JPMorgan Chase & Co. Cuts MediaAlpha (NYSE:MAX) Price Target to $15.00

MediaAlpha (NYSE:MAX) had its price objective decreased by JPMorgan Chase & Co. from $25.00 to $15.00 in a research note published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

MAX has been the subject of several other reports. Royal Bank of Canada reduced their price objective on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their target price on shares of MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Keefe, Bruyette & Woods reduced their target price on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 11th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.00.

MediaAlpha Stock Performance

NYSE:MAX opened at $10.60 on Friday. The stock has a 50-day simple moving average of $11.78 and a two-hundred day simple moving average of $14.87. The firm has a market capitalization of $706.64 million, a PE ratio of 62.35 and a beta of 1.12. MediaAlpha has a 52-week low of $10.21 and a 52-week high of $25.78.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The firm had revenue of $259.13 million for the quarter, compared to analysts’ expectations of $246.96 million. Equities analysts forecast that MediaAlpha will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Eugene Nonko sold 72,000 shares of MediaAlpha stock in a transaction dated 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 sale, the insider now owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. The trade was a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 11.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On MediaAlpha

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in shares of MediaAlpha by 655.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 80,071 shares of the company’s stock valued at $1,450,000 after acquiring an additional 69,477 shares during the period. Franklin Resources Inc. increased its stake in MediaAlpha by 100.1% in the third quarter. Franklin Resources Inc. now owns 128,604 shares of the company’s stock valued at $2,432,000 after purchasing an additional 64,331 shares during the period. Barclays PLC raised its holdings in shares of MediaAlpha by 423.2% in the third quarter. Barclays PLC now owns 66,525 shares of the company’s stock valued at $1,204,000 after buying an additional 53,809 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of MediaAlpha by 28.9% in the third quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock valued at $12,509,000 after buying an additional 154,637 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of MediaAlpha during the third quarter worth about $707,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.