The Goldman Sachs Group Issues Positive Forecast for MediaAlpha (NYSE:MAX) Stock Price

MediaAlpha (NYSE:MAX) had its price objective increased by equities researchers at The Goldman Sachs Group from $20.00 to $26.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 58.73% from the company’s previous close.

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

MediaAlpha Trading Down 4.4 %

Shares of MAX stock opened at $16.38 on Friday. The company’s fifty day moving average price is $18.05 and its 200-day moving average price is $17.20. The stock has a market cap of $1.09 billion, a PE ratio of 96.35 and a beta of 1.23. MediaAlpha has a 12 month low of $8.55 and a 12 month high of $25.78.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $259.13 million during 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%. On average, sell-side analysts forecast that MediaAlpha will post 0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eugene Nonko sold 72,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the sale, the insider now owns 1,550,990 shares in the company, valued at $32,058,963.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 11.53% of the company’s stock.

Institutional Investors Weigh In On MediaAlpha

Several large investors have recently bought and sold shares of the business. TimesSquare Capital Management LLC bought a new position in MediaAlpha during the 1st quarter valued at about $22,181,000. Driehaus Capital Management LLC raised its holdings 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 purchasing an additional 970,840 shares during the last quarter. Divisadero Street Capital Management LP bought a new position in MediaAlpha during the second quarter valued at approximately $7,956,000. Emerald Advisers LLC boosted its holdings in MediaAlpha by 51,407.5% in the second quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock worth $7,882,000 after purchasing an additional 597,355 shares during the last quarter. Finally, Clearline Capital LP grew its position in MediaAlpha by 1,255.3% in the 2nd quarter. Clearline Capital LP now owns 576,728 shares of the company’s stock worth $7,596,000 after purchasing an additional 534,176 shares during the period. 64.39% of the stock is currently owned by 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.