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

MediaAlpha (NYSE:MAX) had its price target dropped by JPMorgan Chase & Co. from $25.00 to $15.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 41.51% from the company’s previous close.

Several other equities analysts also recently commented on MAX. The Goldman Sachs Group increased their price target on 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 target price on shares of MediaAlpha from $26.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 11th. Finally, Royal Bank of Canada cut their target price on shares of MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a research 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, MediaAlpha currently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

MediaAlpha Trading Down 6.0 %

MAX stock opened at $10.60 on Friday. The firm has a market cap of $706.64 million, a PE ratio of 62.35 and a beta of 1.12. MediaAlpha has a 1 year low of $10.21 and a 1 year high of $25.78. The company has a fifty day simple moving average of $11.78 and a 200 day simple moving average of $14.86.

MediaAlpha (NYSE:MAX) last released its quarterly 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. 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, analysts forecast that MediaAlpha will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the company’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 transaction, the insider now owns 1,550,990 shares of the company’s stock, valued at $32,058,963.30. This represents a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 11.53% of the company’s stock.

Institutional Trading of MediaAlpha

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

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.