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

MediaAlpha (NYSE:MAX - Free Report) had its price target cut by JPMorgan Chase & Co. from $15.00 to $13.00 in a report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts have also weighed in on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and set a $20.00 target price on shares of MediaAlpha in a report on Tuesday. Keefe, Bruyette & Woods decreased their price target on shares of MediaAlpha from $22.00 to $19.00 and set an "outperform" rating on the stock in a report on Tuesday. Canaccord Genuity Group lowered their price objective on MediaAlpha from $30.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday. Finally, The Goldman Sachs Group reduced their target price on MediaAlpha from $23.00 to $14.00 and set a "buy" rating for the company in a research report on Tuesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $17.50.

MediaAlpha Stock Performance

MediaAlpha stock traded down $0.07 during mid-day trading on Tuesday, reaching $9.31. The company's stock had a trading volume of 526,649 shares, compared to its average volume of 481,040. The firm's fifty day moving average price is $11.37 and its two-hundred day moving average price is $14.20. MediaAlpha has a 12-month low of $8.65 and a 12-month high of $25.78. The company has a market capitalization of $620.31 million, a P/E ratio of 54.74 and a beta of 1.12.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MAX. Mackenzie Financial Corp boosted its holdings in shares of MediaAlpha by 354.3% in the 4th quarter. Mackenzie Financial Corp now owns 60,259 shares of the company's stock worth $680,000 after purchasing an additional 46,996 shares in the last quarter. PharVision Advisers LLC purchased a new position in shares of MediaAlpha during the 4th quarter valued at about $279,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in MediaAlpha by 21.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 89,478 shares of the company's stock worth $1,010,000 after buying an additional 16,050 shares during the last quarter. Virtus Fund Advisers LLC purchased a new stake in MediaAlpha in the fourth quarter worth approximately $35,000. Finally, Virtus Investment Advisers Inc. bought a new position in MediaAlpha during the fourth quarter valued at approximately $172,000. 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.