JPMorgan Chase & Co. Purchases 69,477 Shares of MediaAlpha, Inc. (NYSE:MAX)

JPMorgan Chase & Co. increased its position in MediaAlpha, Inc. (NYSE:MAX) by 655.8% during the third quarter, HoldingsChannel.com reports. The firm owned 80,071 shares of the company’s stock after acquiring an additional 69,477 shares during the quarter. JPMorgan Chase & Co.’s holdings in MediaAlpha were worth $1,450,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in MediaAlpha by 28.9% during the 3rd quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock valued at $12,509,000 after acquiring an additional 154,637 shares during the period. GSA Capital Partners LLP bought a new position in shares of MediaAlpha in the 3rd quarter worth approximately $804,000. PDT Partners LLC bought a new position in shares of MediaAlpha in the 3rd quarter worth approximately $1,237,000. Barclays PLC lifted its stake in shares of MediaAlpha by 423.2% in the 3rd quarter. Barclays PLC now owns 66,525 shares of the company’s stock worth $1,204,000 after purchasing an additional 53,809 shares during the period. Finally, Ghisallo Capital Management LLC lifted its stake in shares of MediaAlpha by 535.3% in the 2nd quarter. Ghisallo Capital Management LLC now owns 487,500 shares of the company’s stock worth $6,420,000 after purchasing an additional 410,764 shares during the period. Institutional investors own 64.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on MAX. The Goldman Sachs Group lowered their price objective on shares of MediaAlpha from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, January 14th. JPMorgan Chase & Co. reduced their target price on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Keefe, Bruyette & Woods cut their price objective on shares of 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 shares of MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.57.

MediaAlpha Stock Performance

NYSE MAX opened at $10.92 on Friday. The company has a market capitalization of $727.99 million, a P/E ratio of 64.24 and a beta of 1.12. The stock has a 50 day moving average price of $11.52 and a 200-day moving average price of $14.74. MediaAlpha, Inc. has a one year low of $10.21 and a one year high of $25.78.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $259.13 million during the quarter, compared to the consensus estimate of $246.96 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. As a group, equities analysts predict that MediaAlpha, Inc. will post 0.48 EPS 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 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 completion of the sale, the insider now directly owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.53% of the stock is owned by corporate insiders.

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.