MediaAlpha (NYSE:MAX) Price Target Lowered to $26.00 at Canaccord Genuity Group

MediaAlpha (NYSE:MAX) had its target price reduced by Canaccord Genuity Group from $30.00 to $26.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 128.07% from the company’s previous close.

A number of other equities analysts have also recently commented on MAX. JPMorgan Chase & Co. dropped their price objective on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Royal Bank of Canada dropped their price target on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, December 4th. Keefe, Bruyette & Woods lowered their price objective on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. Finally, The Goldman Sachs Group cut their target price on MediaAlpha from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

MediaAlpha Stock Performance

NYSE MAX opened at $11.40 on Monday. The stock has a 50 day moving average price of $11.53 and a 200-day moving average price of $14.38. MediaAlpha has a one year low of $10.21 and a one year high of $25.78. The company has a market capitalization of $759.92 million, a P/E ratio of 67.06 and a beta of 1.12.

Institutional Trading of MediaAlpha

Institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp raised its holdings in shares of 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 period. PharVision Advisers LLC purchased a new position in MediaAlpha during the 4th quarter valued at $279,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 period. Virtus Fund Advisers LLC bought a new stake in shares of MediaAlpha during the fourth quarter worth $35,000. Finally, Virtus Investment Advisers Inc. purchased a new stake in shares of MediaAlpha during the fourth quarter valued at $172,000. 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.