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

MediaAlpha (NYSE:MAX) had its price target cut by The Goldman Sachs Group from $23.00 to $14.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently commented on MAX. Keefe, Bruyette & Woods decreased their price target on shares of MediaAlpha from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday. Canaccord Genuity Group decreased their target price on MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a report on Monday. JPMorgan Chase & Co. cut their price target on MediaAlpha from $25.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price objective on shares of MediaAlpha in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.50.

MediaAlpha Trading Up 3.0 %

Shares of NYSE MAX opened at $9.33 on Tuesday. The stock has a market capitalization of $621.71 million, a PE ratio of 54.86 and a beta of 1.12. MediaAlpha has a twelve month low of $8.65 and a twelve month high of $25.78. The stock has a fifty day simple moving average of $11.41 and a 200-day simple moving average of $14.24.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results 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). 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 analysts’ expectations of $289.38 million. On average, equities analysts predict that MediaAlpha will post 0.48 earnings per share for the current year.

Institutional Trading of MediaAlpha

Institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp raised its position in shares of MediaAlpha by 354.3% during the 4th quarter. Mackenzie Financial Corp now owns 60,259 shares of the company’s stock worth $680,000 after acquiring an additional 46,996 shares in the last quarter. PharVision Advisers LLC purchased a new position in MediaAlpha in the fourth quarter valued at approximately $279,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in MediaAlpha by 21.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,478 shares of the company’s stock worth $1,010,000 after purchasing an additional 16,050 shares in the last quarter. Virtus Fund Advisers LLC purchased a new stake in shares of MediaAlpha during the 4th quarter worth approximately $35,000. Finally, Virtus Investment Advisers Inc. acquired a new position in shares of MediaAlpha in the 4th quarter valued at $172,000. 64.39% of the stock is owned by hedge funds and other institutional investors.

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.