MediaAlpha (NYSE:MAX) Sets New 1-Year Low - Here's What Happened

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) shares reached a new 52-week low during trading on Monday . The company traded as low as $8.42 and last traded at $8.53, with a volume of 71838 shares changing hands. The stock had previously closed at $8.75.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Canaccord Genuity Group cut their target price on MediaAlpha from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Royal Bank of Canada restated an "outperform" rating and set a $20.00 price target on shares of MediaAlpha in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods cut their price target 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. The Goldman Sachs Group reduced their price objective on MediaAlpha from $23.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday, February 25th. Finally, JPMorgan Chase & Co. lowered their price objective on MediaAlpha from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $17.50.

MediaAlpha Stock Up 6.2 %

The company has a 50 day moving average of $10.96 and a 200 day moving average of $13.69. The stock has a market capitalization of $635.78 million, a price-to-earnings ratio of 55.79 and a beta of 1.15.

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MediaAlpha (NYSE:MAX - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.16). MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The company had revenue of $300.65 million for the quarter, compared to analysts' expectations of $289.38 million. On average, research analysts forecast that MediaAlpha, Inc. will post 0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MAX. Hillsdale Investment Management Inc. increased its stake in MediaAlpha by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 208,900 shares of the company's stock worth $2,358,000 after acquiring an additional 800 shares during the last quarter. Covestor Ltd grew its holdings in shares of MediaAlpha by 44.1% during the 4th quarter. Covestor Ltd now owns 2,766 shares of the company's stock worth $31,000 after purchasing an additional 847 shares during the period. Earnest Partners LLC increased its position in MediaAlpha by 0.4% during the 4th quarter. Earnest Partners LLC now owns 241,559 shares of the company's stock worth $2,727,000 after purchasing an additional 1,021 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in MediaAlpha by 11.9% in the third quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company's stock valued at $206,000 after buying an additional 1,213 shares during the period. Finally, Quarry LP lifted its position in MediaAlpha by 157.8% during the third quarter. Quarry LP now owns 2,820 shares of the company's stock valued at $51,000 after buying an additional 1,726 shares in the last quarter. 64.39% of the stock is owned by hedge funds and other institutional investors.

MediaAlpha Company Profile

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.