MediaAlpha (NYSE:MAX) Sets New 1-Year Low After Analyst Downgrade

MediaAlpha, Inc. (NYSE:MAX) hit a new 52-week low during mid-day trading on Friday after BMO Capital Markets lowered their price target on the stock from $27.00 to $23.00. BMO Capital Markets currently has an outperform rating on the stock. MediaAlpha traded as low as $8.17 and last traded at $8.09, with a volume of 241 shares changing hands. The stock had previously closed at $8.40.

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

Institutional Investors Weigh In On MediaAlpha

A number of large investors have recently bought and sold shares of MAX. Covestor Ltd lifted its position in shares of MediaAlpha by 44.1% in the fourth quarter. Covestor Ltd now owns 2,766 shares of the company’s stock worth $31,000 after buying an additional 847 shares during the last quarter. Quarry LP boosted its position in MediaAlpha by 157.8% during the third quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after purchasing an additional 1,726 shares during the period. Virtus Fund Advisers LLC acquired a new position in MediaAlpha during the fourth quarter valued at approximately $35,000. KLP Kapitalforvaltning AS acquired a new position in MediaAlpha during the fourth quarter valued at approximately $67,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of MediaAlpha by 11.9% in the third quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock valued at $206,000 after purchasing an additional 1,213 shares during the period. 64.39% of the stock is currently owned by institutional investors.

MediaAlpha Price Performance

The stock’s 50 day moving average price is $10.40 and its two-hundred day moving average price is $12.81. The firm has a market capitalization of $537.92 million, a price-to-earnings 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 analyst estimates 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 research analysts anticipate that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

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.