MediaAlpha (NYSE:MAX) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

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

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

MediaAlpha Price Performance

Shares of MAX stock opened at $16.08 on Friday. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 94.59 and a beta of 1.23. The stock’s fifty day simple moving average is $18.01 and its 200 day simple moving average is $17.18. MediaAlpha has a one year low of $8.55 and a one year high of $25.78.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $246.96 million. On average, research analysts anticipate that MediaAlpha will post 0.35 earnings per share for the current year.

Insider Buying and Selling

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the business’s stock in a transaction dated 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 directly owns 1,550,990 shares of the company’s stock, valued at $32,058,963.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 11.53% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Acadian Asset Management LLC bought a new stake in shares of MediaAlpha in the first quarter valued at approximately $1,118,000. Vanguard Group Inc. lifted its position in shares of MediaAlpha by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock valued at $43,168,000 after acquiring an additional 276,641 shares during the period. TimesSquare Capital Management LLC acquired a new stake in shares of MediaAlpha during the 1st quarter worth $22,181,000. Hillsdale Investment Management Inc. bought a new position in shares of MediaAlpha in the first quarter worth $4,062,000. Finally, Divisadero Street Capital Management LP bought a new position in shares of MediaAlpha in the second quarter worth $7,956,000. 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.