MediaAlpha (NYSE:MAX) Price Target Lowered to $23.00 at BMO Capital Markets

MediaAlpha (NYSE:MAX - Free Report) had its target price decreased by BMO Capital Markets from $27.00 to $23.00 in a research report released on Thursday morning, MarketBeat reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other research analysts have also issued reports on MAX. The Goldman Sachs Group reduced their target price 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. JPMorgan Chase & Co. lowered their target price on shares of MediaAlpha from $15.00 to $13.00 and set an "overweight" rating for the company in a report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $20.00 price objective on shares of MediaAlpha in a research note on Tuesday, February 25th. Canaccord Genuity Group decreased their target price on MediaAlpha from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of MediaAlpha from $22.00 to $19.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.29.

MediaAlpha Trading Down 0.9 %

Shares of MAX traded down $0.07 during mid-day trading on Thursday, hitting $7.71. 187,737 shares of the company traded hands, compared to its average volume of 644,321. The stock has a market capitalization of $516.80 million, a price-to-earnings ratio of 45.18 and a beta of 1.11. The business has a 50-day moving average of $10.32 and a 200 day moving average of $12.67. MediaAlpha has a one year low of $7.50 and a one year high of $25.78.

MediaAlpha (NYSE:MAX - Get Free Report) 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). The firm had revenue of $300.65 million during the quarter, compared to the consensus estimate of $289.38 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. As a group, analysts anticipate that MediaAlpha will post 0.48 earnings per share for the current year.

Hedge Funds Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in MediaAlpha by 8,775.8% in the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock valued at $27,000 after buying an additional 2,896 shares in the last quarter. Mackenzie Financial Corp increased its holdings in MediaAlpha by 354.3% during the 4th quarter. Mackenzie Financial Corp now owns 60,259 shares of the company's stock worth $680,000 after purchasing an additional 46,996 shares in the last quarter. PharVision Advisers LLC bought a new stake in shares of MediaAlpha in the fourth quarter worth $279,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of MediaAlpha by 21.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,478 shares of the company's stock worth $1,010,000 after buying an additional 16,050 shares during the last quarter. Finally, Virtus Fund Advisers LLC bought a new position in MediaAlpha in the fourth quarter valued at approximately $35,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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.