MediaAlpha (NYSE:MAX) Now Covered by The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of MediaAlpha (NYSE:MAX) in a report released on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $20.00 price target on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 16.82% from the company’s current price.

Several other brokerages have also issued reports on MAX. Royal Bank of Canada boosted their price target on MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. TD Cowen downgraded shares of MediaAlpha from a “buy” rating to a “hold” rating and dropped their target price for the company from $19.00 to $13.00 in a research report on Wednesday, June 26th. Canaccord Genuity Group raised their price target on shares of MediaAlpha from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. upped their price objective on shares of MediaAlpha from $18.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $26.00 price objective (up previously from $25.00) on shares of MediaAlpha in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.29.

MediaAlpha Trading Up 0.4 %

Shares of MAX opened at $17.12 on Tuesday. The company has a market capitalization of $1.13 billion, a PE ratio of -25.18 and a beta of 1.20. MediaAlpha has a 12 month low of $7.62 and a 12 month high of $25.78. The stock’s 50-day moving average price is $14.90 and its two-hundred day moving average price is $17.46.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.02 by $0.05. The company had revenue of $178.27 million for the quarter, compared to analyst estimates of $151.40 million. The firm’s quarterly revenue was up 110.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.32) earnings per share. Equities research analysts predict that MediaAlpha will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new position in MediaAlpha in the 2nd quarter valued at about $136,000. Algert Global LLC acquired a new position in MediaAlpha during the 2nd quarter valued at about $162,000. Clearline Capital LP boosted its stake in MediaAlpha by 1,255.3% during the 2nd quarter. Clearline Capital LP now owns 576,728 shares of the company’s stock valued at $7,596,000 after purchasing an additional 534,176 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in MediaAlpha by 208.4% during the 2nd 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. Finally, Lighthouse Investment Partners LLC acquired a new position in MediaAlpha during the 2nd quarter valued at about $4,002,000. 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.