MediaAlpha (NYSE:MAX) Hits New 12-Month Low – What’s Next?

MediaAlpha, Inc. (NYSE:MAX) reached a new 52-week low during trading on Thursday . The company traded as low as $7.47 and last traded at $8.14, with a volume of 1205688 shares changing hands. The stock had previously closed at $7.67.

Analysts Set New Price Targets

A number of research analysts have commented on MAX shares. JPMorgan Chase & Co. cut their target price on shares of MediaAlpha from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. The Goldman Sachs Group cut their target price on shares of MediaAlpha from $23.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods lowered their price target on shares of MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. BMO Capital Markets lowered their price target on shares of MediaAlpha from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, April 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price target on shares of MediaAlpha in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.29.

MediaAlpha Trading Up 6.1 %

The company has a market capitalization of $545.62 million, a price-to-earnings ratio of 47.88 and a beta of 1.11. The firm’s fifty day simple moving average is $10.05 and its two-hundred day simple moving average is $12.47.

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 during the quarter, compared to analyst estimates of $289.38 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. As a group, analysts forecast that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On MediaAlpha

Large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its position in shares of MediaAlpha by 8,775.8% in the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company’s stock valued at $27,000 after purchasing an additional 2,896 shares during the last quarter. Covestor Ltd grew its position in shares of 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 buying an additional 847 shares during the last quarter. Virtus Fund Advisers LLC purchased a new position in shares of MediaAlpha in the 4th quarter valued at $35,000. Quarry LP grew its position in shares of MediaAlpha by 157.8% in the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock valued at $51,000 after buying an additional 1,726 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of MediaAlpha in the 4th quarter valued at $67,000. 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.