Keefe, Bruyette & Woods Issues Pessimistic Forecast for MediaAlpha (NYSE:MAX) Stock Price

MediaAlpha (NYSE:MAX) had its price objective decreased by Keefe, Bruyette & Woods from $26.00 to $22.00 in a research note published on Wednesday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the stock.

A number of other analysts also recently commented on MAX. Royal Bank of Canada reduced their price objective on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, December 4th. The Goldman Sachs Group raised their target price on MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.14.

MediaAlpha Price Performance

NYSE:MAX opened at $10.74 on Wednesday. MediaAlpha has a one year low of $10.21 and a one year high of $25.78. The company has a fifty day moving average price of $14.78 and a 200 day moving average price of $15.71. The stock has a market cap of $715.97 million, a P/E ratio of 63.18 and a beta of 1.10.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The business had revenue of $259.13 million during the quarter, compared to analyst estimates of $246.96 million. As a group, equities research analysts anticipate that MediaAlpha will post 0.42 EPS for the current year.

Insider Buying and Selling

In other news, insider Eugene Nonko sold 72,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total value of $1,488,240.00. Following the sale, the insider now owns 1,550,990 shares of the company’s stock, valued at approximately $32,058,963.30. This represents a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.53% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MediaAlpha

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP increased its holdings in shares of MediaAlpha by 157.8% during the third quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after buying an additional 1,726 shares in the last quarter. Point72 DIFC Ltd bought a new stake in MediaAlpha during the 2nd quarter worth approximately $65,000. Sandia Investment Management LP acquired a new stake in MediaAlpha during the 2nd quarter valued at $79,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in MediaAlpha by 354.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock valued at $114,000 after purchasing an additional 6,728 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in MediaAlpha in the 3rd quarter valued at $116,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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.