Royal Bank of Canada Reaffirms “Outperform” Rating for MediaAlpha (NYSE:MAX)

Royal Bank of Canada reaffirmed their outperform rating on shares of MediaAlpha (NYSE:MAX) in a research note issued to investors on Tuesday morning,Benzinga reports. Royal Bank of Canada currently has a $20.00 target price on the stock.

A number of other equities analysts have also commented on the stock. The Goldman Sachs Group cut their price objective on shares of MediaAlpha from $26.00 to $23.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. JPMorgan Chase & Co. dropped their target price on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Canaccord Genuity Group dropped their target price on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Monday. Finally, Keefe, Bruyette & Woods dropped their target price on shares of MediaAlpha from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, MediaAlpha currently has an average rating of “Moderate Buy” and an average target price of $19.00.

MediaAlpha Trading Down 19.0 %

MAX stock opened at $9.25 on Tuesday. The firm has a 50 day moving average of $11.49 and a 200-day moving average of $14.31. MediaAlpha has a 12 month low of $8.69 and a 12 month high of $25.78. The firm has a market capitalization of $616.38 million, a P/E ratio of 54.39 and a beta of 1.12.

MediaAlpha (NYSE:MAX) last released its quarterly earnings data on Monday, February 24th. The company reported $0.08 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%. The firm had revenue of $300.65 million during the quarter, compared to the consensus estimate of $289.38 million. Sell-side analysts predict that MediaAlpha will post 0.48 EPS for the current year.

Institutional Investors Weigh In On MediaAlpha

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of MediaAlpha in the 3rd quarter worth approximately $491,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of MediaAlpha in the 3rd quarter worth approximately $221,000. Los Angeles Capital Management LLC lifted its holdings in shares of MediaAlpha by 91.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 55,183 shares of the company’s stock worth $999,000 after acquiring an additional 26,420 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of MediaAlpha in the 3rd quarter worth approximately $804,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of MediaAlpha in the 3rd quarter worth approximately $744,000. 64.39% of the stock is currently 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.