MediaAlpha (NYSE:MAX) Price Target Lowered to $12.50 at The Goldman Sachs Group

MediaAlpha (NYSE:MAX) had its price objective cut by The Goldman Sachs Group from $14.00 to $12.50 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts also recently weighed in on MAX. BMO Capital Markets decreased their price target on shares of MediaAlpha from $27.00 to $23.00 and set an “outperform” rating for the company in a research report on Thursday, April 3rd. JPMorgan Chase & Co. decreased their price objective on shares of MediaAlpha from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Keefe, Bruyette & Woods cut their target price on shares of MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. Canaccord Genuity Group decreased their price target on MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, February 24th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $20.00 price objective on shares of MediaAlpha in a research note on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, MediaAlpha has an average rating of “Moderate Buy” and a consensus price target of $18.07.

MediaAlpha Price Performance

MediaAlpha stock opened at $7.50 on Monday. MediaAlpha has a 12-month low of $7.33 and a 12-month high of $25.78. The company has a market capitalization of $502.73 million, a price-to-earnings ratio of 44.12 and a beta of 1.11. The firm’s fifty day moving average price is $9.80 and its 200 day moving average price is $12.21.

MediaAlpha (NYSE:MAX) last announced its 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). The business had revenue of $300.65 million for the quarter, compared to analysts’ expectations of $289.38 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. Analysts forecast that MediaAlpha will post 0.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its holdings in shares of MediaAlpha by 8,775.8% during the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company’s stock valued at $27,000 after purchasing an additional 2,896 shares during the last quarter. Covestor Ltd lifted its holdings 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 purchasing an additional 847 shares during the last quarter. Virtus Fund Advisers LLC acquired a new position in MediaAlpha during the 4th quarter valued at approximately $35,000. Quarry LP grew its stake in MediaAlpha by 107.1% during the 4th quarter. Quarry LP now owns 5,841 shares of the company’s stock worth $66,000 after buying an additional 3,021 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in MediaAlpha in the fourth quarter worth $67,000. Institutional investors and hedge funds 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.