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

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

Several other equities research analysts also recently commented on the company. Royal Bank of Canada boosted their price objective on MediaAlpha from $12.00 to $18.00 and gave the company an outperform rating in a report on Wednesday, February 21st. Canaccord Genuity Group lifted their price objective on shares of MediaAlpha from $18.00 to $22.00 and gave the company a buy rating in a report on Wednesday, February 21st. BMO Capital Markets raised shares of MediaAlpha from a market perform rating to an outperform rating and boosted their target price for the stock from $9.00 to $28.00 in a research report on Monday, February 26th. Finally, TD Cowen initiated coverage on shares of MediaAlpha in a research report on Wednesday, January 10th. They issued an outperform rating and a $15.00 price target on the stock. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $21.50.

MediaAlpha Trading Up 0.5 %

Shares of MAX stock opened at $22.20 on Thursday. The stock has a 50 day simple moving average of $19.89 and a two-hundred day simple moving average of $14.34. MediaAlpha has a fifty-two week low of $5.08 and a fifty-two week high of $25.78.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, May 1st. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09. The business had revenue of $126.60 million during the quarter, compared to the consensus estimate of $111.17 million. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. On average, analysts forecast that MediaAlpha will post -0.28 earnings per share for the current year.

Insider Buying and Selling at MediaAlpha

In other news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.85, for a total value of $58,557,500.00. Following the transaction, the insider now owns 50,000 shares in the company, valued at approximately $992,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 11.53% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

Several institutional investors have recently added to or reduced their stakes in MAX. Norden Group LLC boosted its stake in MediaAlpha by 1,767.2% in the first quarter. Norden Group LLC now owns 263,592 shares of the company’s stock valued at $5,369,000 after acquiring an additional 249,475 shares during the last quarter. Nomura Holdings Inc. purchased a new position in MediaAlpha in the fourth quarter valued at about $1,364,000. Mariner LLC boosted its stake in MediaAlpha by 449.2% in the third quarter. Mariner LLC now owns 76,060 shares of the company’s stock valued at $628,000 after acquiring an additional 62,210 shares during the last quarter. Swiss National Bank boosted its stake in MediaAlpha by 4.6% in the third quarter. Swiss National Bank now owns 45,400 shares of the company’s stock valued at $375,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in MediaAlpha by 125.8% in the first quarter. Los Angeles Capital Management LLC now owns 24,535 shares of the company’s stock valued at $500,000 after acquiring an additional 13,670 shares during the last quarter. Institutional investors 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.