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

MediaAlpha (NYSE:MAX - Free Report) had its target price reduced by JPMorgan Chase & Co. from $13.00 to $10.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also issued reports about the company. Canaccord Genuity Group decreased their price target on MediaAlpha from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $20.00 target price on shares of MediaAlpha in a research note on Tuesday, February 25th. The Goldman Sachs Group dropped their price target on shares of MediaAlpha from $14.00 to $12.50 and set a "buy" rating on the stock in a research report on Monday, April 14th. Keefe, Bruyette & Woods reduced their price objective on shares of MediaAlpha from $19.00 to $16.00 and set an "outperform" rating for the company in a research report on Tuesday. Finally, BMO Capital Markets dropped their target price on shares of MediaAlpha from $27.00 to $23.00 and set an "outperform" rating on the stock in a report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, MediaAlpha has an average rating of "Moderate Buy" and a consensus price target of $17.21.

MediaAlpha Price Performance

Shares of MAX traded down $0.16 during trading hours on Tuesday, reaching $8.31. 37,535 shares of the company's stock traded hands, compared to its average volume of 653,916. MediaAlpha has a twelve month low of $7.33 and a twelve month high of $25.78. The business's fifty day simple moving average is $9.02 and its two-hundred day simple moving average is $11.74. The firm has a market capitalization of $557.02 million, a price-to-earnings ratio of 48.97 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 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.16). The company had revenue of $300.65 million for the quarter, compared to analyst estimates of $289.38 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. On average, equities research analysts expect that MediaAlpha will post 0.48 EPS for the current year.

Institutional Trading of MediaAlpha

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Hillsdale Investment Management Inc. boosted its holdings in shares of MediaAlpha by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 208,900 shares of the company's stock worth $2,358,000 after buying an additional 800 shares during the period. Covestor Ltd increased its holdings in shares of MediaAlpha by 44.1% in the 4th quarter. Covestor Ltd now owns 2,766 shares of the company's stock valued at $31,000 after purchasing an additional 847 shares during the period. Earnest Partners LLC lifted its position in shares of MediaAlpha by 0.4% in the fourth quarter. Earnest Partners LLC now owns 241,559 shares of the company's stock worth $2,727,000 after purchasing an additional 1,021 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of MediaAlpha by 4.3% during the fourth quarter. Rhumbline Advisers now owns 43,431 shares of the company's stock worth $490,000 after purchasing an additional 1,782 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in MediaAlpha by 14.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,236 shares of the company's stock valued at $229,000 after purchasing an additional 2,492 shares in the last quarter. Institutional investors and hedge funds own 64.39% of the company's stock.

MediaAlpha Company Profile

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.