MediaAlpha (NYSE:MAX) Sets New 1-Year Low Following Weak Earnings

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) shares hit a new 52-week low on Tuesday after the company announced weaker than expected quarterly earnings. The company traded as low as $9.49 and last traded at $9.05, with a volume of 518414 shares changing hands. The stock had previously closed at $11.41.

The company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $289.38 million.

Wall Street Analysts Forecast Growth

MAX has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target on shares of MediaAlpha from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Tuesday. Keefe, Bruyette & Woods lowered 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. The Goldman Sachs Group lowered their price objective on shares of MediaAlpha from $23.00 to $14.00 and set a "buy" rating on the stock in a research note on Tuesday. Royal Bank of Canada reissued an "outperform" rating and issued a $20.00 price objective on shares of MediaAlpha in a research note on Tuesday. Finally, Canaccord Genuity Group lowered their price objective on shares of MediaAlpha from $30.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, MediaAlpha currently has an average rating of "Moderate Buy" and a consensus price target of $17.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mackenzie Financial Corp lifted its holdings in MediaAlpha by 354.3% in the 4th quarter. Mackenzie Financial Corp now owns 60,259 shares of the company's stock valued at $680,000 after purchasing an additional 46,996 shares in the last quarter. PharVision Advisers LLC purchased a new position in MediaAlpha in the 4th quarter valued at about $279,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in MediaAlpha by 21.9% in 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 valued at $1,010,000 after purchasing an additional 16,050 shares in the last quarter. Virtus Fund Advisers LLC purchased a new position in MediaAlpha in the 4th quarter valued at about $35,000. Finally, Virtus Investment Advisers Inc. purchased a new position in MediaAlpha in the 4th quarter valued at about $172,000. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

MediaAlpha Stock Performance

The company has a market capitalization of $620.31 million, a PE ratio of 54.74 and a beta of 1.12. The stock's fifty day simple moving average is $11.37 and its 200-day simple moving average is $14.20.

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.