BMO Capital Markets Issues Pessimistic Forecast for MediaAlpha (NYSE:MAX) Stock Price

MediaAlpha (NYSE:MAX) had its target price decreased by equities researchers at BMO Capital Markets from $27.00 to $23.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 186.60% from the stock’s current price.

Several other brokerages have also weighed in on MAX. The Goldman Sachs Group cut their price objective on shares of MediaAlpha from $23.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Canaccord Genuity Group reduced their price target on MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price objective on shares of MediaAlpha in a report on Tuesday, February 25th. JPMorgan Chase & Co. cut their target price on MediaAlpha from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Finally, Keefe, Bruyette & Woods decreased their target price on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, MediaAlpha has an average rating of “Moderate Buy” and an average price target of $18.29.

MediaAlpha Price Performance

MAX stock opened at $8.03 on Thursday. The company has a 50 day moving average price of $10.40 and a 200 day moving average price of $12.81. MediaAlpha has a fifty-two week low of $7.76 and a fifty-two week high of $25.78. The stock has a market capitalization of $537.92 million, a PE ratio of 47.21 and a beta of 1.11.

MediaAlpha (NYSE:MAX) last released its earnings results on Monday, February 24th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The firm had revenue of $300.65 million for the quarter, compared to the consensus estimate of $289.38 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. As a group, equities analysts expect that MediaAlpha will post 0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MediaAlpha

Several institutional investors have recently modified their holdings of the business. Covestor Ltd raised its holdings in MediaAlpha by 44.1% during the 4th quarter. Covestor Ltd now owns 2,766 shares of the company’s stock worth $31,000 after buying an additional 847 shares during the period. Quarry LP raised its holdings in shares of MediaAlpha by 157.8% during the third quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after acquiring an additional 1,726 shares during the period. Virtus Fund Advisers LLC bought a new stake in MediaAlpha in the 4th quarter valued at $35,000. KLP Kapitalforvaltning AS acquired a new position in MediaAlpha in the 4th quarter worth $67,000. Finally, The Manufacturers Life Insurance Company increased its holdings in MediaAlpha by 11.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock worth $206,000 after purchasing an additional 1,213 shares in the last quarter. Institutional investors own 64.39% of the company’s stock.

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.