JPMorgan Chase & Co. Issues Pessimistic Forecast for MediaAlpha (NYSE:MAX) Stock Price

MediaAlpha (NYSE:MAX) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $25.00 to $15.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 38.25% from the company’s current price.

Several other brokerages have also issued reports on MAX. The Goldman Sachs Group boosted their price target on shares of MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods lowered their price target on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Finally, Royal Bank of Canada cut their price objective on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. One equities 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.00.

MediaAlpha Trading Down 3.8 %

Shares of NYSE:MAX traded down $0.43 during midday trading on Friday, hitting $10.85. The company had a trading volume of 118,369 shares, compared to its average volume of 395,707. The firm has a fifty day simple moving average of $11.90 and a 200 day simple moving average of $14.89. The stock has a market cap of $723.30 million, a price-to-earnings ratio of 63.82 and a beta of 1.12. MediaAlpha has a 12 month low of $10.21 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, beating analysts’ consensus estimates of $0.13 by $0.04. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The company had revenue of $259.13 million during the quarter, compared to analysts’ expectations of $246.96 million. Equities analysts forecast that MediaAlpha will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling at MediaAlpha

In other news, insider Eugene Nonko sold 72,000 shares of the firm’s stock in a transaction that occurred 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 $32,058,963.30. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 11.53% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently modified their holdings of MAX. Geode Capital Management LLC boosted its stake in MediaAlpha by 28.9% in the 3rd quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock valued at $12,509,000 after purchasing an additional 154,637 shares during the period. GSA Capital Partners LLP bought a new position in MediaAlpha during the third quarter worth about $804,000. PDT Partners LLC acquired a new stake in MediaAlpha in the 3rd quarter worth about $1,237,000. Barclays PLC boosted its holdings in MediaAlpha by 423.2% in the 3rd quarter. Barclays PLC now owns 66,525 shares of the company’s stock valued at $1,204,000 after purchasing an additional 53,809 shares during the period. Finally, Divisadero Street Capital Management LP acquired a new position in shares of MediaAlpha during the 2nd quarter worth approximately $7,956,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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.