MediaAlpha (NYSE:MAX) Hits New 12-Month Low – Should You Sell?

Shares of MediaAlpha, Inc. (NYSE:MAX) hit a new 52-week low during trading on Monday . The company traded as low as $8.42 and last traded at $8.53, with a volume of 71838 shares. The stock had previously closed at $8.75.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MAX shares. JPMorgan Chase & Co. decreased their price target on shares of MediaAlpha from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods dropped their target price on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. The Goldman Sachs Group decreased their price objective on MediaAlpha from $23.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Royal Bank of Canada restated an “outperform” rating and set a $20.00 price target on shares of MediaAlpha in a research report on Tuesday, February 25th. Finally, Canaccord Genuity Group cut their price objective on MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.50.

MediaAlpha Trading Down 5.2 %

The firm’s 50-day simple moving average is $11.16 and its two-hundred day simple moving average is $13.88. The stock has a market capitalization of $556.01 million, a PE ratio of 48.79 and a beta of 1.15.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.16). MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The business had revenue of $300.65 million for the quarter, compared to analyst estimates of $289.38 million. As a group, research analysts expect that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

Institutional Trading of MediaAlpha

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. lifted its holdings in MediaAlpha by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 208,900 shares of the company’s stock worth $2,358,000 after purchasing an additional 800 shares during the last quarter. Covestor Ltd raised its position in shares of MediaAlpha by 44.1% in the fourth quarter. Covestor Ltd now owns 2,766 shares of the company’s stock valued at $31,000 after purchasing an additional 847 shares during the period. Earnest Partners LLC lifted its stake in shares of MediaAlpha by 0.4% in the fourth quarter. Earnest Partners LLC now owns 241,559 shares of the company’s stock worth $2,727,000 after buying an additional 1,021 shares during the last quarter. The Manufacturers Life Insurance Company lifted 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, Quarry LP boosted its holdings in shares of MediaAlpha by 157.8% during the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after buying an additional 1,726 shares during the period. 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.