MediaAlpha (NYSE:MAX) Shares Down 5.8% – Time to Sell?

MediaAlpha, Inc. (NYSE:MAX) dropped 5.8% on Tuesday . The company traded as low as $12.06 and last traded at $12.05. Approximately 83,434 shares were traded during trading, a decline of 76% from the average daily volume of 352,618 shares. The stock had previously closed at $12.78.

Analyst Ratings Changes

MAX has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their target price on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Keefe, Bruyette & Woods lowered their price objective on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Royal Bank of Canada dropped their target price on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group reduced their price target on MediaAlpha from $26.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.57.

MediaAlpha Stock Performance

The firm has a 50-day moving average of $11.47 and a 200-day moving average of $14.47. The firm has a market capitalization of $782.46 million, a P/E ratio of 69.05 and a beta of 1.12.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Geode Capital Management LLC lifted its stake in MediaAlpha by 28.9% during the 3rd quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock valued at $12,509,000 after acquiring an additional 154,637 shares during the period. Barclays PLC raised its holdings in shares of MediaAlpha by 423.2% during the third quarter. Barclays PLC now owns 66,525 shares of the company’s stock valued at $1,204,000 after purchasing an additional 53,809 shares during the last quarter. GSA Capital Partners LLP bought a new position in MediaAlpha during the third quarter valued at approximately $804,000. JPMorgan Chase & Co. lifted its position in MediaAlpha by 655.8% during the third quarter. JPMorgan Chase & Co. now owns 80,071 shares of the company’s stock valued at $1,450,000 after purchasing an additional 69,477 shares during the period. Finally, PDT Partners LLC purchased a new stake in MediaAlpha in the third quarter worth approximately $1,237,000. 64.39% of the stock is owned by 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.