MediaAlpha's (MAX) Outperform Rating Reiterated at Royal Bank of Canada

MediaAlpha (NYSE:MAX - Get Free Report)'s stock had its "outperform" rating reiterated by analysts at Royal Bank of Canada in a report released on Tuesday,Benzinga reports. They presently have a $20.00 target price on the stock. Royal Bank of Canada's target price indicates a potential upside of 114.94% from the stock's previous close.

A number of other research analysts also recently commented on MAX. Keefe, Bruyette & Woods dropped their target price on shares of MediaAlpha from $22.00 to $19.00 and set an "outperform" rating on the stock in a research report on Tuesday. The Goldman Sachs Group cut their target price on MediaAlpha from $26.00 to $23.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. reduced their target price on MediaAlpha from $25.00 to $15.00 and set an "overweight" rating for the company in a report on Friday, January 10th. Finally, Canaccord Genuity Group dropped their price target on MediaAlpha from $30.00 to $26.00 and set a "buy" rating on the stock in a research note on Monday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, MediaAlpha has a consensus rating of "Moderate Buy" and a consensus price target of $17.50.

MediaAlpha Price Performance

Shares of MediaAlpha stock traded down $0.07 during trading on Tuesday, hitting $9.31. 526,649 shares of the stock were exchanged, compared to its average volume of 481,040. The firm's 50-day moving average price is $11.37 and its 200 day moving average price is $14.20. The stock has a market cap of $620.31 million, a price-to-earnings ratio of 54.74 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 released its quarterly earnings data 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 business 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, research analysts forecast that MediaAlpha will post 0.48 earnings per share for the current year.

Institutional Investors Weigh In On MediaAlpha

Hedge funds have recently made changes to their positions in the business. Covestor Ltd increased its position in MediaAlpha by 44.1% in the 4th quarter. Covestor Ltd now owns 2,766 shares of the company's stock valued at $31,000 after acquiring an additional 847 shares during the period. Virtus Fund Advisers LLC purchased a new position in shares of MediaAlpha in the 4th quarter valued at approximately $35,000. Quarry LP increased its holdings in shares of MediaAlpha by 157.8% in the third quarter. Quarry LP now owns 2,820 shares of the company's stock valued at $51,000 after purchasing an additional 1,726 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of MediaAlpha in the fourth quarter valued at approximately $67,000. Finally, Walleye Capital LLC purchased a new stake in shares of MediaAlpha during the fourth quarter worth approximately $132,000. Institutional investors and hedge funds own 64.39% of the company's stock.

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.