MediaAlpha (NYSE:MAX) Price Target Cut to $19.00 by Analysts at Keefe, Bruyette & Woods

MediaAlpha (NYSE:MAX) had its price target lowered by analysts at Keefe, Bruyette & Woods from $22.00 to $19.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective indicates a potential upside of 109.94% from the stock’s current price.

MAX has been the topic of a number of other reports. Canaccord Genuity Group lowered their price target on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday. JPMorgan Chase & Co. lowered their target price on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. The Goldman Sachs Group reduced their price target on shares of MediaAlpha from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada lowered their price target on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.50.

MediaAlpha Price Performance

Shares of MediaAlpha stock opened at $9.05 on Tuesday. The firm’s fifty day simple moving average is $11.45 and its 200-day simple moving average is $14.28. MediaAlpha has a 12 month low of $8.69 and a 12 month high of $25.78. The stock has a market capitalization of $603.31 million, a price-to-earnings ratio of 53.24 and a beta of 1.12.

MediaAlpha (NYSE:MAX) last announced its earnings results on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $289.38 million. Analysts anticipate that MediaAlpha will post 0.48 earnings per share for the current year.

Institutional Investors Weigh In On MediaAlpha

A number of institutional investors and hedge funds have recently bought and sold shares of MAX. Geode Capital Management LLC raised its holdings in shares of MediaAlpha by 28.9% in the third quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock worth $12,509,000 after acquiring an additional 154,637 shares during the last quarter. Barclays PLC increased its position in MediaAlpha by 423.2% during the 3rd quarter. Barclays PLC now owns 66,525 shares of the company’s stock worth $1,204,000 after purchasing an additional 53,809 shares in the last quarter. GSA Capital Partners LLP acquired a new position in MediaAlpha in the 3rd quarter valued at about $804,000. JPMorgan Chase & Co. lifted its holdings in MediaAlpha by 655.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,071 shares of the company’s stock valued at $1,450,000 after purchasing an additional 69,477 shares in the last quarter. Finally, PDT Partners LLC purchased a new position in MediaAlpha in the 3rd quarter valued at about $1,237,000. Hedge funds and other institutional investors 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.