MediaAlpha (NYSE:MAX) Receives “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of MediaAlpha (NYSE:MAX) in a research report report published on Tuesday,Benzinga reports. The brokerage currently has a $20.00 price objective on the stock.

A number of other research analysts have also weighed in on MAX. The Goldman Sachs Group dropped their price objective on shares of MediaAlpha from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. Canaccord Genuity Group dropped 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. Keefe, Bruyette & Woods dropped 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. Finally, JPMorgan Chase & Co. dropped their price objective on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, MediaAlpha has a consensus rating of “Moderate Buy” and an average price target of $19.00.

MediaAlpha Stock Down 19.0 %

Shares of NYSE MAX opened at $9.25 on Tuesday. The firm has a market cap of $616.38 million, a PE ratio of 54.39 and a beta of 1.12. MediaAlpha has a 12-month low of $8.69 and a 12-month high of $25.78. The company’s fifty day simple moving average is $11.49 and its 200 day simple moving average is $14.31.

MediaAlpha (NYSE:MAX) last issued its earnings results 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 company had revenue of $300.65 million for the quarter, compared to the consensus estimate of $289.38 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. On average, equities analysts predict 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 made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of MediaAlpha by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 3,623,344 shares of the company’s stock valued at $40,908,000 after purchasing an additional 169,654 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in shares of MediaAlpha by 77.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company’s stock valued at $18,389,000 after purchasing an additional 712,410 shares during the last quarter. Clearline Capital LP raised its holdings in shares of MediaAlpha by 115.3% in the third quarter. Clearline Capital LP now owns 1,241,419 shares of the company’s stock valued at $22,482,000 after purchasing an additional 664,691 shares during the last quarter. Millennium Management LLC increased its holdings in MediaAlpha by 91.0% during the fourth quarter. Millennium Management LLC now owns 781,349 shares of the company’s stock worth $8,821,000 after buying an additional 372,305 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in MediaAlpha by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 698,703 shares of the company’s stock worth $7,890,000 after buying an additional 8,129 shares during the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.