MediaAlpha (NYSE:MAX) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of MediaAlpha (NYSE:MAX) from a hold rating to a strong-buy rating in a research report released on Tuesday,Zacks reports.

A number of other research firms also recently weighed in on MAX. Texas Capital upgraded MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. TD Cowen reduced their price target on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Tuesday, June 23rd. Weiss Ratings downgraded shares of MediaAlpha from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, September 17th. Canaccord Genuity Group upped their price objective on shares of MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen raised shares of MediaAlpha from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $14.29.

MediaAlpha Stock Down 6.1%

Shares of NYSE MAX opened at $9.37 on Tuesday. The stock’s 50-day simple moving average is $12.53 and its two-hundred day simple moving average is $10.89. MediaAlpha has a twelve month low of $7.09 and a twelve month high of $14.70. The firm has a market capitalization of $574.10 million, a P/E ratio of 5.78 and a beta of 1.16.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.42. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. The business had revenue of $316.88 million for the quarter, compared to the consensus estimate of $300.87 million. As a group, research analysts anticipate that MediaAlpha will post 1.28 EPS for the current fiscal year.

Insider Buying and Selling at MediaAlpha

In other news, CRO Keith Cramer sold 13,000 shares of the stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $11.49, for a total transaction of $149,370.00. Following the completion of the sale, the executive owned 251,303 shares of the company’s stock, valued at approximately $2,887,471.47. This represents a 4.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Eugene Nonko sold 6,667 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $10.53, for a total transaction of $70,203.51. Following the completion of the transaction, the director owned 861,217 shares in the company, valued at $9,068,615.01. This represents a 0.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 618,468 shares of company stock worth $8,000,539. 14.65% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MediaAlpha

Several hedge funds and other institutional investors have recently modified their holdings of MAX. Rockefeller Capital Management L.P. grew its stake in shares of MediaAlpha by 9,917.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock worth $36,000 after purchasing an additional 2,777 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in MediaAlpha in the 1st quarter worth approximately $85,000. Aaron Wealth Advisors LLC bought a new stake in shares of MediaAlpha in the 1st quarter worth approximately $95,000. Glenmede Trust Co. NA purchased a new position in shares of MediaAlpha during the first quarter valued at approximately $122,000. Finally, SG Americas Securities LLC lifted its stake in MediaAlpha by 23.2% in the first quarter. SG Americas Securities LLC now owns 19,473 shares of the company’s stock worth $181,000 after acquiring an additional 3,668 shares during the period. 64.39% of the stock is owned by institutional investors.

MediaAlpha Company Profile

MediaAlpha, Inc operates a technology platform that connects consumers seeking insurance and other financial products with providers seeking qualified customer leads. Its marketplace uses data, analytics and real-time bidding technology to help carriers, agencies and other distributors acquire customers across digital channels.

The company’s platform primarily supports the marketing and distribution of insurance products, including property and casualty, health and life insurance. MediaAlpha provides tools for managing customer acquisition campaigns, matching consumer inquiries with relevant providers, and optimizing marketing performance across search, display and other online channels.

MediaAlpha was founded in 2014 and is headquartered in Los Angeles, California.