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

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

MAX has been the subject of several other research reports. The Goldman Sachs Group upped their price target 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. Royal Bank of Canada dropped their price target on shares of MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods reduced their price objective on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, MediaAlpha has an average rating of “Moderate Buy” and an average target price of $22.00.

MediaAlpha Stock Down 6.0 %

Shares of NYSE MAX opened at $10.60 on Friday. The firm’s 50-day moving average price is $11.78 and its two-hundred day moving average price is $14.85. MediaAlpha has a 52-week low of $10.21 and a 52-week high of $25.78. The stock has a market capitalization of $706.64 million, a P/E ratio of 62.35 and a beta of 1.12.

MediaAlpha (NYSE:MAX) last announced 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 business had revenue of $259.13 million for 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, equities research analysts expect that MediaAlpha will post 0.42 earnings per share for the current year.

Insider Transactions at MediaAlpha

In other news, insider Eugene Nonko sold 72,000 shares of the business’s 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 sale, the insider now owns 1,550,990 shares of the company’s stock, valued at approximately $32,058,963.30. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

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