MediaAlpha (NYSE:MAX) Trading Down 7.1% - What's Next?

Key Points

• MediaAlpha's shares experienced a significant decline of 7.1%, trading as low as $10.10, amid low trading volume that was down 75% from the average.
• Multiple analysts have adjusted their price targets for MediaAlpha, with JPMorgan increasing it to $12.00, while Keefe, Bruyette & Woods decreased theirs to $16.00.
• The company's latest earnings report showed a revenue increase of 41.1% year-over-year, with earnings per share exceeding analysts' expectations at $0.17.

Shares of MediaAlpha, Inc. (NYSE:MAX - Get Free Report) traded down 7.1% during trading on Monday . The company traded as low as $10.10 and last traded at $10.17. 124,800 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 492,470 shares. The stock had previously closed at $10.95.

Analysts Set New Price Targets

MAX has been the topic of a number of research reports. JPMorgan Chase & Co. upped their target price on MediaAlpha from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods dropped their price objective on MediaAlpha from $19.00 to $16.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group decreased their price objective on MediaAlpha from $14.00 to $12.50 and set a "buy" rating on the stock in a report on Monday, April 14th. Wall Street Zen cut MediaAlpha from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Royal Bank Of Canada dropped their price target on MediaAlpha from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.92.

MediaAlpha Stock Performance

The company has a market capitalization of $645.10 million, a price-to-earnings ratio of -80.16 and a beta of 1.19. The stock's 50-day moving average price is $10.59 and its 200-day moving average price is $10.09.

MediaAlpha (NYSE:MAX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. The firm had revenue of $251.62 million during the quarter, compared to analysts' expectations of $248.80 million. MediaAlpha had a negative net margin of 0.61% and a negative return on equity of 62.53%. The firm's revenue was up 41.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.07 EPS. Analysts anticipate that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

Institutional Investors Weigh In On MediaAlpha

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MAX. Clearline Capital LP lifted its holdings in MediaAlpha by 123.4% during the 1st quarter. Clearline Capital LP now owns 2,654,921 shares of the company's stock valued at $24,531,000 after purchasing an additional 1,466,760 shares during the last quarter. Broad Bay Capital Management LP boosted its holdings in shares of MediaAlpha by 23.8% in the first quarter. Broad Bay Capital Management LP now owns 2,747,778 shares of the company's stock valued at $25,389,000 after buying an additional 529,093 shares during the period. Nuveen LLC acquired a new position in MediaAlpha during the first quarter worth $4,675,000. Jacobs Levy Equity Management Inc. raised its position in MediaAlpha by 2,683.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 476,342 shares of the company's stock worth $5,378,000 after acquiring an additional 459,227 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in shares of MediaAlpha by 570.7% in the fourth quarter. AQR Capital Management LLC now owns 472,215 shares of the company's stock valued at $5,331,000 after purchasing an additional 401,807 shares during the period. 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.

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