MediaAlpha, Inc. (NYSE:MAX) Receives $24.29 Consensus Target Price from Analysts

Shares of MediaAlpha, Inc. (NYSE:MAX - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the seven analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $24.29.

Several research firms have weighed in on MAX. TD Cowen cut shares of MediaAlpha from a "buy" rating to a "hold" rating and lowered their price objective for the company from $19.00 to $13.00 in a research report on Wednesday, June 26th. The Goldman Sachs Group initiated coverage on MediaAlpha in a report on Tuesday, August 20th. They issued a "buy" rating and a $20.00 price target for the company. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and set a $26.00 target price (up previously from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st.

Hedge Funds Weigh In On MediaAlpha

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in MediaAlpha by 5.1% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,890 shares of the company's stock worth $315,000 after purchasing an additional 1,150 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in MediaAlpha by 9.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company's stock worth $292,000 after acquiring an additional 1,235 shares during the period. Hsbc Holdings PLC boosted its stake in MediaAlpha by 7.1% during the second quarter. Hsbc Holdings PLC now owns 23,791 shares of the company's stock valued at $312,000 after buying an additional 1,582 shares during the period. Silvercrest Asset Management Group LLC grew its holdings in shares of MediaAlpha by 0.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 375,509 shares of the company's stock worth $7,649,000 after purchasing an additional 1,667 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of MediaAlpha by 7.3% during the 2nd quarter. Rhumbline Advisers now owns 36,751 shares of the company's stock worth $484,000 after acquiring an additional 2,511 shares during the last quarter. Institutional investors own 64.39% of the company's stock.

MediaAlpha Price Performance

MediaAlpha stock traded down $0.34 during midday trading on Tuesday, reaching $16.89. The stock had a trading volume of 495,569 shares, compared to its average volume of 566,964. The firm's fifty day simple moving average is $17.09 and its two-hundred day simple moving average is $17.28. MediaAlpha has a twelve month low of $8.47 and a twelve month high of $25.78. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -24.84 and a beta of 1.22.

MediaAlpha (NYSE:MAX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. The business had revenue of $178.27 million during the quarter, compared to analyst estimates of $151.40 million. During the same period in the prior year, the business posted ($0.32) earnings per share. The company's revenue for the quarter was up 110.3% compared to the same quarter last year. As a group, sell-side analysts predict that MediaAlpha will post 0.35 EPS for the current fiscal year.

About MediaAlpha

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.