MediaAlpha (NYSE:MAX) Sets New 52-Week Low Following Analyst Downgrade

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday after BMO Capital Markets lowered their price target on the stock from $27.00 to $23.00. BMO Capital Markets currently has an outperform rating on the stock. MediaAlpha traded as low as $8.17 and last traded at $8.09, with a volume of 241 shares. The stock had previously closed at $8.40.

Other equities analysts have also issued reports about the stock. Keefe, Bruyette & Woods decreased their target price on shares of MediaAlpha from $22.00 to $19.00 and set an "outperform" rating on the stock in a report on Tuesday, February 25th. JPMorgan Chase & Co. lowered their price target on 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 restated an "outperform" rating and issued a $20.00 price objective on shares of MediaAlpha in a report on Tuesday, February 25th. Canaccord Genuity Group dropped their price target on shares of MediaAlpha from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Monday, February 24th. Finally, The Goldman Sachs Group decreased their price objective on shares of MediaAlpha from $23.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $18.29.

Institutional Investors Weigh In On MediaAlpha

A number of hedge funds and other institutional investors have recently modified their holdings of MAX. Covestor Ltd lifted its stake in MediaAlpha by 44.1% during the fourth quarter. Covestor Ltd now owns 2,766 shares of the company's stock worth $31,000 after purchasing an additional 847 shares during the last quarter. Quarry LP grew its position in shares of MediaAlpha by 157.8% in the 3rd quarter. Quarry LP now owns 2,820 shares of the company's stock valued at $51,000 after buying an additional 1,726 shares during the last quarter. GAMMA Investing LLC lifted its position 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 acquiring an additional 2,896 shares during the last quarter. Virtus Fund Advisers LLC acquired a new position in MediaAlpha in the fourth quarter valued at $35,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of MediaAlpha during the fourth quarter worth about $67,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

MediaAlpha Price Performance

The firm has a market cap of $535.90 million, a price-to-earnings ratio of 47.24 and a beta of 1.11. The stock has a 50-day moving average price of $10.18 and a 200 day moving average price of $12.56.

MediaAlpha (NYSE:MAX - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.16). The firm had revenue of $300.65 million for the quarter, compared to analyst estimates of $289.38 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. As a group, equities research analysts predict that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

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.