MediaAlpha, Inc. (NYSE:MAX) Stake Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 52.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,386 shares of the company's stock after purchasing an additional 42,315 shares during the period. JPMorgan Chase & Co. owned 0.18% of MediaAlpha worth $1,382,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new stake in shares of MediaAlpha in the 4th quarter worth $67,000. Ieq Capital LLC acquired a new position in MediaAlpha during the fourth quarter worth about $169,000. Robeco Institutional Asset Management B.V. grew its holdings in MediaAlpha by 73.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 21,140 shares of the company's stock worth $239,000 after acquiring an additional 8,938 shares during the period. US Bancorp DE raised its position in MediaAlpha by 35.6% in the fourth quarter. US Bancorp DE now owns 23,547 shares of the company's stock worth $266,000 after acquiring an additional 6,184 shares in the last quarter. Finally, Stoneridge Investment Partners LLC acquired a new stake in MediaAlpha in the 4th quarter valued at about $311,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

MediaAlpha Stock Performance

NYSE MAX opened at $8.38 on Friday. The firm's 50 day moving average price is $8.96 and its two-hundred day moving average price is $11.68. MediaAlpha, Inc. has a twelve month low of $7.33 and a twelve month high of $25.78. The stock has a market cap of $561.71 million, a price-to-earnings ratio of 49.29 and a beta of 1.11.

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

Analyst Ratings Changes

A number of analysts recently commented on the stock. Keefe, Bruyette & Woods dropped their target price on shares of MediaAlpha from $19.00 to $16.00 and set an "outperform" rating on the stock in a report on Tuesday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $20.00 price target on shares of MediaAlpha in a report on Tuesday, February 25th. Canaccord Genuity Group cut their price objective on MediaAlpha from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Monday, February 24th. The Goldman Sachs Group decreased their target price on MediaAlpha from $14.00 to $12.50 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. reduced their target price on MediaAlpha from $13.00 to $10.00 and set an "overweight" rating for the company in a report on Tuesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $17.21.

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.

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