Keefe, Bruyette & Woods Issues Pessimistic Forecast for MediaAlpha (NYSE:MAX) Stock Price

MediaAlpha (NYSE:MAX - Get Free Report) had its price objective dropped by analysts at Keefe, Bruyette & Woods from $19.00 to $16.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 90.93% from the company's current price.

Several other equities research analysts have also recently commented on MAX. Royal Bank of Canada restated an "outperform" rating and issued a $20.00 target price on shares of MediaAlpha in a research note on Tuesday, February 25th. The Goldman Sachs Group reduced their target price on shares of MediaAlpha from $14.00 to $12.50 and set a "buy" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. lowered their price target on shares of MediaAlpha from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 25th. Canaccord Genuity Group reduced their price objective on shares of MediaAlpha from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Finally, BMO Capital Markets lowered their target price on MediaAlpha from $27.00 to $23.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $17.21.

MediaAlpha Trading Down 1.1 %

Shares of NYSE MAX traded down $0.09 during mid-day trading on Tuesday, reaching $8.38. 1,480,802 shares of the company's stock were exchanged, compared to its average volume of 663,357. The business has a fifty day simple moving average of $8.96 and a 200 day simple moving average of $11.64. MediaAlpha has a twelve month low of $7.33 and a twelve month high of $25.78. The firm has a market capitalization of $561.71 million, a price-to-earnings ratio of 49.29 and a beta of 1.11.

MediaAlpha (NYSE:MAX - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.08 earnings per share 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 company had revenue of $300.65 million during the quarter, compared to the consensus estimate of $289.38 million. Equities research analysts predict that MediaAlpha will post 0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MediaAlpha

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in MediaAlpha by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 3,623,344 shares of the company's stock worth $40,908,000 after buying an additional 169,654 shares during the last quarter. TimesSquare Capital Management LLC increased its holdings in shares of MediaAlpha by 77.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company's stock worth $18,389,000 after acquiring an additional 712,410 shares during the last quarter. Millennium Management LLC raised its stake in MediaAlpha by 91.0% in the 4th quarter. Millennium Management LLC now owns 781,349 shares of the company's stock valued at $8,821,000 after acquiring an additional 372,305 shares during the period. Geode Capital Management LLC lifted its holdings in MediaAlpha by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 698,703 shares of the company's stock valued at $7,890,000 after purchasing an additional 8,129 shares during the last quarter. Finally, State Street Corp lifted its holdings in MediaAlpha by 7.0% during the 3rd quarter. State Street Corp now owns 547,906 shares of the company's stock valued at $9,923,000 after purchasing an additional 35,960 shares during the last quarter. 64.39% of the stock is owned by 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.