MediaAlpha (NYSE:MAX) Given New $14.00 Price Target at The Goldman Sachs Group

MediaAlpha (NYSE:MAX) had its price objective cut by analysts at The Goldman Sachs Group from $23.00 to $14.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 57.34% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. lowered their target price on MediaAlpha from $25.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Canaccord Genuity Group lowered their price objective on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price objective on shares of MediaAlpha in a report on Tuesday. Finally, Keefe, Bruyette & Woods decreased their target price on shares of MediaAlpha from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MediaAlpha presently has an average rating of “Moderate Buy” and a consensus target price of $19.29.

MediaAlpha Stock Down 22.0 %

MAX traded down $2.51 during midday trading on Tuesday, hitting $8.90. The company had a trading volume of 1,359,010 shares, compared to its average volume of 403,148. The stock’s 50 day moving average price is $11.54 and its 200 day moving average price is $14.35. MediaAlpha has a 52 week low of $8.72 and a 52 week high of $25.78. The company has a market capitalization of $593.18 million, a price-to-earnings ratio of 52.34 and a beta of 1.12.

MediaAlpha (NYSE:MAX) last issued its earnings results on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The firm 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%. Research analysts predict that MediaAlpha will post 0.48 EPS for the current year.

Institutional Investors Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAX. Covestor Ltd boosted its stake in shares of MediaAlpha by 44.1% in 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 stake in MediaAlpha during the fourth quarter worth $35,000. Quarry LP lifted its holdings in MediaAlpha by 157.8% during the third quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after acquiring an additional 1,726 shares during the period. KLP Kapitalforvaltning AS purchased a new position in MediaAlpha in the fourth quarter worth $67,000. Finally, Walleye Capital LLC bought a new position in MediaAlpha in the 4th quarter valued at $132,000. Hedge funds and other 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.