JPMorgan Chase & Co. Issues Pessimistic Forecast for MediaAlpha (NYSE:MAX) Stock Price

MediaAlpha (NYSE:MAX) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from $25.00 to $15.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 41.51% from the stock’s previous close.

A number of other research analysts have also recently issued reports on MAX. 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 note on Wednesday, December 4th. Keefe, Bruyette & Woods dropped their price target on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. Finally, The Goldman Sachs Group boosted their price objective on MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, MediaAlpha 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 firm has a market capitalization of $706.64 million, a P/E ratio of 62.35 and a beta of 1.12. The stock has a fifty day moving average price of $11.78 and a two-hundred day moving average price of $14.86. MediaAlpha has a 52-week low of $10.21 and a 52-week high of $25.78.

MediaAlpha (NYSE:MAX) last announced its 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. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The business had revenue of $259.13 million during the quarter, compared to analysts’ expectations of $246.96 million. On average, equities research analysts predict that MediaAlpha will post 0.42 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 value of $1,488,240.00. Following the completion of the sale, the insider now directly owns 1,550,990 shares of the company’s stock, valued at approximately $32,058,963.30. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.53% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MediaAlpha

Several large investors have recently made changes to their positions in MAX. Quarry LP increased its position in MediaAlpha by 157.8% in the third quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after purchasing an additional 1,726 shares during the period. Point72 DIFC Ltd bought a new position in shares of MediaAlpha in the 2nd quarter valued at about $65,000. Sandia Investment Management LP acquired a new stake in shares of MediaAlpha during the 2nd quarter worth approximately $79,000. nVerses Capital LLC bought a new stake in shares of MediaAlpha during the third quarter worth approximately $116,000. Finally, The Manufacturers Life Insurance Company acquired a new position in MediaAlpha in the second quarter valued at approximately $134,000. Institutional investors and hedge funds own 64.39% of the company’s stock.

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.