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 released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

MAX has been the subject of a number of other reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 target price on shares of MediaAlpha in a research report on Tuesday. Canaccord Genuity Group decreased their target price on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday. Keefe, Bruyette & Woods lowered their target price on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, JPMorgan Chase & Co. cut their price target on MediaAlpha from $25.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, January 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.50.

MediaAlpha Stock Up 3.0 %

MAX opened at $9.33 on Tuesday. MediaAlpha has a 52-week low of $8.65 and a 52-week high of $25.78. The company has a market cap of $621.71 million, a price-to-earnings ratio of 54.86 and a beta of 1.12. The firm’s fifty day simple moving average is $11.41 and its two-hundred day simple moving average is $14.24.

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

Institutional Trading of MediaAlpha

Hedge funds have recently made changes to their positions in the company. Hillsdale Investment Management Inc. lifted its holdings in MediaAlpha by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 208,900 shares of the company’s stock valued at $2,358,000 after acquiring an additional 800 shares during the last quarter. Covestor Ltd raised its position in MediaAlpha by 44.1% in the fourth quarter. Covestor Ltd now owns 2,766 shares of the company’s stock valued at $31,000 after purchasing an additional 847 shares during the period. Earnest Partners LLC lifted its stake in shares of MediaAlpha by 0.4% in the 4th quarter. Earnest Partners LLC now owns 241,559 shares of the company’s stock valued at $2,727,000 after purchasing an additional 1,021 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of MediaAlpha by 11.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock worth $206,000 after purchasing an additional 1,213 shares during the period. Finally, Quarry LP increased its position in shares of MediaAlpha by 157.8% during the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after purchasing an additional 1,726 shares during the last quarter. 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.