MediaAlpha (NYSE:MAX) Stock Price Up 4.3% - What's Next?

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) shares shot up 4.3% during mid-day trading on Tuesday . The stock traded as high as $10.30 and last traded at $10.33. Approximately 51,841 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 620,886 shares. The stock had previously closed at $9.91.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. 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 target price on MediaAlpha from $23.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, February 25th. Canaccord Genuity Group cut their price objective on MediaAlpha from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. reduced their price objective on MediaAlpha from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $20.00 target price on shares of MediaAlpha in a research report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.50.

MediaAlpha Stock Performance

The firm has a fifty day moving average of $10.62 and a 200 day moving average of $13.10. The firm has a market capitalization of $626.46 million, a PE ratio of 54.98 and a beta of 1.15.

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

Institutional Trading of MediaAlpha

Several large investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. purchased a new position in MediaAlpha in the third quarter valued at about $744,000. Charles Schwab Investment Management Inc. boosted its stake in shares of MediaAlpha by 35.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 273,944 shares of the company's stock valued at $4,961,000 after buying an additional 71,676 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of MediaAlpha during the third quarter worth approximately $262,000. The Manufacturers Life Insurance Company increased its stake in shares of MediaAlpha by 11.9% in the third quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company's stock worth $206,000 after buying an additional 1,213 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in MediaAlpha by 37.8% in the third quarter. Quantbot Technologies LP now owns 26,096 shares of the company's stock valued at $473,000 after acquiring an additional 7,154 shares in the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

About MediaAlpha

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.