MediaAlpha (NYSE:MAX) Given New $26.00 Price Target at The Goldman Sachs Group

MediaAlpha (NYSE:MAX) had its price target upped by The Goldman Sachs Group from $20.00 to $26.00 in a research report report published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Separately, Keefe, Bruyette & Woods restated an “outperform” rating and set a $26.00 target price (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 assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $25.14.

MediaAlpha Trading Down 4.4 %

Shares of MAX traded down $0.75 during trading hours on Friday, reaching $16.38. 1,298,257 shares of the stock traded hands, compared to its average volume of 559,612. MediaAlpha has a 52-week low of $8.55 and a 52-week high of $25.78. The company’s 50-day moving average price is $18.05 and its two-hundred day moving average price is $17.22. The company has a market cap of $1.09 billion, a P/E ratio of 96.35 and a beta of 1.22.

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

Insider Activity at MediaAlpha

In other news, insider Eugene Nonko sold 72,000 shares of MediaAlpha stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total value of $1,488,240.00. Following the completion of the sale, the insider now directly owns 1,550,990 shares of the company’s stock, valued at approximately $32,058,963.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of MediaAlpha by 15.0% during the first quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock worth $43,168,000 after purchasing an additional 276,641 shares in the last quarter. 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 worth $18,920,000 after purchasing an additional 970,840 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of MediaAlpha during the first quarter worth about $22,181,000. Divisadero Street Capital Management LP acquired a new stake in shares of MediaAlpha during the second quarter worth about $7,956,000. Finally, Emerald Advisers LLC increased its position in shares of MediaAlpha by 51,407.5% during 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 in the last quarter. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

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.