Shares of MediaAlpha, Inc. (NYSE:MAX – Get Rating) have earned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $28.25.
A number of equities research analysts recently weighed in on the stock. Citigroup lowered shares of MediaAlpha from a “buy” rating to a “neutral” rating and lowered their price target for the company from $24.00 to $14.00 in a report on Wednesday, February 23rd. Zacks Investment Research downgraded shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a research note on Wednesday, March 2nd. Canaccord Genuity Group reduced their price objective on shares of MediaAlpha from $30.00 to $20.00 in a research note on Friday, February 25th. Finally, Royal Bank of Canada reduced their price objective on shares of MediaAlpha from $24.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, March 10th.
Institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. grew its position in shares of MediaAlpha by 139.8% during the third quarter. Citigroup Inc. now owns 3,038 shares of the company’s stock worth $57,000 after acquiring an additional 1,771 shares during the last quarter. Royal Bank of Canada increased its stake in MediaAlpha by 194.7% during the 3rd quarter. Royal Bank of Canada now owns 4,476 shares of the company’s stock valued at $83,000 after buying an additional 2,957 shares during the period. Advisor Group Holdings Inc. increased its stake in MediaAlpha by 20.1% during the 3rd quarter. Advisor Group Holdings Inc. now owns 4,910 shares of the company’s stock valued at $92,000 after buying an additional 822 shares during the period. Macquarie Group Ltd. bought a new stake in shares of MediaAlpha during the 3rd quarter worth about $97,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of MediaAlpha in the 4th quarter worth approximately $155,000. Institutional investors and hedge funds own 65.47% of the company’s stock.
MediaAlpha (NYSE:MAX – Get Rating) last released its quarterly earnings results on Thursday, February 24th. The company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.08). The company had revenue of $161.58 million for the quarter, compared to analyst estimates of $155.88 million. Analysts forecast that MediaAlpha will post -0.28 earnings per share for the current year.
MediaAlpha Company Profile (Get Rating)
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.
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