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

MediaAlpha, Inc. (NYSE:MAX)’s stock price 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. The stock had previously closed at $8.40.

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

Institutional Investors Weigh In On MediaAlpha

Several institutional investors have recently added to or reduced their stakes in the company. Covestor Ltd boosted its holdings in shares of MediaAlpha by 44.1% during the fourth quarter. Covestor Ltd now owns 2,766 shares of the company’s stock worth $31,000 after purchasing an additional 847 shares during the period. Virtus Fund Advisers LLC bought a new stake in shares of MediaAlpha in the 4th quarter worth approximately $35,000. Quarry LP increased its stake in shares of MediaAlpha by 157.8% during the third quarter. Quarry LP now owns 2,820 shares of the company’s stock valued at $51,000 after buying an additional 1,726 shares during the period. KLP Kapitalforvaltning AS bought a new position in shares of MediaAlpha during the fourth quarter valued at approximately $67,000. Finally, Walleye Capital LLC bought a new position in shares of MediaAlpha during the fourth quarter valued at approximately $132,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

MediaAlpha Price Performance

The business has a 50 day moving average of $10.46 and a 200 day moving average of $12.87. The company has a market cap of $541.94 million, a PE ratio of 47.62 and a beta of 1.11.

MediaAlpha (NYSE:MAX) last announced 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 net margin of 1.41% and a negative return on equity of 11.98%. The company had revenue of $300.65 million for the quarter, compared to the consensus estimate of $289.38 million. Sell-side analysts forecast that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

About MediaAlpha

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.