JPMorgan Chase & Co. Increases MediaAlpha (NYSE:MAX) Price Target to $30.00

MediaAlpha (NYSE:MAX) had its price objective boosted by JPMorgan Chase & Co. from $18.00 to $30.00 in a report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities analysts have also issued reports on the stock. Royal Bank of Canada increased their target price on shares of MediaAlpha from $12.00 to $18.00 and gave the company an outperform rating in a research report on Wednesday, February 21st. TD Cowen initiated coverage on MediaAlpha in a report on Wednesday, January 10th. They set an outperform rating and a $15.00 price objective on the stock. BMO Capital Markets upgraded MediaAlpha from a market perform rating to an outperform rating and lifted their price objective for the stock from $9.00 to $28.00 in a research note on Monday, February 26th. Finally, Canaccord Genuity Group increased their price target on shares of MediaAlpha from $18.00 to $22.00 and gave the company a buy rating in a report on Wednesday, February 21st. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $21.50.

MediaAlpha Stock Performance

MediaAlpha stock traded down $0.12 during trading on Thursday, hitting $22.08. The company’s stock had a trading volume of 210,711 shares, compared to its average volume of 317,700. MediaAlpha has a 1-year low of $5.33 and a 1-year high of $25.78. The stock’s fifty day moving average is $19.89 and its 200 day moving average is $14.40.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, May 1st. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.09. The company had revenue of $126.60 million for the quarter, compared to analysts’ expectations of $111.17 million. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.23) earnings per share. Equities research analysts anticipate that MediaAlpha will post -0.28 earnings per share for the current year.

Insider Activity

In other news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.85, for a total value of $58,557,500.00. Following the transaction, the insider now directly owns 50,000 shares of the company’s stock, valued at $992,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.53% of the stock is currently owned by insiders.

Institutional Trading of MediaAlpha

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Norden Group LLC boosted its stake in shares of MediaAlpha by 1,767.2% during the first quarter. Norden Group LLC now owns 263,592 shares of the company’s stock valued at $5,369,000 after purchasing an additional 249,475 shares in the last quarter. Nomura Holdings Inc. bought a new position in MediaAlpha in the 4th quarter valued at about $1,364,000. Mariner LLC raised its position in MediaAlpha by 449.2% in the 3rd quarter. Mariner LLC now owns 76,060 shares of the company’s stock valued at $628,000 after buying an additional 62,210 shares during the last quarter. Swiss National Bank lifted its position in shares of MediaAlpha by 4.6% during the third quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $375,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in shares of MediaAlpha by 125.8% in the 1st quarter. Los Angeles Capital Management LLC now owns 24,535 shares of the company’s stock worth $500,000 after buying an additional 13,670 shares during the last quarter. Institutional investors 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.