MediaAlpha (NYSE:MAX) Given New $26.00 Price Target at Canaccord Genuity Group

MediaAlpha (NYSE:MAX - Free Report) had its target price reduced by Canaccord Genuity Group from $30.00 to $26.00 in a research note released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on MAX. JPMorgan Chase & Co. decreased their target price on MediaAlpha from $25.00 to $15.00 and set an "overweight" rating on the stock in a report on Friday, January 10th. Royal Bank of Canada decreased their price objective on shares of MediaAlpha from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Wednesday, December 4th. The Goldman Sachs Group cut their target price on shares of MediaAlpha from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of MediaAlpha from $26.00 to $22.00 and set an "outperform" rating for the company in a report on Wednesday, December 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, MediaAlpha currently has an average rating of "Moderate Buy" and an average price target of $17.50.

MediaAlpha Stock Performance

MediaAlpha stock traded up $0.28 during mid-day trading on Monday, reaching $9.33. The company's stock had a trading volume of 959,118 shares, compared to its average volume of 479,840. The business's 50 day simple moving average is $11.45 and its 200 day simple moving average is $14.28. The company has a market capitalization of $621.71 million, a price-to-earnings ratio of 54.86 and a beta of 1.12. MediaAlpha has a 12 month low of $8.65 and a 12 month high of $25.78.

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 firm had revenue of $300.65 million during the quarter, compared to analyst estimates of $289.38 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. As a group, sell-side analysts expect that MediaAlpha will post 0.48 EPS for the current year.

Institutional Investors Weigh In On MediaAlpha

Institutional investors have recently modified their holdings of the business. Covestor Ltd raised its stake in MediaAlpha by 44.1% in the 4th quarter. Covestor Ltd now owns 2,766 shares of the company's stock worth $31,000 after purchasing an additional 847 shares in the last quarter. Virtus Fund Advisers LLC bought a new position in shares of MediaAlpha during the fourth quarter worth approximately $35,000. Quarry LP increased 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 purchasing an additional 1,726 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in shares of MediaAlpha in the fourth quarter valued at approximately $67,000. Finally, Walleye Capital LLC bought a new stake in shares of MediaAlpha in the fourth quarter valued at approximately $132,000. Institutional investors own 64.39% of the company's stock.

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.