The Goldman Sachs Group Has Lowered Expectations for MediaAlpha (NYSE:MAX) Stock Price

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

Several other analysts also recently commented on the stock. Canaccord Genuity Group reduced their target price on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a report on Monday. Keefe, Bruyette & Woods reduced their target price on shares of MediaAlpha from $22.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 target price on shares of MediaAlpha in a report on Tuesday. Finally, JPMorgan Chase & Co. reduced their target price on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, January 10th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

MediaAlpha Price Performance

Shares of MAX opened at $9.25 on Tuesday. The firm has a 50-day moving average of $11.49 and a 200-day moving average of $14.31. MediaAlpha has a one year low of $8.69 and a one year high of $25.78. The company has a market cap of $616.38 million, a PE 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 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The firm had revenue of $300.65 million during the quarter, compared to the consensus estimate of $289.38 million. Analysts expect that MediaAlpha will post 0.48 earnings per share for the current year.

Institutional Trading of MediaAlpha

A number of institutional investors have recently bought and sold shares of MAX. Allspring Global Investments Holdings LLC bought a new stake in MediaAlpha in the 3rd quarter valued at about $491,000. Robeco Institutional Asset Management B.V. bought a new stake in MediaAlpha in the 3rd quarter valued at about $221,000. Los Angeles Capital Management LLC boosted its holdings in MediaAlpha by 91.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 55,183 shares of the company’s stock valued at $999,000 after purchasing an additional 26,420 shares during the period. GSA Capital Partners LLP bought a new stake in MediaAlpha in the 3rd quarter valued at about $804,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of MediaAlpha in the 3rd quarter valued at approximately $744,000. 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.