MediaAlpha (NYSE:MAX) PT Raised to $30.00 at Canaccord Genuity Group

MediaAlpha (NYSE:MAX) had its target price increased by Canaccord Genuity Group from $25.00 to $30.00 in a report published on Thursday morning, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

MAX has been the subject of a number of other research reports. Royal Bank of Canada increased their target price on shares of MediaAlpha from $12.00 to $18.00 and gave the stock an outperform rating in a research report on Wednesday, February 21st. BMO Capital Markets raised shares of MediaAlpha from a market perform rating to an outperform rating and raised their price objective for the stock from $9.00 to $28.00 in a report on Monday, February 26th. JPMorgan Chase & Co. boosted their target price on MediaAlpha from $18.00 to $30.00 and gave the stock an overweight rating in a report on Thursday. Finally, TD Cowen assumed coverage on MediaAlpha in a research report on Wednesday, January 10th. They set an outperform rating and a $15.00 price target on the stock. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $21.50.

MediaAlpha Stock Performance

Shares of MAX stock traded up $0.12 during trading hours on Thursday, hitting $22.20. The company had a trading volume of 1,211,882 shares, compared to its average volume of 433,425. MediaAlpha has a 12 month low of $5.08 and a 12 month high of $25.78. The firm’s fifty day moving average is $19.89 and its 200 day moving average is $14.34. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -32.65 and a beta of 1.32.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.09. The company had revenue of $126.60 million during the quarter, compared to analyst estimates of $111.17 million. During the same period in the prior year, the firm earned ($0.23) EPS. MediaAlpha’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, sell-side analysts expect that MediaAlpha will post -0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were 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 $992,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Portside Wealth Group LLC increased its stake in shares of 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 holdings in MediaAlpha by 13.7% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock valued at $154,000 after acquiring an additional 1,660 shares during the last quarter. Swiss National Bank increased its position in 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 purchasing an additional 2,000 shares during the period. Tower Research Capital LLC TRC raised its holdings in MediaAlpha by 111.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock worth $50,000 after purchasing an additional 2,343 shares during the last quarter. Finally, Norden Group LLC raised its holdings in MediaAlpha by 32.8% during the 1st quarter. Norden Group LLC now owns 18,750 shares of the company’s stock worth $382,000 after purchasing an additional 4,633 shares during the last quarter. 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.