MediaAlpha (NYSE:MAX) Trading Up 4% - What's Next?

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) rose 4% on Thursday . The stock traded as high as $17.86 and last traded at $17.83. Approximately 72,824 shares were traded during trading, a decline of 87% from the average daily volume of 563,189 shares. The stock had previously closed at $17.14.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on MAX shares. TD Cowen cut shares of MediaAlpha from a "buy" rating to a "hold" rating and cut their target price for the company from $19.00 to $13.00 in a research note on Wednesday, June 26th. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $26.00 price objective (up previously from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group assumed coverage on MediaAlpha in a report on Tuesday, August 20th. They set a "buy" rating and a $20.00 target price on the stock. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $24.29.

MediaAlpha Stock Up 6.5 %

The company has a market cap of $1.20 billion, a P/E ratio of -26.85 and a beta of 1.22. The business has a 50-day moving average price of $17.19 and a two-hundred day moving average price of $17.26.

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

Institutional Trading of MediaAlpha

A number of institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd acquired a new position in shares of MediaAlpha during the 2nd quarter worth about $65,000. Sandia Investment Management LP acquired a new position in MediaAlpha during the second quarter valued at approximately $79,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MediaAlpha by 354.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company's stock valued at $114,000 after purchasing an additional 6,728 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in MediaAlpha in the second quarter valued at approximately $134,000. Finally, EntryPoint Capital LLC acquired a new stake in MediaAlpha in the first quarter worth $136,000. Institutional investors and hedge funds own 64.39% of the company's stock.

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.