MediaAlpha (NYSE:MAX) Stock Price Up 4.3% – Here’s What Happened

MediaAlpha, Inc. (NYSE:MAX) shares traded up 4.3% during trading on Tuesday . The stock traded as high as $10.30 and last traded at $10.33. 51,841 shares changed hands during trading, a decline of 92% from the average session volume of 620,886 shares. The stock had previously closed at $9.91.

Analyst Ratings Changes

A number of research analysts have weighed in on MAX shares. Keefe, Bruyette & Woods decreased their price objective on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. Canaccord Genuity Group cut their price objective on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a report on Monday, February 24th. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 target price on shares of MediaAlpha in a research note on Tuesday, February 25th. The Goldman Sachs Group dropped their price target on MediaAlpha from $23.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Finally, JPMorgan Chase & Co. cut their price target on MediaAlpha from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, MediaAlpha presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

MediaAlpha Price Performance

The business has a fifty day moving average of $10.68 and a 200 day moving average of $13.18. The stock has a market capitalization of $679.89 million, a price-to-earnings ratio of 59.66 and a beta of 1.15.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The company had revenue of $300.65 million for the quarter, compared to analyst estimates of $289.38 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. On average, equities research analysts expect that MediaAlpha, Inc. will post 0.48 EPS for the current year.

Institutional Trading of MediaAlpha

Hedge funds have recently modified their holdings of the stock. Hillsdale Investment Management Inc. grew its stake in MediaAlpha by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 208,900 shares of the company’s stock worth $2,358,000 after purchasing an additional 800 shares in the last quarter. Covestor Ltd increased its stake in shares of MediaAlpha by 44.1% during the fourth quarter. Covestor Ltd now owns 2,766 shares of the company’s stock worth $31,000 after buying an additional 847 shares during the period. Earnest Partners LLC raised its holdings in MediaAlpha by 0.4% in the fourth quarter. Earnest Partners LLC now owns 241,559 shares of the company’s stock valued at $2,727,000 after acquiring an additional 1,021 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in MediaAlpha by 11.9% in the third quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock worth $206,000 after acquiring an additional 1,213 shares during the last quarter. Finally, Quarry LP grew its holdings in MediaAlpha by 157.8% during the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after acquiring an additional 1,726 shares in the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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.