MediaAlpha (NYSE:MAX) Stock Price Up 4.3% – Time to Buy?

MediaAlpha, Inc. (NYSE:MAX)’s stock price rose 4.3% during mid-day trading on Tuesday . The company traded as high as $10.30 and last traded at $10.33. Approximately 51,841 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 620,886 shares. The stock had previously closed at $9.91.

Analyst Ratings Changes

MAX has been the subject of several recent research reports. Canaccord Genuity Group decreased their price target on MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a report on Monday, February 24th. JPMorgan Chase & Co. lowered their target price on shares of MediaAlpha from $15.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. The Goldman Sachs Group cut their price target on shares of MediaAlpha from $23.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. Keefe, Bruyette & Woods lowered 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 target price on shares of MediaAlpha in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.50.

MediaAlpha Stock Up 1.1 %

The business’s fifty day moving average is $10.73 and its 200 day moving average is $13.25. The stock has a market cap of $671.64 million, a PE ratio of 58.94 and a beta of 1.15.

MediaAlpha (NYSE:MAX) last released 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 firm had revenue of $300.65 million during the quarter, compared to analyst estimates 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 predict that MediaAlpha, Inc. will post 0.48 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC grew its stake in MediaAlpha by 28.9% in the 3rd quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock valued at $12,509,000 after acquiring an additional 154,637 shares during the last quarter. Barclays PLC lifted its holdings in shares of MediaAlpha by 423.2% in the third quarter. Barclays PLC now owns 66,525 shares of the company’s stock valued at $1,204,000 after purchasing an additional 53,809 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of MediaAlpha by 655.8% in the third quarter. JPMorgan Chase & Co. now owns 80,071 shares of the company’s stock valued at $1,450,000 after purchasing an additional 69,477 shares during the last quarter. PDT Partners LLC purchased a new position in shares of MediaAlpha during the 3rd quarter worth approximately $1,237,000. Finally, Rhumbline Advisers raised its position in shares of MediaAlpha by 4.3% during the 4th quarter. Rhumbline Advisers now owns 43,431 shares of the company’s stock worth $490,000 after purchasing an additional 1,782 shares during the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.