JPMorgan Chase & Co. Has Lowered Expectations for MediaAlpha (NYSE:MAX) Stock Price

MediaAlpha (NYSE:MAX) had its price objective dropped by analysts at JPMorgan Chase & Co. from $13.00 to $10.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 20.34% from the company’s previous close.

MAX has been the topic of several other research reports. The Goldman Sachs Group decreased their target price on MediaAlpha from $14.00 to $12.50 and set a “buy” rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 target price on shares of MediaAlpha in a report on Tuesday, February 25th. Canaccord Genuity Group decreased their price target on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. BMO Capital Markets cut their price objective on shares of MediaAlpha from $27.00 to $23.00 and set an “outperform” rating for the company in a report on Thursday, April 3rd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of MediaAlpha from $19.00 to $16.00 and set an “outperform” rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.21.

MediaAlpha Trading Up 3.0 %

Shares of NYSE MAX opened at $8.31 on Tuesday. The company has a market capitalization of $557.02 million, a P/E ratio of 48.88 and a beta of 1.11. MediaAlpha has a 12 month low of $7.33 and a 12 month high of $25.78. The stock has a 50 day moving average of $9.11 and a 200-day moving average of $11.80.

MediaAlpha (NYSE:MAX) last released its quarterly earnings data on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.16). The company had revenue of $300.65 million during the quarter, compared to analyst estimates of $289.38 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. Analysts predict that MediaAlpha will post 0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On MediaAlpha

Hedge funds have recently bought and sold shares of the company. Hillsdale Investment Management Inc. boosted its position in shares of MediaAlpha by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 208,900 shares of the company’s stock worth $2,358,000 after acquiring an additional 800 shares in the last quarter. Covestor Ltd raised its position in MediaAlpha by 44.1% during the fourth quarter. Covestor Ltd now owns 2,766 shares of the company’s stock valued at $31,000 after purchasing an additional 847 shares in the last quarter. Earnest Partners LLC lifted its stake in MediaAlpha by 0.4% during the fourth quarter. Earnest Partners LLC now owns 241,559 shares of the company’s stock worth $2,727,000 after purchasing an additional 1,021 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of MediaAlpha by 4.3% in the 4th quarter. Rhumbline Advisers now owns 43,431 shares of the company’s stock valued at $490,000 after purchasing an additional 1,782 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of MediaAlpha by 14.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,236 shares of the company’s stock valued at $229,000 after purchasing an additional 2,492 shares in the last quarter. 64.39% of the stock is owned by institutional investors.

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.