JPMorgan Chase & Co. Has $1.45 Million Stake in MediaAlpha, Inc. (NYSE:MAX)

JPMorgan Chase & Co. boosted its stake in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 655.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,071 shares of the company's stock after purchasing an additional 69,477 shares during the quarter. JPMorgan Chase & Co. owned 0.12% of MediaAlpha worth $1,450,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of MediaAlpha by 28.9% during the third quarter. Geode Capital Management LLC now owns 690,574 shares of the company's stock valued at $12,509,000 after purchasing an additional 154,637 shares during the period. GSA Capital Partners LLP acquired a new stake in MediaAlpha during the third quarter worth $804,000. Barclays PLC increased its holdings in MediaAlpha by 423.2% in the 3rd quarter. Barclays PLC now owns 66,525 shares of the company's stock valued at $1,204,000 after buying an additional 53,809 shares during the period. PDT Partners LLC acquired a new position in shares of MediaAlpha in the 3rd quarter valued at $1,237,000. Finally, Ghisallo Capital Management LLC lifted its holdings in shares of MediaAlpha by 535.3% during the 2nd quarter. Ghisallo Capital Management LLC now owns 487,500 shares of the company's stock worth $6,420,000 after acquiring an additional 410,764 shares during the period. 64.39% of the stock is owned by institutional investors.

MediaAlpha Price Performance

Shares of NYSE MAX traded up $0.02 during mid-day trading on Friday, hitting $10.99. The company's stock had a trading volume of 230,642 shares, compared to its average volume of 395,936. MediaAlpha, Inc. has a one year low of $10.21 and a one year high of $25.78. The company's fifty day simple moving average is $11.50 and its 200-day simple moving average is $14.73. The stock has a market cap of $732.59 million, a price-to-earnings ratio of 64.65 and a beta of 1.12.

MediaAlpha (NYSE:MAX - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The company had revenue of $259.13 million during the quarter, compared to analysts' expectations of $246.96 million. On average, sell-side analysts predict that MediaAlpha, Inc. will post 0.48 EPS for the current year.

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the company's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total value of $1,488,240.00. Following the completion of the sale, the insider now owns 1,550,990 shares of the company's stock, valued at approximately $32,058,963.30. This 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 the SEC website. Insiders own 11.53% of the company's stock.

Wall Street Analysts Forecast Growth

MAX has been the topic of a number of analyst reports. Royal Bank of Canada dropped their price target on shares of MediaAlpha from $23.00 to $20.00 and set an "outperform" rating for the company in a research report on Wednesday, December 4th. The Goldman Sachs Group reduced their price target on shares of MediaAlpha from $26.00 to $23.00 and set a "buy" rating on the stock in a research report on Tuesday, January 14th. JPMorgan Chase & Co. dropped their price objective on shares of MediaAlpha from $25.00 to $15.00 and set an "overweight" rating for the company in a report on Friday, January 10th. Finally, Keefe, Bruyette & Woods dropped their price target on MediaAlpha from $26.00 to $22.00 and set an "outperform" rating for the company in a report on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $21.57.

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.