MediaAlpha (NYSE:MAX) Given New $23.00 Price Target at BMO Capital Markets

by · The Cerbat Gem

MediaAlpha (NYSE:MAX – Get Free Report) had its target price lowered by investment analysts at BMO Capital Markets from $27.00 to $23.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. BMO Capital Markets’ price target indicates a potential upside of 173.16% from the company’s current price.

A number of other analysts have also issued reports on MAX. JPMorgan Chase & Co. decreased their price objective on MediaAlpha from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note 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 for the company in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods decreased their price target on shares of MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. Royal Bank of Canada restated an “outperform” rating and set a $20.00 target price on shares of MediaAlpha in a report on Tuesday, February 25th. Finally, Canaccord Genuity Group cut their price target on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, MediaAlpha has an average rating of “Moderate Buy” and a consensus price target of $18.29.

Check Out Our Latest Analysis on MediaAlpha

MediaAlpha Stock Down 5.9 %

MAX stock traded down $0.53 during mid-day trading on Thursday, reaching $8.42. 74,898 shares of the company traded hands, compared to its average volume of 639,790. The stock has a market cap of $564.39 million, a price-to-earnings ratio of 49.53 and a beta of 1.15. MediaAlpha has a fifty-two week low of $7.87 and a fifty-two week high of $25.78. The firm’s 50 day moving average price is $10.51 and its 200 day moving average price is $12.90.

MediaAlpha (NYSE:MAX – Get Free Report) last announced its 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 business 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 anticipate that MediaAlpha will post 0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On MediaAlpha

Hedge funds have recently modified their holdings of the stock. Covestor Ltd raised its holdings in shares of MediaAlpha by 44.1% during the 4th quarter. Covestor Ltd now owns 2,766 shares of the company’s stock worth $31,000 after acquiring an additional 847 shares in the last quarter. Virtus Fund Advisers LLC purchased a new position in MediaAlpha during the 4th quarter valued at $35,000. Quarry LP boosted its stake in shares of MediaAlpha by 157.8% during the third quarter. Quarry LP now owns 2,820 shares of the company’s stock valued at $51,000 after purchasing an additional 1,726 shares during the period. KLP Kapitalforvaltning AS bought a new position in MediaAlpha in the 4th quarter worth about $67,000. Finally, Walleye Capital LLC bought a new stake in shares of MediaAlpha during the fourth quarter valued at approximately $132,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

MediaAlpha Company Profile

(Get Free Report)

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.

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