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

MediaAlpha (NYSE:MAX) had its price target boosted by The Goldman Sachs Group from $20.00 to $26.00 in a research report sent to investors 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 previously from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to 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 NYSE:MAX traded down $0.75 during trading on Friday, hitting $16.38. 1,298,257 shares of the stock were exchanged, compared to its average volume of 559,612. The company has a fifty day moving average price of $18.05 and a two-hundred day moving average price of $17.22. The company has a market cap of $1.09 billion, a PE ratio of 96.35 and a beta of 1.22. MediaAlpha has a 12-month low of $8.55 and a 12-month high of $25.78.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $259.13 million for the quarter, compared to analyst estimates of $246.96 million. MediaAlpha had a negative return on equity of 11.03% and a net margin of 1.41%. Equities research analysts anticipate that MediaAlpha will post 0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of MediaAlpha

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new stake in MediaAlpha in the 2nd quarter valued at $65,000. Sandia Investment Management LP acquired a new stake in MediaAlpha in the 2nd quarter valued at $79,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MediaAlpha by 354.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock valued at $114,000 after purchasing an additional 6,728 shares in the last quarter. nVerses Capital LLC acquired a new stake in MediaAlpha in the 3rd quarter valued at $116,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in MediaAlpha in the 2nd quarter valued at $134,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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.