Fintel reports that on January 10, 2024, TD Cowen initiated coverage of MediaAlpha (NYSE:MAX) with a Outperform recommendation.
Analyst Price Forecast Suggests 18.34% Upside
As of December 17, 2023, the average one-year price target for MediaAlpha is 12.85. The forecasts range from a low of 9.09 to a high of $15.75. The average price target represents an increase of 18.34% from its latest reported closing price of 10.86.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for MediaAlpha is 694MM, an increase of 75.73%. The projected annual non-GAAP EPS is -0.40.
What is the Fund Sentiment?
There are 211 funds or institutions reporting positions in MediaAlpha. This is a decrease of 8 owner(s) or 3.65% in the last quarter. Average portfolio weight of all funds dedicated to MAX is 0.27%, a decrease of 4.09%. Total shares owned by institutions decreased in the last three months by 1.62% to 47,721K shares. 
The put/call ratio of MAX is 0.16, indicating a bullish outlook.
What are Other Shareholders Doing?
White Mountains Insurance Group holds 22,857K shares representing 48.34% ownership of the company. No change in the last quarter.
Kayne Anderson Rudnick Investment Management holds 5,747K shares representing 12.15% ownership of the company. In it's prior filing, the firm reported owning 6,004K shares, representing a decrease of 4.48%. The firm decreased its portfolio allocation in MAX by 46.08% over the last quarter.
PSGAX - Virtus KAR Small-Cap Growth Fund holds 3,972K shares representing 8.40% ownership of the company. No change in the last quarter.
Broad Bay Capital Management holds 2,319K shares representing 4.90% ownership of the company. In it's prior filing, the firm reported owning 2,671K shares, representing a decrease of 15.16%. The firm decreased its portfolio allocation in MAX by 22.26% over the last quarter.
Norges Bank holds 1,600K shares representing 3.38% ownership of the company. No change in the last quarter.
MediaAlpha Background Information
(This description is provided by the company.)
MediaAlpha is a marketing technology company. It operates transparent and efficient exchange platforms that facilitate real-time transactions between advertisers and publishers of performance media. MediaAlpha has developed distinctive platform solutions for a range of insurance verticals, including auto, motorcycle, home, renter, health and life, and non-insurance verticals, including travel, education, personal finance and home services. MediaAlpha powers over 200 million transactions annually, representing more than $400 million in aggregate media spend.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
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