MediaAlpha (NYSE:MAX) Stock Price Down 10.6% – Time to Sell?

MediaAlpha, Inc. (NYSE:MAX) shares traded down 10.6% during trading on Thursday . The stock traded as low as $18.12 and last traded at $18.53. 342,343 shares changed hands during trading, a decline of 38% from the average session volume of 550,417 shares. The stock had previously closed at $20.73.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MAX shares. The Goldman Sachs Group assumed coverage on shares of MediaAlpha in a research note on Tuesday, August 20th. They issued a “buy” rating and a $20.00 price objective for the company. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $26.00 price objective (up previously from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.29.

MediaAlpha Stock Performance

The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -63.10 and a beta of 1.22. The company has a fifty day simple moving average of $18.07 and a 200 day simple moving average of $17.24.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. The company had revenue of $259.13 million during the quarter, compared to the consensus estimate of $246.96 million. As a group, equities analysts predict that MediaAlpha, Inc. will post 0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in MediaAlpha by 5.1% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,890 shares of the company’s stock valued at $315,000 after acquiring an additional 1,150 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of MediaAlpha by 9.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock valued at $292,000 after acquiring an additional 1,235 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of MediaAlpha by 7.1% during the second quarter. Hsbc Holdings PLC now owns 23,791 shares of the company’s stock worth $312,000 after purchasing an additional 1,582 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its position in MediaAlpha by 0.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 375,509 shares of the company’s stock valued at $7,649,000 after purchasing an additional 1,667 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of MediaAlpha by 7.3% during the 2nd quarter. Rhumbline Advisers now owns 36,751 shares of the company’s stock valued at $484,000 after buying an additional 2,511 shares in the last quarter. 64.39% of the stock is currently owned by hedge funds and other 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.