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

MediaAlpha (NYSE:MAX) had its price objective cut by The Goldman Sachs Group from $23.00 to $14.00 in a research note issued 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 57.34% from the stock’s current price.

MAX has been the subject of a number of other research reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of MediaAlpha in a report on Tuesday. Keefe, Bruyette & Woods lowered their price objective on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. cut their target price on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Finally, Canaccord Genuity Group reduced their target price on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, MediaAlpha presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.29.

MediaAlpha Stock Down 22.0 %

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

MediaAlpha (NYSE:MAX) last issued its earnings results on Monday, February 24th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The company had revenue of $300.65 million during the quarter, compared to analyst estimates of $289.38 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. On average, sell-side analysts forecast that MediaAlpha will post 0.48 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MAX. Covestor Ltd raised its stake in MediaAlpha by 44.1% during the fourth 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 acquired a new stake in MediaAlpha during the 4th quarter worth about $35,000. Quarry LP raised its position in shares of MediaAlpha by 157.8% in the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after acquiring an additional 1,726 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of MediaAlpha in the 4th quarter valued at about $67,000. Finally, Walleye Capital LLC bought a new stake in shares of MediaAlpha during the 4th quarter valued at about $132,000. Institutional investors and hedge funds 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.