MediaAlpha (NYSE:MAX) Price Target Cut to $19.00 by Analysts at Keefe, Bruyette & Woods

MediaAlpha (NYSE:MAX - Get Free Report) had its target price dropped by stock analysts at Keefe, Bruyette & Woods from $22.00 to $19.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 104.19% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. The Goldman Sachs Group dropped their price objective on MediaAlpha from $26.00 to $23.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. Royal Bank of Canada lowered their target price on shares of MediaAlpha from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, December 4th. JPMorgan Chase & Co. decreased their price objective on MediaAlpha from $25.00 to $15.00 and set an "overweight" rating for the company in a report on Friday, January 10th. Finally, Canaccord Genuity Group dropped their target price on MediaAlpha from $30.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $17.50.

MediaAlpha Price Performance

Shares of MAX stock traded down $0.07 during mid-day trading on Tuesday, hitting $9.31. The stock had a trading volume of 526,649 shares, compared to its average volume of 481,040. The firm has a market capitalization of $620.31 million, a P/E ratio of 54.74 and a beta of 1.12. MediaAlpha has a 12-month low of $8.65 and a 12-month high of $25.78. The firm's 50-day moving average is $11.41 and its two-hundred day moving average is $14.24.

MediaAlpha (NYSE:MAX - Get Free Report) last issued its earnings results on Monday, February 24th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.16). The business 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%. Analysts expect that MediaAlpha will post 0.48 EPS for the current year.

Hedge Funds Weigh In On MediaAlpha

Several hedge funds have recently made changes to their positions in MAX. TimesSquare Capital Management LLC grew its stake in MediaAlpha by 77.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company's stock valued at $18,389,000 after purchasing an additional 712,410 shares during the last quarter. Clearline Capital LP boosted its position in MediaAlpha by 115.3% in the third quarter. Clearline Capital LP now owns 1,241,419 shares of the company's stock valued at $22,482,000 after buying an additional 664,691 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in MediaAlpha by 2,683.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 476,342 shares of the company's stock worth $5,378,000 after buying an additional 459,227 shares during the period. AQR Capital Management LLC raised its position in MediaAlpha by 570.7% during the 4th quarter. AQR Capital Management LLC now owns 472,215 shares of the company's stock worth $5,331,000 after buying an additional 401,807 shares during the last quarter. Finally, CenterBook Partners LP lifted its stake in MediaAlpha by 485.7% during the 4th quarter. CenterBook Partners LP now owns 471,864 shares of the company's stock valued at $5,327,000 after acquiring an additional 391,298 shares during the period. 64.39% of the stock is 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.