MediaAlpha (NYSE:MAX) Trading Down 5.8% - Here's What Happened

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) traded down 5.8% during trading on Tuesday . The stock traded as low as $12.06 and last traded at $12.05. 83,434 shares were traded during trading, a decline of 76% from the average session volume of 352,618 shares. The stock had previously closed at $12.78.

Analyst Ratings Changes

A number of brokerages recently issued reports on MAX. JPMorgan Chase & Co. cut their price objective on MediaAlpha from $25.00 to $15.00 and set an "overweight" rating for the company in a research note on Friday, January 10th. Keefe, Bruyette & Woods cut their price objective on MediaAlpha from $26.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday, December 11th. Royal Bank of Canada cut their price objective on MediaAlpha from $23.00 to $20.00 and set an "outperform" rating for the company in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group cut their price objective on MediaAlpha from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.57.

MediaAlpha Trading Down 3.1 %

The firm has a market capitalization of $759.92 million, a P/E ratio of 67.06 and a beta of 1.12. The company has a 50 day simple moving average of $11.53 and a two-hundred day simple moving average of $14.41.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MAX. Allspring Global Investments Holdings LLC bought a new position in shares of MediaAlpha during the 3rd quarter valued at approximately $491,000. Robeco Institutional Asset Management B.V. bought a new position in shares of MediaAlpha during the 3rd quarter valued at approximately $221,000. Los Angeles Capital Management LLC boosted its position in shares of MediaAlpha by 91.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 55,183 shares of the company's stock valued at $999,000 after acquiring an additional 26,420 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of MediaAlpha during the 3rd quarter valued at approximately $804,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of MediaAlpha during the 3rd quarter valued at approximately $744,000. 64.39% of the stock is currently owned by 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.