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

MediaAlpha (NYSE:MAX) had its price objective dropped by investment analysts at The Goldman Sachs Group from $14.00 to $12.50 in a research report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 66.44% from the stock’s previous close.

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

MediaAlpha Stock Performance

MAX stock traded up $0.01 during midday trading on Monday, reaching $7.51. 165,647 shares of the company traded hands, compared to its average volume of 648,117. The firm has a market capitalization of $503.40 million, a price-to-earnings ratio of 44.18 and a beta of 1.11. The business has a 50 day moving average of $9.89 and a 200-day moving average of $12.28. MediaAlpha has a 52-week low of $7.33 and a 52-week high of $25.78.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data 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. Research analysts anticipate that MediaAlpha will post 0.48 earnings per share for the current year.

Hedge Funds Weigh In On MediaAlpha

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TimesSquare Capital Management LLC lifted its position in shares of MediaAlpha by 77.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company’s stock valued at $18,389,000 after acquiring an additional 712,410 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in MediaAlpha by 2,683.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 476,342 shares of the company’s stock valued at $5,378,000 after buying an additional 459,227 shares in the last quarter. AQR Capital Management LLC raised its stake in 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 purchasing an additional 401,807 shares during the period. CenterBook Partners LP boosted its holdings in MediaAlpha by 485.7% in the 4th quarter. CenterBook Partners LP now owns 471,864 shares of the company’s stock valued at $5,327,000 after purchasing an additional 391,298 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of MediaAlpha by 91.0% in the 4th quarter. Millennium Management LLC now owns 781,349 shares of the company’s stock valued at $8,821,000 after buying an additional 372,305 shares during the period. 64.39% of the stock is owned by hedge funds and other institutional investors.

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.