JPMorgan Chase & Co. Cuts MediaAlpha (NYSE:MAX) Price Target to $10.00

MediaAlpha (NYSE:MAX) had its target price lowered by JPMorgan Chase & Co. from $13.00 to $10.00 in a report released on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other analysts have also commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price objective on shares of MediaAlpha in a report on Tuesday, February 25th. The Goldman Sachs Group decreased their price target on MediaAlpha from $14.00 to $12.50 and set a “buy” rating for the company in a research note on Monday, April 14th. Keefe, Bruyette & Woods dropped their price target on MediaAlpha from $19.00 to $16.00 and set an “outperform” rating on the stock in a research note on Tuesday. Canaccord Genuity Group decreased their price objective on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, February 24th. 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 research report on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $17.21.

MediaAlpha Stock Up 2.2 %

Shares of NYSE:MAX opened at $8.47 on Tuesday. The company has a market capitalization of $567.74 million, a price-to-earnings ratio of 49.82 and a beta of 1.11. The firm has a 50 day moving average of $9.02 and a 200 day moving average of $11.74. MediaAlpha has a 52 week low of $7.33 and a 52 week high of $25.78.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.08 earnings per share 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 analysts’ expectations of $289.38 million. On average, sell-side analysts expect that MediaAlpha will post 0.48 EPS for the current year.

Hedge Funds Weigh In On MediaAlpha

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hillsdale Investment Management Inc. boosted its holdings in shares of MediaAlpha by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 208,900 shares of the company’s stock valued at $2,358,000 after acquiring an additional 800 shares during the last quarter. Covestor Ltd boosted its holdings in MediaAlpha by 44.1% in the fourth 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 last quarter. Earnest Partners LLC grew its position in MediaAlpha by 0.4% during the 4th 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 during the period. Rhumbline Advisers grew its position in MediaAlpha by 4.3% during the 4th 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 raised its stake in shares of MediaAlpha by 14.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,236 shares of the company’s stock valued at $229,000 after buying an additional 2,492 shares during the last quarter. Institutional investors and hedge funds 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.