The Goldman Sachs Group Cuts MediaAlpha (NYSE:MAX) Price Target to $14.00

MediaAlpha (NYSE:MAX - Get Free Report) had its price objective decreased by equities research analysts at The Goldman Sachs Group from $23.00 to $14.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price objective suggests a potential upside of 50.46% from the stock's previous close.

Other equities analysts have also issued reports about the company. Canaccord Genuity Group decreased their price objective on MediaAlpha from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Monday. Royal Bank of Canada reiterated an "outperform" rating and issued a $20.00 price target on shares of MediaAlpha in a report on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of MediaAlpha from $25.00 to $15.00 and set an "overweight" rating on the stock in a report on Friday, January 10th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of MediaAlpha from $22.00 to $19.00 and set an "outperform" rating for the company in a research note on Tuesday. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.50.

MediaAlpha Price Performance

Shares of NYSE MAX traded down $0.07 during midday trading on Tuesday, reaching $9.31. 526,649 shares of the stock were exchanged, compared to its average volume of 481,040. MediaAlpha has a 12 month low of $8.65 and a 12 month high of $25.78. The business has a 50-day simple moving average of $11.37 and a two-hundred day simple moving average of $14.20. The company has a market capitalization of $620.31 million, a price-to-earnings ratio of 54.74 and a beta of 1.12.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its earnings results on Monday, February 24th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.16). MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The business had revenue of $300.65 million for the quarter, compared to the consensus estimate of $289.38 million. Equities research analysts expect that MediaAlpha will post 0.48 earnings per share for the current fiscal year.

Institutional Trading of MediaAlpha

A number of institutional investors have recently made changes to their positions in MAX. Covestor Ltd grew its position in MediaAlpha by 44.1% in the fourth quarter. Covestor Ltd now owns 2,766 shares of the company's stock valued at $31,000 after purchasing an additional 847 shares in 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 157.8% in the third quarter. Quarry LP now owns 2,820 shares of the company's stock valued at $51,000 after acquiring an additional 1,726 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in MediaAlpha during the fourth quarter worth about $67,000. Finally, Walleye Capital LLC bought a new stake in MediaAlpha during the fourth quarter worth about $132,000. 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.