The Goldman Sachs Group Boosts MediaAlpha (NYSE:MAX) Price Target to $26.00

MediaAlpha (NYSE:MAX) had its price target lifted by investment analysts at The Goldman Sachs Group from $20.00 to $26.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 60.59% from the company’s current price.

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and set a $26.00 price objective (up from $25.00) on shares of MediaAlpha in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, MediaAlpha presently has an average rating of “Moderate Buy” and a consensus target price of $25.14.

MediaAlpha Trading Down 5.5 %

MAX traded down $0.94 during midday trading on Friday, reaching $16.19. The company’s stock had a trading volume of 625,391 shares, compared to its average volume of 556,438. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 95.24 and a beta of 1.22. MediaAlpha has a 1 year low of $8.55 and a 1 year high of $25.78. The stock’s 50-day moving average is $18.07 and its 200-day moving average is $17.24.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $259.13 million for the quarter, compared to analysts’ expectations of $246.96 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.03%. As a group, equities research analysts forecast that MediaAlpha will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of MediaAlpha

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. TimesSquare Capital Management LLC purchased a new position in MediaAlpha during the first quarter valued at $22,181,000. Driehaus Capital Management LLC increased its position in shares of MediaAlpha by 208.4% during the second quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock valued at $18,920,000 after acquiring an additional 970,840 shares during the last quarter. Divisadero Street Capital Management LP acquired a new position in shares of MediaAlpha in the second quarter valued at approximately $7,956,000. Emerald Advisers LLC grew its holdings in shares of MediaAlpha by 51,407.5% in the second quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock valued at $7,882,000 after purchasing an additional 597,355 shares in the last quarter. Finally, Clearline Capital LP lifted its stake in MediaAlpha by 1,255.3% in the second quarter. Clearline Capital LP now owns 576,728 shares of the company’s stock worth $7,596,000 after acquiring an additional 534,176 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

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.