MediaAlpha (NYSE:MAX) Stock Price Up 7.7%

MediaAlpha, Inc. (NYSE:MAX) was up 7.7% on Monday . The company traded as high as $18.17 and last traded at $18.08. Approximately 297,077 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 576,701 shares. The stock had previously closed at $16.79.

Wall Street Analysts Forecast Growth

MAX has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $26.00 price objective (up from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. Royal Bank of Canada upped their price objective on shares of MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. TD Cowen cut shares of MediaAlpha from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $19.00 to $13.00 in a research report on Wednesday, June 26th. Finally, The Goldman Sachs Group initiated coverage on shares of MediaAlpha in a report on Tuesday, August 20th. They issued 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 data from MarketBeat, MediaAlpha has a consensus rating of “Moderate Buy” and a consensus price target of $24.29.

MediaAlpha Stock Up 0.9 %

The firm’s fifty day moving average price is $15.64 and its 200-day moving average price is $17.65. The stock has a market cap of $1.12 billion, a P/E ratio of -25.01 and a beta of 1.22.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $178.27 million during the quarter, compared to the consensus estimate of $151.40 million. During the same period in the previous year, the company earned ($0.32) earnings per share. MediaAlpha’s quarterly revenue was up 110.3% on a year-over-year basis. Sell-side analysts predict that MediaAlpha, Inc. will post 0.35 earnings per share for the current year.

Institutional Trading of MediaAlpha

Large investors have recently added to or reduced their stakes in the business. Point72 DIFC Ltd bought a new position in MediaAlpha during the second quarter valued at approximately $65,000. Sandia Investment Management LP purchased a new stake in shares of MediaAlpha in the second quarter valued at approximately $79,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of MediaAlpha by 354.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock valued at $114,000 after buying an additional 6,728 shares during the period. The Manufacturers Life Insurance Company purchased a new position in MediaAlpha during the 2nd quarter valued at about $134,000. Finally, EntryPoint Capital LLC bought a new position in MediaAlpha in the first quarter worth approximately $136,000. 64.39% of the stock is currently owned by 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.