MediaAlpha, Inc. (NYSE:MAX) Receives Consensus Recommendation of "Buy" from Brokerages

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) has been given a consensus recommendation of "Buy" by the six ratings firms that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $17.92.

MAX has been the topic of several research reports. The Goldman Sachs Group cut their price target on shares of MediaAlpha from $14.00 to $12.50 and set a "buy" rating on the stock in a report on Monday, April 14th. BMO Capital Markets dropped their price objective on shares of MediaAlpha from $27.00 to $23.00 and set an "outperform" rating on the stock in a research note on Thursday, April 3rd. Royal Bank Of Canada dropped their price objective on shares of MediaAlpha from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. JPMorgan Chase & Co. raised their price target on shares of MediaAlpha from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Finally, Keefe, Bruyette & Woods decreased their price target on shares of MediaAlpha from $19.00 to $16.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd.

MediaAlpha Stock Down 2.4%

Shares of MAX stock traded down $0.26 during trading hours on Thursday, hitting $10.46. 110,293 shares of the company were exchanged, compared to its average volume of 565,219. The firm has a market cap of $701.13 million, a PE ratio of 37.36 and a beta of 1.20. MediaAlpha has a 1 year low of $7.33 and a 1 year high of $20.91. The firm has a fifty day moving average of $10.49 and a 200 day moving average of $10.22.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). MediaAlpha had a net margin of 1.58% and a negative return on equity of 46.92%. The business had revenue of $264.31 million during the quarter, compared to analysts' expectations of $236.07 million. During the same quarter in the previous year, the business posted ($0.02) EPS. The company's quarterly revenue was up 108.7% on a year-over-year basis. Analysts expect that MediaAlpha will post 0.48 earnings per share for the current year.

Hedge Funds Weigh In On MediaAlpha

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in MediaAlpha by 8,775.8% in the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock worth $27,000 after purchasing an additional 2,896 shares during the period. Covestor Ltd boosted its holdings in MediaAlpha by 44.1% in the fourth quarter. Covestor Ltd now owns 2,766 shares of the company's stock worth $31,000 after purchasing an additional 847 shares during the period. Virtus Fund Advisers LLC acquired a new position in MediaAlpha in the fourth quarter worth $35,000. Quarry LP boosted its holdings in MediaAlpha by 107.1% in the fourth quarter. Quarry LP now owns 5,841 shares of the company's stock worth $66,000 after purchasing an additional 3,021 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in MediaAlpha in the fourth quarter worth $67,000. Institutional investors and hedge funds 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.