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

MediaAlpha (NYSE:MAX) had its price objective dropped by equities research analysts at JPMorgan Chase & Co. from $25.00 to $15.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 38.25% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. Keefe, Bruyette & Woods reduced their target price on shares of MediaAlpha from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. The Goldman Sachs Group boosted their price objective 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, Royal Bank of Canada lowered their target price on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a research 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, MediaAlpha has a consensus rating of “Moderate Buy” and an average price target of $22.00.

MediaAlpha Stock Performance

Shares of NYSE MAX traded down $0.43 during trading hours on Friday, hitting $10.85. 118,369 shares of the stock were exchanged, compared to its average volume of 395,707. The company’s fifty day simple moving average is $11.90 and its two-hundred day simple moving average is $14.89. The company has a market cap of $723.30 million, a PE ratio of 63.82 and a beta of 1.12. MediaAlpha has a 1-year low of $10.21 and a 1-year high of $25.78.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The firm 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, sell-side analysts expect that MediaAlpha will post 0.42 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eugene Nonko sold 72,000 shares of MediaAlpha stock in a transaction on Wednesday, October 30th. The shares were 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 owns 1,550,990 shares in the company, valued at $32,058,963.30. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its stake in shares of MediaAlpha by 655.8% in the third quarter. JPMorgan Chase & Co. now owns 80,071 shares of the company’s stock worth $1,450,000 after purchasing an additional 69,477 shares during the last quarter. Franklin Resources Inc. grew its holdings in MediaAlpha by 100.1% during the third quarter. Franklin Resources Inc. now owns 128,604 shares of the company’s stock worth $2,432,000 after buying an additional 64,331 shares in the last quarter. Barclays PLC raised its position 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 buying an additional 53,809 shares during the last quarter. 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 in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in MediaAlpha during the 3rd quarter worth $707,000. 64.39% of the stock is 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.