MediaAlpha (NYSE:MAX) trades up to $16.89

Shares of MediaAlpha, Inc. (NYSE:MAX – Get Your Free Report ) were lower before the market opened on Tuesday. The stock had previously closed at $16.89 but opened at $17.38. MediaAlpha shares last traded at $17.03 with a volume of 90,242 shares.

Analysts on Wall Street are forecasting an increase

A number of brokerages recently issued reports on MAX. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $26.00 price objective (up previously from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st . Goldman Sachs Group began coverage on shares of MediaAlpha in a research report on Tuesday. They issued a “buy” rating and a $20.00 price target for the company. Royal Bank of Canada lifted their price objective on MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. TD Cowen lowered MediaAlpha from a “buy” rating to a “hold” rating and decreased their price target for the stock from $19.00 to $13.00 in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. boosted their price target on MediaAlpha from $18.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. MediaAlpha presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.29, according to MarketBeat.com.

Get the latest stock report on MAX

MediaAlpha Price Performance

The company has a market cap of $1.13 billion, a P/E ratio of -25.18 and a beta of 1.20. The company’s 50-day moving average price is $14.90 and its 200-day moving average price is $17.46.

MediaAlpha (NYSE:MAX – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $178.27 million during the quarter, compared to analyst estimates of $151.40 million. MediaAlpha’s revenue for the quarter was up 110.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.32) EPS. As a group, research analysts forecast that MediaAlpha, Inc. will post 0.13 EPS for the current year.

Institutional investors weigh in on MediaAlpha

A number of hedge funds have recently added to or reduced their stakes in MAX. Tower Research Capital LLC TRC lifted its position in shares of MediaAlpha by 111.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock worth $50,000 after buying an additional 2,343 shares in the last quarter. Point72 DIFC Ltd purchased a new position in MediaAlpha in the second quarter worth $65,000. Sandia Investment Management LP purchased a new stake in shares of MediaAlpha in the second quarter valued at $79,000. EntryPoint Capital LLC bought a new stake in shares of MediaAlpha in the first quarter worth $136,000. Finally, Lazard Asset Management LLC purchased a new position in shares of MediaAlpha in the first quarter valued at $165,000. Institutional investors own 64.39% of the company’s shares.

About MediaAlpha

(Get a free report)

MediaAlpha, Inc, through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various property and casualty, health and life insurance verticals. The company was founded in 2014 and is headquartered in Los Angeles, California.

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