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

MediaAlpha (NYSE:MAX) had its price target trimmed by The Goldman Sachs Group from $23.00 to $14.00 in a research report report published on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

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

MediaAlpha Price Performance

Shares of NYSE MAX opened at $9.25 on Tuesday. The company’s 50 day simple moving average is $11.49 and its 200 day simple moving average is $14.31. MediaAlpha has a fifty-two week low of $8.69 and a fifty-two week high of $25.78. The firm has a market capitalization of $616.38 million, a P/E ratio of 54.39 and a beta of 1.12.

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

Institutional Investors Weigh In On MediaAlpha

Several large investors have recently bought and sold shares of MAX. TimesSquare Capital Management LLC raised its holdings in shares of MediaAlpha by 77.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company’s stock worth $18,389,000 after acquiring an additional 712,410 shares during the period. Clearline Capital LP raised its holdings in shares of MediaAlpha by 115.3% during the third quarter. Clearline Capital LP now owns 1,241,419 shares of the company’s stock worth $22,482,000 after acquiring an additional 664,691 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of MediaAlpha by 2,683.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 476,342 shares of the company’s stock worth $5,378,000 after acquiring an additional 459,227 shares during the period. AQR Capital Management LLC raised its holdings in shares of MediaAlpha by 570.7% during the fourth quarter. AQR Capital Management LLC now owns 472,215 shares of the company’s stock worth $5,331,000 after acquiring an additional 401,807 shares during the period. Finally, CenterBook Partners LP raised its holdings in shares of MediaAlpha by 485.7% during the fourth quarter. CenterBook Partners LP now owns 471,864 shares of the company’s stock worth $5,327,000 after acquiring an additional 391,298 shares during the period. 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.