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

MediaAlpha (NYSE:MAX) had its price objective decreased by analysts at JPMorgan Chase & Co. from $15.00 to $13.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 42.37% from the stock’s previous close.

A number of other research firms have also recently issued reports on MAX. Canaccord Genuity Group decreased their price target on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a report on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price target on shares of MediaAlpha in a research report on Tuesday. Keefe, Bruyette & Woods dropped their price target on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, The Goldman Sachs Group decreased their target price on MediaAlpha from $23.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, MediaAlpha presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

MediaAlpha Stock Performance

MAX stock traded down $2.28 on Tuesday, hitting $9.13. 1,795,430 shares of the company’s stock were exchanged, compared to its average volume of 419,080. The firm has a 50 day moving average price of $11.54 and a two-hundred day moving average price of $14.35. MediaAlpha has a 12-month low of $8.69 and a 12-month high of $25.78. The stock has a market cap of $608.71 million, a P/E ratio of 53.59 and a beta of 1.12.

MediaAlpha (NYSE:MAX) last issued its quarterly 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 for 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%. Sell-side analysts expect that MediaAlpha will post 0.48 earnings per share for the current fiscal year.

Institutional Trading of MediaAlpha

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in MediaAlpha by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 3,623,344 shares of the company’s stock valued at $40,908,000 after acquiring an additional 169,654 shares in the last quarter. TimesSquare Capital Management LLC lifted its stake in shares of MediaAlpha by 77.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company’s stock valued at $18,389,000 after purchasing an additional 712,410 shares during the period. Clearline Capital LP boosted its holdings in MediaAlpha by 115.3% during the third quarter. Clearline Capital LP now owns 1,241,419 shares of the company’s stock worth $22,482,000 after buying an additional 664,691 shares in the last quarter. Millennium Management LLC grew its position in MediaAlpha by 91.0% during the fourth quarter. Millennium Management LLC now owns 781,349 shares of the company’s stock valued at $8,821,000 after buying an additional 372,305 shares during the period. Finally, Geode Capital Management LLC increased its holdings in MediaAlpha by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 698,703 shares of the company’s stock valued at $7,890,000 after buying an additional 8,129 shares in the last quarter. Hedge funds and other 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.