2,124 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of MediaAlpha by 9,917.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock worth $36,000 after purchasing an additional 2,777 shares in the last quarter. Strs Ohio bought a new position in shares of MediaAlpha in the fourth quarter worth $49,000. Quarry LP increased its position in shares of MediaAlpha by 43.3% in the third quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after purchasing an additional 1,234 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in MediaAlpha by 28.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock valued at $61,000 after purchasing an additional 1,213 shares in the last quarter. Institutional investors own 64.39% of the company’s stock.

About MediaAlpha

MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company’s platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.

The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.