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

MediaAlpha (NYSE:MAX)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They currently have a $20.00 price target on the stock. Royal Bank of Canada’s target price points to a potential upside of 124.77% from the stock’s current price.

MAX has been the topic of a number of other reports. The Goldman Sachs Group reduced their price objective on shares of MediaAlpha from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. reduced their price target on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Canaccord Genuity Group cut their price objective on MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Keefe, Bruyette & Woods dropped their price target on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.29.

MediaAlpha Price Performance

NYSE:MAX traded down $2.51 during mid-day trading on Tuesday, reaching $8.90. 1,359,010 shares of the company’s stock traded hands, compared to its average volume of 403,148. The company has a 50 day moving average price of $11.54 and a 200-day moving average price of $14.35. The firm has a market capitalization of $593.18 million, a price-to-earnings 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.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data 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 business 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%. As a group, analysts forecast that MediaAlpha will post 0.48 EPS for the current year.

Hedge Funds Weigh In On MediaAlpha

Institutional investors and hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp raised its holdings in MediaAlpha by 354.3% in the 4th quarter. Mackenzie Financial Corp now owns 60,259 shares of the company’s stock worth $680,000 after acquiring an additional 46,996 shares during the last quarter. PharVision Advisers LLC purchased a new position in shares of MediaAlpha in the fourth quarter worth $279,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of MediaAlpha by 21.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,478 shares of the company’s stock worth $1,010,000 after purchasing an additional 16,050 shares during the last quarter. Virtus Fund Advisers LLC bought a new position in shares of MediaAlpha during the fourth quarter valued at $35,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of MediaAlpha during the fourth quarter valued at $172,000. 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.