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

MediaAlpha (NYSE:MAX) had its target price dropped by equities research analysts at The Goldman Sachs Group from $23.00 to $14.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 54.70% from the stock’s current price.

MAX has been the topic of several other research reports. Keefe, Bruyette & Woods reduced their price target on shares of MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday. Canaccord Genuity Group reduced their price target on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price target on shares of MediaAlpha in a research report on Tuesday. Finally, JPMorgan Chase & Co. reduced their price target 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. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.50.

MediaAlpha Stock Performance

Shares of NYSE:MAX opened at $9.05 on Tuesday. MediaAlpha has a 52 week low of $8.69 and a 52 week high of $25.78. The company’s fifty day moving average is $11.45 and its 200-day moving average is $14.28. The company has a market capitalization of $603.31 million, a PE ratio of 53.24 and a beta of 1.12.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in MAX. TimesSquare Capital Management LLC lifted its position in MediaAlpha by 77.7% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company’s stock valued at $18,389,000 after purchasing an additional 712,410 shares during the period. Clearline Capital LP lifted its position in MediaAlpha by 115.3% during the 3rd quarter. Clearline Capital LP now owns 1,241,419 shares of the company’s stock valued at $22,482,000 after purchasing an additional 664,691 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in MediaAlpha by 2,683.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 476,342 shares of the company’s stock valued at $5,378,000 after purchasing an additional 459,227 shares during the period. AQR Capital Management LLC increased its stake in shares of MediaAlpha by 570.7% in the 4th quarter. AQR Capital Management LLC now owns 472,215 shares of the company’s stock valued at $5,331,000 after acquiring an additional 401,807 shares during the last quarter. Finally, CenterBook Partners LP increased its stake in shares of 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 acquiring an additional 391,298 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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.