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

MediaAlpha (NYSE:MAX) had its price target reduced by equities research analysts at BMO Capital Markets from $27.00 to $23.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 173.16% from the company’s previous close.

MAX has been the subject of several other reports. Keefe, Bruyette & Woods decreased their price objective on shares of MediaAlpha from $22.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price target on shares of MediaAlpha in a research note on Tuesday, February 25th. The Goldman Sachs Group decreased their price objective on shares of MediaAlpha from $23.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. Canaccord Genuity Group cut their price target on MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. decreased their price objective 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 research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.29.

MediaAlpha Trading Down 5.9 %

Shares of NYSE MAX traded down $0.53 during midday trading on Thursday, reaching $8.42. The company’s stock had a trading volume of 74,898 shares, compared to its average volume of 639,790. MediaAlpha has a one year low of $7.87 and a one year high of $25.78. The company has a market cap of $564.39 million, a price-to-earnings ratio of 49.53 and a beta of 1.15. The company has a 50 day moving average price of $10.51 and a 200 day moving average price of $12.90.

MediaAlpha (NYSE:MAX) last issued its earnings results on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.16). The business had revenue of $300.65 million during the quarter, compared to analyst estimates of $289.38 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. Research analysts anticipate that MediaAlpha will post 0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MediaAlpha

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of MediaAlpha by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 3,623,344 shares of the company’s stock worth $40,908,000 after purchasing an additional 169,654 shares during the period. TimesSquare Capital Management LLC lifted its holdings in shares of MediaAlpha by 77.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company’s stock worth $18,389,000 after acquiring an additional 712,410 shares during the last quarter. Millennium Management LLC boosted its position in MediaAlpha by 91.0% in the fourth quarter. Millennium Management LLC now owns 781,349 shares of the company’s stock valued at $8,821,000 after buying an additional 372,305 shares in the last quarter. Geode Capital Management LLC grew its position in MediaAlpha by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 698,703 shares of the company’s stock worth $7,890,000 after acquiring an additional 8,129 shares during the last quarter. Finally, State Street Corp grew its holdings in MediaAlpha by 7.0% during the 3rd quarter. State Street Corp now owns 547,906 shares of the company’s stock worth $9,923,000 after acquiring an additional 35,960 shares during the last quarter. 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.