BMO Capital Markets Issues Pessimistic Forecast for MediaAlpha (NYSE:MAX) Stock Price

MediaAlpha (NYSE:MAX) had its price target reduced by BMO Capital Markets from $27.00 to $23.00 in a research note issued to investors on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

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

MediaAlpha Stock Down 6.1 %

Shares of MAX opened at $8.41 on Thursday. MediaAlpha has a 52 week low of $8.00 and a 52 week high of $25.78. The stock has a market cap of $563.39 million, a price-to-earnings ratio of 49.44 and a beta of 1.15. The business has a 50-day simple moving average of $10.46 and a two-hundred day simple moving average of $12.87.

MediaAlpha (NYSE:MAX) last released its earnings results on Monday, February 24th. The company reported $0.08 EPS 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 the consensus estimate of $289.38 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. On average, equities analysts anticipate that MediaAlpha will post 0.48 earnings per share for the current fiscal year.

Institutional Trading of MediaAlpha

Hedge funds have recently modified their holdings of the company. Covestor Ltd grew its holdings in shares of 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 in the last quarter. Virtus Fund Advisers LLC purchased a new stake in MediaAlpha during the fourth quarter valued at $35,000. Quarry LP lifted its position in 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 purchasing an additional 1,726 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of MediaAlpha in the 4th quarter worth $67,000. Finally, Walleye Capital LLC bought a new stake in shares of MediaAlpha in the 4th quarter worth about $132,000. 64.39% of the stock is owned by hedge funds and other institutional investors.

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.