Keefe, Bruyette & Woods Has Lowered Expectations for MediaAlpha (NYSE:MAX) Stock Price

MediaAlpha (NYSE:MAX) had its price objective cut by Keefe, Bruyette & Woods from $22.00 to $19.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 65.94% from the stock’s current price.

Several other equities research analysts have also commented on MAX. JPMorgan Chase & Co. dropped their price target on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Canaccord Genuity Group cut their target price on MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday. Royal Bank of Canada decreased their price target on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group reduced their price objective on shares of MediaAlpha from $26.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $20.57.

MediaAlpha Trading Up 0.4 %

Shares of MediaAlpha stock opened at $11.45 on Tuesday. MediaAlpha has a twelve month low of $10.21 and a twelve month high of $25.78. The stock has a market capitalization of $763.30 million, a price-to-earnings ratio of 67.35 and a beta of 1.12. The business’s 50 day simple moving average is $11.54 and its 200-day simple moving average is $14.35.

MediaAlpha (NYSE:MAX) last posted its earnings results on Monday, February 24th. The company reported $0.08 earnings per share (EPS) 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%. Sell-side analysts predict that MediaAlpha will post 0.48 earnings per share for the current year.

Institutional Investors Weigh In On MediaAlpha

Several hedge funds and other institutional investors have recently bought and sold shares of MAX. Geode Capital Management LLC boosted its position in shares of MediaAlpha by 28.9% during the 3rd quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock valued at $12,509,000 after purchasing an additional 154,637 shares in the last quarter. Barclays PLC boosted its holdings in MediaAlpha by 423.2% during the third quarter. Barclays PLC now owns 66,525 shares of the company’s stock worth $1,204,000 after buying an additional 53,809 shares in the last quarter. GSA Capital Partners LLP acquired a new position in MediaAlpha in the third quarter worth approximately $804,000. JPMorgan Chase & Co. increased its holdings in shares of MediaAlpha by 655.8% in the third quarter. JPMorgan Chase & Co. now owns 80,071 shares of the company’s stock valued at $1,450,000 after buying an additional 69,477 shares in the last quarter. Finally, PDT Partners LLC acquired a new stake in shares of MediaAlpha during the 3rd quarter valued at $1,237,000. 64.39% of the stock is currently owned by 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.