MediaAlpha (NYSE:MAX) Trading 7% Higher - Still a Buy?

MediaAlpha, Inc. (NYSE:MAX - Get Free Report)'s share price was up 7% during mid-day trading on Wednesday . The company traded as high as $11.01 and last traded at $11.08. Approximately 35,956 shares were traded during trading, a decline of 94% from the average daily volume of 565,630 shares. The stock had previously closed at $10.36.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MAX shares. Keefe, Bruyette & Woods reduced their target price on shares of MediaAlpha from $19.00 to $16.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. increased their target price on shares of MediaAlpha from $10.00 to $12.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. BMO Capital Markets reduced their target price on shares of MediaAlpha from $27.00 to $23.00 and set an "outperform" rating on the stock in a report on Thursday, April 3rd. Royal Bank Of Canada reduced their target price on shares of MediaAlpha from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Finally, The Goldman Sachs Group reduced their target price 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. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, MediaAlpha presently has an average rating of "Buy" and an average target price of $17.92.

MediaAlpha Stock Performance

The stock's 50-day moving average is $10.50 and its 200 day moving average is $10.21. The stock has a market capitalization of $692.42 million, a PE ratio of 36.89 and a beta of 1.20.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MAX. Bank of New York Mellon Corp grew its position in MediaAlpha by 17.4% during the 4th quarter. Bank of New York Mellon Corp now owns 89,949 shares of the company's stock worth $1,016,000 after purchasing an additional 13,356 shares during the last quarter. US Bancorp DE boosted its holdings in shares of MediaAlpha by 35.6% in the fourth quarter. US Bancorp DE now owns 23,547 shares of the company's stock valued at $266,000 after acquiring an additional 6,184 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of MediaAlpha by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 324,497 shares of the company's stock valued at $3,664,000 after acquiring an additional 50,553 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of MediaAlpha by 135.2% in the fourth quarter. Victory Capital Management Inc. now owns 85,564 shares of the company's stock valued at $966,000 after acquiring an additional 49,192 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of MediaAlpha by 65.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 67,832 shares of the company's stock valued at $766,000 after acquiring an additional 26,771 shares in the last quarter. 64.39% of the stock is owned by hedge funds and other 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.