MediaAlpha (NYSE:MAX) Price Target Cut to $19.00 by Analysts at Keefe, Bruyette & Woods

MediaAlpha (NYSE:MAX) had its price target lowered by Keefe, Bruyette & Woods from $22.00 to $19.00 in a report released on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. reduced their price objective 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 reduced their price objective on MediaAlpha from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Royal Bank of Canada reduced their price objective on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. Finally, Canaccord Genuity Group reduced their price objective on MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday. One 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 currently has an average rating of “Moderate Buy” and a consensus target price of $19.00.

MediaAlpha Price Performance

MAX stock opened at $9.25 on Tuesday. MediaAlpha has a 1 year low of $8.69 and a 1 year high of $25.78. The firm has a market capitalization of $616.38 million, a PE ratio of 54.39 and a beta of 1.12. The business has a 50 day simple moving average of $11.49 and a 200-day simple moving average of $14.31.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.08 EPS 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. On average, equities research analysts expect that MediaAlpha will post 0.48 EPS for the current year.

Institutional Investors Weigh In On MediaAlpha

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Covestor Ltd raised its position in MediaAlpha by 44.1% in the fourth quarter. Covestor Ltd now owns 2,766 shares of the company’s stock valued at $31,000 after purchasing an additional 847 shares during the period. Quarry LP grew its stake in shares of MediaAlpha by 157.8% in 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 in the last quarter. Virtus Fund Advisers LLC acquired a new stake in shares of MediaAlpha in the fourth quarter valued at $35,000. KLP Kapitalforvaltning AS acquired a new stake in shares of MediaAlpha in the fourth quarter valued at $67,000. Finally, The Manufacturers Life Insurance Company grew its stake 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 buying an additional 1,213 shares in the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.