MediaAlpha (NYSE:MAX - Free Report) had its price objective lowered by The Goldman Sachs Group from $26.00 to $23.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.
Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada dropped their price objective on MediaAlpha from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, December 4th. Keefe, Bruyette & Woods dropped their target price on MediaAlpha from $26.00 to $22.00 and set an "outperform" rating for the company in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of MediaAlpha from $25.00 to $15.00 and set an "overweight" rating on the stock in a research report on Friday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, MediaAlpha has a consensus rating of "Moderate Buy" and a consensus target price of $21.57.
Check Out Our Latest Report on MAX
MediaAlpha Trading Down 0.3 %
NYSE MAX traded down $0.03 during trading hours on Tuesday, reaching $11.18. The company had a trading volume of 346,949 shares, compared to its average volume of 434,719. MediaAlpha has a 1-year low of $10.21 and a 1-year high of $25.78. The stock has a market capitalization of $745.30 million, a P/E ratio of 65.76 and a beta of 1.12. The stock has a 50-day moving average of $11.68 and a 200 day moving average of $14.84.
MediaAlpha (NYSE:MAX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $246.96 million. As a group, sell-side analysts predict that MediaAlpha will post 0.42 EPS for the current year.
Insider Buying and Selling
In related news, insider Eugene Nonko sold 72,000 shares of the business's stock in a transaction on 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 transaction, the insider now owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 11.53% of the company's stock.
Institutional Trading of MediaAlpha
A number of institutional investors have recently bought and sold shares of the business. Driehaus Capital Management LLC raised its position in shares of MediaAlpha by 208.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company's stock worth $18,920,000 after acquiring an additional 970,840 shares in the last quarter. Clearline Capital LP increased 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 during the last quarter. Geode Capital Management LLC raised its holdings in MediaAlpha by 28.9% during the third quarter. Geode Capital Management LLC now owns 690,574 shares of the company's stock worth $12,509,000 after purchasing an additional 154,637 shares in the last quarter. Divisadero Street Capital Management LP purchased a new stake in shares of MediaAlpha during the 2nd quarter worth approximately $7,956,000. Finally, State Street Corp boosted its holdings in shares of MediaAlpha by 7.0% in the 3rd quarter. State Street Corp now owns 547,906 shares of the company's stock valued at $9,923,000 after buying an additional 35,960 shares in the last quarter. 64.39% of the stock is owned by hedge funds and other institutional investors.
MediaAlpha Company Profile
(
Get Free Report)
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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