MediaAlpha (NYSE:MAX) Hits New 1-Year Low Following Weak Earnings

MediaAlpha, Inc. (NYSE:MAX) reached a new 52-week low on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $9.49 and last traded at $9.05, with a volume of 518414 shares trading hands. The stock had previously closed at $11.41.

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%.

Analyst Upgrades and Downgrades

MAX has been the subject of a number of research analyst reports. Royal Bank of Canada decreased their target price on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, December 4th. JPMorgan Chase & Co. reduced their price target 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 lowered their price objective on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Monday. The Goldman Sachs Group decreased their target price 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. Finally, Keefe, Bruyette & Woods dropped their price target on shares of MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.57.

Institutional Investors Weigh In On MediaAlpha

A number of hedge funds have recently modified their holdings of MAX. Mackenzie Financial Corp increased its position in MediaAlpha by 354.3% in the fourth quarter. Mackenzie Financial Corp now owns 60,259 shares of the company’s stock worth $680,000 after buying an additional 46,996 shares during the last quarter. PharVision Advisers LLC bought a new position in shares of MediaAlpha during the 4th quarter worth $279,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in MediaAlpha by 21.9% in the 4th 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 acquiring an additional 16,050 shares during the last quarter. Virtus Fund Advisers LLC bought a new stake in MediaAlpha in the 4th quarter valued at about $35,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in MediaAlpha during the fourth quarter valued at about $172,000. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Stock Down 18.9 %

The company has a market cap of $616.71 million, a P/E ratio of 53.06 and a beta of 1.12. The firm’s 50-day moving average price is $11.54 and its 200-day moving average price is $14.35.

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.