MediaAlpha (NYSE:MAX) Sets New 1-Year Low on Analyst Downgrade

MediaAlpha, Inc. (NYSE:MAX)’s share price hit a new 52-week low during 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 trading hands. The stock had previously closed at $8.40.

MAX has been the subject of a number of other reports. Canaccord Genuity Group lowered 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. The Goldman Sachs Group lowered their price objective on shares of MediaAlpha from $23.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods cut their price objective on shares of MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report 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 research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of MediaAlpha from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.29.

Institutional Trading of MediaAlpha

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Covestor Ltd grew its position 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 during the last quarter. Quarry LP lifted its holdings in shares of MediaAlpha by 157.8% during the third quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after buying an additional 1,726 shares in the last quarter. Virtus Fund Advisers LLC acquired a new stake in MediaAlpha during the fourth quarter worth approximately $35,000. KLP Kapitalforvaltning AS bought a new position in MediaAlpha during the 4th quarter worth $67,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of MediaAlpha by 11.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock valued at $206,000 after acquiring an additional 1,213 shares during the period. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Price Performance

The company has a market cap of $541.94 million, a P/E ratio of 47.62 and a beta of 1.11. The stock has a 50-day moving average of $10.46 and a 200 day moving average of $12.87.

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