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

MediaAlpha (NYSE:MAX - Free Report) had its price objective decreased by JPMorgan Chase & Co. from $25.00 to $15.00 in a research note released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods dropped their price objective on shares of MediaAlpha from $26.00 to $22.00 and set an "outperform" rating on the stock in a report on Wednesday, December 11th. Royal Bank of Canada lowered their price target on shares of MediaAlpha from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their price target on MediaAlpha from $20.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, MediaAlpha currently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

MediaAlpha Stock Down 6.0 %

Shares of MAX traded down $0.68 during trading hours on Friday, reaching $10.60. 430,347 shares of the company traded hands, compared to its average volume of 448,165. The stock has a market capitalization of $706.64 million, a P/E ratio of 62.35 and a beta of 1.12. The business has a fifty day moving average price of $11.78 and a 200-day moving average price of $14.85. MediaAlpha has a 12-month low of $10.21 and a 12-month high of $25.78.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.04. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The business had revenue of $259.13 million for the quarter, compared to the consensus estimate of $246.96 million. As a group, research analysts predict that MediaAlpha will post 0.42 EPS for the current fiscal year.

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the firm's stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 11.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in MAX. Driehaus Capital Management LLC raised its position in MediaAlpha by 208.4% during the second quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company's stock worth $18,920,000 after acquiring an additional 970,840 shares during the period. Clearline Capital LP increased its stake in shares of 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 purchasing an additional 664,691 shares in the last quarter. Divisadero Street Capital Management LP acquired a new position in shares of MediaAlpha during the 2nd quarter worth about $7,956,000. Ghisallo Capital Management LLC lifted its stake in MediaAlpha by 535.3% in the 2nd quarter. Ghisallo Capital Management LLC now owns 487,500 shares of the company's stock valued at $6,420,000 after buying an additional 410,764 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in MediaAlpha in the 2nd quarter worth about $4,702,000. 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.