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

MediaAlpha (NYSE:MAX)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a note issued to investors on Tuesday,Benzinga reports. They presently have a $20.00 target price on the stock. Royal Bank of Canada’s price objective points to a potential upside of 124.77% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. 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. Keefe, Bruyette & Woods dropped their price objective on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday. Canaccord Genuity Group cut their price target on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a report on Monday. Finally, The Goldman Sachs Group dropped their price objective on MediaAlpha from $26.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.29.

MediaAlpha Stock Performance

MAX stock traded down $2.51 during mid-day trading on Tuesday, hitting $8.90. The company had a trading volume of 1,359,010 shares, compared to its average volume of 403,148. The firm has a market cap of $593.18 million, a PE ratio of 52.34 and a beta of 1.12. MediaAlpha has a 12 month low of $8.72 and a 12 month high of $25.78. The stock’s fifty day moving average price is $11.54 and its two-hundred day moving average price is $14.35.

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

Institutional Trading of MediaAlpha

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of MediaAlpha by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 3,623,344 shares of the company’s stock worth $40,908,000 after acquiring an additional 169,654 shares in the last quarter. TimesSquare Capital Management LLC grew its holdings in shares of MediaAlpha by 77.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company’s stock valued at $18,389,000 after purchasing an additional 712,410 shares during the last quarter. Clearline Capital LP raised its position in MediaAlpha by 115.3% in the 3rd quarter. Clearline Capital LP now owns 1,241,419 shares of the company’s stock worth $22,482,000 after purchasing an additional 664,691 shares during the period. Millennium Management LLC lifted its stake in MediaAlpha by 91.0% in the fourth quarter. Millennium Management LLC now owns 781,349 shares of the company’s stock worth $8,821,000 after purchasing an additional 372,305 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in MediaAlpha by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 698,703 shares of the company’s stock valued at $7,890,000 after acquiring an additional 8,129 shares during the period. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.