The Goldman Sachs Group Forecasts Strong Price Appreciation for MediaAlpha (NYSE:MAX) Stock

MediaAlpha (NYSE:MAX - Get Free Report) had its price objective hoisted by equities research analysts at The Goldman Sachs Group from $20.00 to $26.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. The Goldman Sachs Group's target price points to a potential upside of 58.73% from the stock's current price.

Separately, Keefe, Bruyette & Woods reissued an "outperform" rating and set a $26.00 price objective (up previously from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $25.14.

MediaAlpha Stock Down 4.4 %

NYSE:MAX traded down $0.75 during mid-day trading on Friday, reaching $16.38. 1,297,558 shares of the company were exchanged, compared to its average volume of 559,612. MediaAlpha has a 12 month low of $8.55 and a 12 month high of $25.78. The company has a fifty day moving average of $18.05 and a 200 day moving average of $17.22. The stock has a market cap of $1.09 billion, a PE ratio of 96.35 and a beta of 1.22.

MediaAlpha (NYSE:MAX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.04. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.03%. The firm had revenue of $259.13 million for the quarter, compared to analyst estimates of $246.96 million. On average, equities research analysts anticipate that MediaAlpha will post 0.35 EPS for the current fiscal year.

Insider Activity

In related news, insider Eugene Nonko sold 72,000 shares of MediaAlpha stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the transaction, the insider now owns 1,550,990 shares of the company's stock, valued at $32,058,963.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.53% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new stake in MediaAlpha during the 2nd quarter worth approximately $65,000. Sandia Investment Management LP acquired a new stake in shares of MediaAlpha in the second quarter valued at approximately $79,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of MediaAlpha by 354.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company's stock valued at $114,000 after purchasing an additional 6,728 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of MediaAlpha in the third quarter valued at approximately $116,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of MediaAlpha in the second quarter valued at $134,000. Institutional investors own 64.39% of the company's stock.

MediaAlpha Company Profile

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.