Canaccord Genuity Group Cuts MediaAlpha (NYSE:MAX) Price Target to $26.00

MediaAlpha (NYSE:MAX) had its price objective lowered by Canaccord Genuity Group from $30.00 to $26.00 in a research report sent to investors on Monday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on MAX. Royal Bank of Canada reduced their price objective on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, December 4th. JPMorgan Chase & Co. decreased their target price on MediaAlpha from $25.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. The Goldman Sachs Group cut their price objective on shares of MediaAlpha from $26.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods decreased their price objective on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.50.

MediaAlpha Stock Performance

Shares of NYSE MAX opened at $9.05 on Monday. MediaAlpha has a 52-week low of $8.69 and a 52-week high of $25.78. The stock has a 50 day moving average price of $11.45 and a 200 day moving average price of $14.28. The firm has a market capitalization of $603.31 million, a price-to-earnings ratio of 53.24 and a beta of 1.12.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data 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 company had revenue of $300.65 million for the quarter, compared to analysts’ expectations of $289.38 million. Analysts forecast that MediaAlpha will post 0.48 earnings per share for the current year.

Hedge Funds Weigh In On MediaAlpha

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of MediaAlpha during the third quarter worth about $491,000. Robeco Institutional Asset Management B.V. acquired a new stake in shares of MediaAlpha in the third quarter valued at approximately $221,000. Los Angeles Capital Management LLC increased its position in MediaAlpha by 91.9% during the third quarter. Los Angeles Capital Management LLC now owns 55,183 shares of the company’s stock worth $999,000 after buying an additional 26,420 shares in the last quarter. GSA Capital Partners LLP purchased a new position in MediaAlpha in the 3rd quarter valued at about $804,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in MediaAlpha in the 3rd quarter worth approximately $744,000. 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.