The Goldman Sachs Group Issues Pessimistic Forecast for MediaAlpha (NYSE:MAX) Stock Price

MediaAlpha (NYSE:MAX - Free Report) had its price objective decreased by The Goldman Sachs Group from $14.00 to $12.50 in a research note released on Monday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other analysts have also recently commented on the company. Keefe, Bruyette & Woods lowered their price target on MediaAlpha from $22.00 to $19.00 and set an "outperform" rating for the company in a research note on Tuesday, February 25th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $20.00 target price on shares of MediaAlpha in a research note on Tuesday, February 25th. Canaccord Genuity Group decreased their price target on shares of 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. dropped their price objective on MediaAlpha from $15.00 to $13.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 25th. Finally, BMO Capital Markets decreased their target price on MediaAlpha from $27.00 to $23.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $18.07.

MediaAlpha Stock Performance

NYSE:MAX traded up $0.20 on Monday, hitting $7.78. 681,811 shares of the stock were exchanged, compared to its average volume of 654,066. The stock has a market capitalization of $521.16 million, a price-to-earnings ratio of 45.74 and a beta of 1.11. MediaAlpha has a 52 week low of $7.33 and a 52 week high of $25.78. The company's 50-day moving average price is $9.41 and its 200 day moving average price is $12.00.

MediaAlpha (NYSE:MAX - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.16). The business had revenue of $300.65 million during the quarter, compared to the consensus estimate of $289.38 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. As a group, equities research analysts predict that MediaAlpha will post 0.48 earnings per share for the current year.

Hedge Funds Weigh In On MediaAlpha

Several hedge funds have recently made changes to their positions in MAX. GAMMA Investing LLC boosted its holdings in MediaAlpha by 8,775.8% during the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock worth $27,000 after purchasing an additional 2,896 shares during the last quarter. Covestor Ltd boosted its stake in shares of MediaAlpha by 44.1% during the 4th quarter. Covestor Ltd now owns 2,766 shares of the company's stock worth $31,000 after buying an additional 847 shares during the last quarter. Virtus Fund Advisers LLC bought a new position in shares of MediaAlpha in the 4th quarter valued at about $35,000. Quarry LP increased its position in shares of MediaAlpha by 107.1% in the fourth quarter. Quarry LP now owns 5,841 shares of the company's stock valued at $66,000 after acquiring an additional 3,021 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in MediaAlpha during the fourth quarter worth about $67,000. 64.39% of the stock is owned by institutional investors.

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.