MediaAlpha (NYSE:MAX) Price Target Raised to $30.00

MediaAlpha (NYSE:MAX) had its price objective upped by analysts at JPMorgan Chase & Co. from $18.00 to $30.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 28.10% from the company’s current price.

MAX has been the topic of several other research reports. Canaccord Genuity Group raised their price target on MediaAlpha from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. BMO Capital Markets upgraded shares of MediaAlpha from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $9.00 to $28.00 in a report on Monday, February 26th. TD Cowen started coverage on MediaAlpha in a research report on Wednesday, January 10th. They issued an “outperform” rating and a $15.00 price target for the company. Finally, Royal Bank of Canada lifted their target price on MediaAlpha from $12.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, MediaAlpha has a consensus rating of “Moderate Buy” and a consensus price target of $20.17.

MediaAlpha Stock Up 11.2 %

NYSE MAX traded up $2.36 during trading on Thursday, hitting $23.42. 571,503 shares of the stock traded hands, compared to its average volume of 299,903. The company has a market capitalization of $1.54 billion, a P/E ratio of -26.38 and a beta of 1.32. MediaAlpha has a 12-month low of $5.08 and a 12-month high of $25.78. The firm has a 50-day simple moving average of $19.78 and a 200-day simple moving average of $14.16.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.09. The business had revenue of $126.60 million during the quarter, compared to the consensus estimate of $111.17 million. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.23) EPS. As a group, research analysts predict that MediaAlpha will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $19.85, for a total transaction of $58,557,500.00. Following the sale, the insider now directly owns 50,000 shares of the company’s stock, valued at approximately $992,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Portside Wealth Group LLC raised its holdings in MediaAlpha by 9.1% in the 4th quarter. Portside Wealth Group LLC now owns 18,755 shares of the company’s stock valued at $209,000 after buying an additional 1,567 shares during the period. Baker Tilly Wealth Management LLC boosted its position in MediaAlpha by 13.7% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock valued at $154,000 after buying an additional 1,660 shares during the period. Swiss National Bank grew its stake in shares of MediaAlpha by 4.6% in the third quarter. Swiss National Bank now owns 45,400 shares of the company’s stock worth $375,000 after acquiring an additional 2,000 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of MediaAlpha by 111.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock worth $50,000 after acquiring an additional 2,343 shares during the period. Finally, Norden Group LLC raised its stake in shares of MediaAlpha by 32.8% in the first quarter. Norden Group LLC now owns 18,750 shares of the company’s stock valued at $382,000 after acquiring an additional 4,633 shares in the last quarter. 64.39% of the stock is owned by hedge funds and other institutional investors.

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.