MediaAlpha (NYSE:MAX) Trading 4.3% Higher – What’s Next?

MediaAlpha, Inc. (NYSE:MAX)’s stock price was up 4.3% during trading on Tuesday . The stock traded as high as $10.30 and last traded at $10.33. Approximately 51,841 shares traded hands during trading, a decline of 92% from the average daily volume of 620,886 shares. The stock had previously closed at $9.91.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 target price on shares of MediaAlpha in a research note on Tuesday, February 25th. The Goldman Sachs Group lowered their price objective on shares of MediaAlpha from $23.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods reduced their price target on shares of MediaAlpha from $22.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. Canaccord Genuity Group lowered their target price on MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. reduced their price target on MediaAlpha from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.50.

MediaAlpha Stock Up 1.9 %

The stock’s 50 day moving average price is $10.68 and its two-hundred day moving average price is $13.18. The stock has a market cap of $679.89 million, a price-to-earnings ratio of 59.66 and a beta of 1.15.

MediaAlpha (NYSE:MAX) last posted its 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). 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%. On average, analysts predict that MediaAlpha, Inc. will post 0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position 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 buying an additional 169,654 shares in the last quarter. TimesSquare Capital Management LLC grew its position 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 period. Clearline Capital LP grew its position 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 period. Millennium Management LLC raised its position in shares of MediaAlpha by 91.0% during the 4th quarter. Millennium Management LLC now owns 781,349 shares of the company’s stock worth $8,821,000 after purchasing an additional 372,305 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in MediaAlpha by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 698,703 shares of the company’s stock valued at $7,890,000 after buying an additional 8,129 shares in 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.