MediaAlpha (NYSE:MAX) Sets New 52-Week Low Following Analyst Downgrade

MediaAlpha, Inc. (NYSE:MAX)’s share price hit a new 52-week low 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 trading hands. The stock had previously closed at $8.40.

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

Institutional Trading of MediaAlpha

Large investors have recently made changes to their positions in the business. Covestor Ltd lifted its position 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 in the last quarter. Virtus Fund Advisers LLC bought a new position in shares of MediaAlpha in the fourth quarter worth about $35,000. Quarry LP lifted its position 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 purchasing an additional 1,726 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of MediaAlpha during the fourth quarter worth approximately $67,000. Finally, Walleye Capital LLC bought a new stake in shares of MediaAlpha during the fourth quarter valued at approximately $132,000. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Stock Down 4.5 %

The business’s fifty day moving average is $10.40 and its two-hundred day moving average is $12.81. The firm has a market cap 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). MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The firm had revenue of $300.65 million for the quarter, compared to the consensus estimate of $289.38 million. Research analysts forecast that MediaAlpha, Inc. will post 0.48 EPS for the current 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.