JPMorgan Chase & Co. Cuts MediaAlpha (NYSE:MAX) Price Target to $13.00

MediaAlpha (NYSE:MAX) had its price objective trimmed by JPMorgan Chase & Co. from $15.00 to $13.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on MAX. Keefe, Bruyette & Woods dropped their target price on shares of MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price target on shares of MediaAlpha in a research note on Tuesday. The Goldman Sachs Group reduced their price objective on MediaAlpha from $23.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Canaccord Genuity Group dropped their target price on MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a hold rating and five have given 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 $17.50.

MediaAlpha Price Performance

MAX stock opened at $9.33 on Tuesday. The stock has a market capitalization of $621.71 million, a P/E ratio of 54.86 and a beta of 1.12. MediaAlpha has a 1-year low of $8.65 and a 1-year high of $25.78. The business has a fifty day moving average price of $11.41 and a 200-day moving average price of $14.24.

MediaAlpha (NYSE:MAX) last issued its earnings results on Monday, February 24th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The business had revenue of $300.65 million during the quarter, compared to analysts’ expectations of $289.38 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. As a group, analysts anticipate that MediaAlpha will post 0.48 earnings per share for the current year.

Institutional Investors Weigh In On MediaAlpha

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC bought a new stake in MediaAlpha during the third quarter valued at about $491,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of MediaAlpha during the 3rd quarter valued at about $221,000. Los Angeles Capital Management LLC grew its stake in shares of MediaAlpha by 91.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 55,183 shares of the company’s stock valued at $999,000 after acquiring an additional 26,420 shares during the period. GSA Capital Partners LLP bought a new position in shares of MediaAlpha during the 3rd quarter valued at approximately $804,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in MediaAlpha in the 3rd quarter worth approximately $744,000. 64.39% of the stock is currently owned by hedge funds and other 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.