Keefe, Bruyette & Woods Issues Pessimistic Forecast for MediaAlpha (NYSE:MAX) Stock Price

MediaAlpha (NYSE:MAX) had its price target reduced by Keefe, Bruyette & Woods from $22.00 to $19.00 in a research note released on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts also recently issued reports on MAX. JPMorgan Chase & Co. decreased their price target on MediaAlpha from $25.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, January 10th. The Goldman Sachs Group reduced their target price on MediaAlpha from $26.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Royal Bank of Canada reduced their target price on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, December 4th. Finally, Canaccord Genuity Group reduced their target price on MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a report on Monday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

MediaAlpha Price Performance

Shares of NYSE MAX opened at $9.25 on Tuesday. The company has a market capitalization of $616.38 million, a price-to-earnings ratio of 54.39 and a beta of 1.12. The business has a 50-day moving average of $11.49 and a two-hundred day moving average of $14.31. MediaAlpha has a 1 year low of $8.69 and a 1 year high of $25.78.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results 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 business had revenue of $300.65 million for the quarter, compared to analysts’ expectations 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 expect that MediaAlpha will post 0.48 earnings per share for the current year.

Institutional Trading of MediaAlpha

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAX. TimesSquare Capital Management LLC raised its stake in MediaAlpha by 77.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company’s stock valued at $18,389,000 after acquiring an additional 712,410 shares during the last quarter. Clearline Capital LP grew its holdings in shares of MediaAlpha by 115.3% in the 3rd quarter. Clearline Capital LP now owns 1,241,419 shares of the company’s stock worth $22,482,000 after acquiring an additional 664,691 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in shares of MediaAlpha by 2,683.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 476,342 shares of the company’s stock worth $5,378,000 after acquiring an additional 459,227 shares during the period. AQR Capital Management LLC grew its holdings in shares of MediaAlpha by 570.7% in the 4th quarter. AQR Capital Management LLC now owns 472,215 shares of the company’s stock worth $5,331,000 after acquiring an additional 401,807 shares during the period. Finally, CenterBook Partners LP grew its holdings in shares of MediaAlpha by 485.7% in the 4th quarter. CenterBook Partners LP now owns 471,864 shares of the company’s stock worth $5,327,000 after acquiring an additional 391,298 shares during the period. 64.39% of the stock is owned by hedge funds and other institutional investors.

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.