MediaAlpha (NYSE:MAX) Price Target Cut to $13.00 by Analysts at JPMorgan Chase & Co.

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

A number of other analysts also recently weighed in on MAX. The Goldman Sachs Group cut their price target on shares of MediaAlpha from $23.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 target price on shares of MediaAlpha in a report on Tuesday. Canaccord Genuity Group decreased their price target on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a report on Monday. Finally, Keefe, Bruyette & Woods dropped their price objective on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, MediaAlpha presently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

MediaAlpha Stock Down 19.0 %

MediaAlpha stock opened at $9.25 on Tuesday. MediaAlpha has a 12-month low of $8.69 and a 12-month high of $25.78. The business’s 50-day simple moving average is $11.49 and its 200 day simple moving average is $14.31. The stock has a market cap of $616.38 million, a price-to-earnings ratio of 54.39 and a beta of 1.12.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The company had revenue of $300.65 million for the quarter, compared to analyst estimates of $289.38 million. As a group, sell-side analysts expect that MediaAlpha will post 0.48 EPS for the current year.

Institutional Investors Weigh In On MediaAlpha

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. increased its holdings in MediaAlpha by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 208,900 shares of the company’s stock worth $2,358,000 after purchasing an additional 800 shares in the last quarter. Covestor Ltd boosted its position in shares of MediaAlpha by 44.1% during the fourth quarter. Covestor Ltd now owns 2,766 shares of the company’s stock worth $31,000 after buying an additional 847 shares during the period. Earnest Partners LLC grew its holdings in shares of MediaAlpha by 0.4% during the fourth quarter. Earnest Partners LLC now owns 241,559 shares of the company’s stock worth $2,727,000 after buying an additional 1,021 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in MediaAlpha by 11.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock valued at $206,000 after buying an additional 1,213 shares during the last quarter. Finally, Quarry LP raised its position in MediaAlpha by 157.8% in the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock valued at $51,000 after buying an additional 1,726 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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.