Canaccord Genuity Group Cuts MediaAlpha (NYSE:MAX) Price Target to $26.00

MediaAlpha (NYSE:MAX) had its price objective reduced by research analysts at Canaccord Genuity Group from $30.00 to $26.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 181.20% from the company’s previous close.

MAX has been the subject of a number of other reports. Keefe, Bruyette & Woods reduced their target price on shares of MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. The Goldman Sachs Group reduced their price objective on shares of MediaAlpha from $26.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Royal Bank of Canada lowered their target price on shares of MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. dropped their price target 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, MediaAlpha currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

MediaAlpha Stock Down 19.0 %

Shares of NYSE MAX opened at $9.25 on Monday. The stock has a market capitalization of $616.38 million, a P/E ratio of 54.39 and a beta of 1.12. The firm’s 50-day moving average price is $11.49 and its two-hundred day moving average price is $14.31. MediaAlpha has a 52-week low of $8.69 and a 52-week high of $25.78.

MediaAlpha (NYSE:MAX) last announced its quarterly 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 during 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%. As a group, equities research analysts expect that MediaAlpha will post 0.48 earnings per share for the current year.

Institutional Trading of MediaAlpha

Hedge funds and other institutional investors have recently made changes to their positions in the business. Covestor Ltd boosted its holdings in MediaAlpha by 44.1% during the fourth quarter. Covestor Ltd now owns 2,766 shares of the company’s stock worth $31,000 after buying an additional 847 shares in the last quarter. Virtus Fund Advisers LLC bought a new position in shares of MediaAlpha in the fourth quarter valued at $35,000. Quarry LP lifted its position in shares of MediaAlpha by 157.8% during the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock valued at $51,000 after acquiring an additional 1,726 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of MediaAlpha during the 4th quarter worth $67,000. Finally, Walleye Capital LLC bought a new stake in shares of MediaAlpha during the 4th quarter worth $132,000. 64.39% of the stock is currently owned by institutional investors.

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.