MediaAlpha’s (MAX) Outperform Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of MediaAlpha (NYSE:MAX) in a research note published on Tuesday,Benzinga reports. They currently have a $20.00 target price on the stock.

MAX has been the subject of several other research reports. 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. The Goldman Sachs Group decreased their price target 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. Canaccord Genuity Group cut their price objective on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Monday. Finally, Keefe, Bruyette & Woods reduced their price objective on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.50.

MediaAlpha Trading Up 3.0 %

Shares of MAX stock opened at $9.33 on Tuesday. MediaAlpha has a 12-month low of $8.65 and a 12-month high of $25.78. The stock has a market capitalization of $621.71 million, a P/E ratio of 54.86 and a beta of 1.12. The firm’s 50 day moving average is $11.41 and its 200 day moving average is $14.24.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.16). The firm 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, equities analysts predict that MediaAlpha will post 0.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. TimesSquare Capital Management LLC lifted its position in shares of MediaAlpha by 77.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company’s stock valued at $18,389,000 after acquiring an additional 712,410 shares in the last quarter. Clearline Capital LP lifted its holdings in MediaAlpha by 115.3% in the 3rd quarter. Clearline Capital LP now owns 1,241,419 shares of the company’s stock worth $22,482,000 after purchasing an additional 664,691 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in MediaAlpha by 2,683.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 476,342 shares of the company’s stock worth $5,378,000 after purchasing an additional 459,227 shares during the period. AQR Capital Management LLC grew its holdings in MediaAlpha by 570.7% during the 4th quarter. AQR Capital Management LLC now owns 472,215 shares of the company’s stock valued at $5,331,000 after buying an additional 401,807 shares in the last quarter. Finally, CenterBook Partners LP raised its position in shares of MediaAlpha by 485.7% during the fourth quarter. CenterBook Partners LP now owns 471,864 shares of the company’s stock valued at $5,327,000 after buying an additional 391,298 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.