MediaAlpha (NYSE:MAX) Price Target Cut to $26.00 by Analysts at Canaccord Genuity Group

MediaAlpha (NYSE:MAX) had its price target decreased by Canaccord Genuity Group from $30.00 to $26.00 in a research note issued to investors on Monday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research firms also recently weighed in on MAX. JPMorgan Chase & Co. dropped their target price on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, January 10th. The Goldman Sachs Group lowered their price target on MediaAlpha from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Royal Bank of Canada cut their price objective on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods lowered their target price on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, MediaAlpha currently has a consensus rating of “Moderate Buy” and an average price target of $21.00.

MediaAlpha Stock Up 0.4 %

Shares of MediaAlpha stock opened at $11.45 on Monday. The firm has a market cap of $763.26 million, a PE ratio of 67.35 and a beta of 1.12. MediaAlpha has a 52 week low of $10.21 and a 52 week high of $25.78. The business’s fifty day simple moving average is $11.54 and its 200-day simple moving average is $14.35.

MediaAlpha (NYSE:MAX) last posted its earnings results on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. As a group, equities analysts expect that MediaAlpha will post 0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mackenzie Financial Corp lifted its stake in MediaAlpha by 354.3% in the fourth quarter. Mackenzie Financial Corp now owns 60,259 shares of the company’s stock worth $680,000 after acquiring an additional 46,996 shares during the last quarter. PharVision Advisers LLC acquired a new stake in shares of MediaAlpha in the 4th quarter valued at $279,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of MediaAlpha by 21.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,478 shares of the company’s stock valued at $1,010,000 after purchasing an additional 16,050 shares in the last quarter. Virtus Fund Advisers LLC purchased a new stake in shares of MediaAlpha during the 4th quarter worth $35,000. Finally, Virtus Investment Advisers Inc. acquired a new position in shares of MediaAlpha during the fourth quarter worth $172,000. 64.39% of the stock is owned by institutional investors and hedge funds.

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.