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

MediaAlpha (NYSE:MAX) had its target price cut by JPMorgan Chase & Co. from $25.00 to $15.00 in a research report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

MAX has been the subject of a number of other reports. Royal Bank of Canada reduced their price target 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. The Goldman Sachs Group increased their target price on shares of MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Keefe, Bruyette & Woods lowered their price target 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. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.00.

MediaAlpha Price Performance

MediaAlpha stock opened at $10.60 on Friday. The company has a market cap of $706.64 million, a P/E ratio of 62.35 and a beta of 1.12. MediaAlpha has a fifty-two week low of $10.21 and a fifty-two week high of $25.78. The firm’s 50 day simple moving average is $11.78 and its 200-day simple moving average is $14.85.

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

Insider Buying and Selling

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 1,550,990 shares in the company, valued at $32,058,963.30. This trade represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 11.53% of the stock is currently owned by corporate insiders.

Institutional Trading of MediaAlpha

Several large investors have recently modified their holdings of MAX. Quarry LP lifted its position in MediaAlpha by 157.8% during the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after acquiring an additional 1,726 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of MediaAlpha in the second quarter worth about $65,000. Sandia Investment Management LP acquired a new position in shares of MediaAlpha during the 2nd quarter worth about $79,000. nVerses Capital LLC bought a new stake in MediaAlpha during the 3rd quarter valued at approximately $116,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in MediaAlpha in the 2nd quarter valued at approximately $134,000. 64.39% of the stock is 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.