MediaAlpha (NYSE:MAX) Stock Price Down 10.6% – What’s Next?

MediaAlpha, Inc. (NYSE:MAX) shares traded down 10.6% during trading on Thursday . The stock traded as low as $18.12 and last traded at $18.53. 342,343 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 550,417 shares. The stock had previously closed at $20.73.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. The Goldman Sachs Group initiated coverage on MediaAlpha in a report on Tuesday, August 20th. They issued a “buy” rating and a $20.00 target price on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $26.00 price objective (up previously from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $24.29.

MediaAlpha Trading Down 13.9 %

The company has a 50-day moving average price of $18.07 and a 200 day moving average price of $17.24. The stock has a market capitalization of $1.18 billion, a P/E ratio of -63.10 and a beta of 1.22.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. The firm had revenue of $259.13 million for the quarter, compared to analysts’ expectations of $246.96 million. As a group, research analysts expect that MediaAlpha, Inc. will post 0.35 earnings per share for the current year.

Hedge Funds Weigh In On MediaAlpha

Hedge funds and other institutional investors have recently bought and sold shares of the business. Point72 DIFC Ltd purchased a new stake in shares of MediaAlpha in the 2nd quarter valued at $65,000. Sandia Investment Management LP purchased a new stake in MediaAlpha in the second quarter valued at $79,000. nVerses Capital LLC acquired a new stake in MediaAlpha during the 3rd quarter worth about $116,000. EntryPoint Capital LLC purchased a new position in shares of MediaAlpha during the 1st quarter valued at about $136,000. Finally, Lazard Asset Management LLC acquired a new position in shares of MediaAlpha in the 1st quarter valued at about $165,000. Institutional investors and hedge funds 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.