MediaAlpha (NYSE:MAX) PT Raised to $30.00 at JPMorgan Chase & Co.

MediaAlpha (NYSE:MAX) had its price objective upped by equities research analysts at JPMorgan Chase & Co. from $18.00 to $30.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 35.14% from the company’s previous close.

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

MediaAlpha Trading Up 0.5 %

NYSE MAX traded up $0.12 on Thursday, hitting $22.20. The company’s stock had a trading volume of 1,211,882 shares, compared to its average volume of 433,425. MediaAlpha has a 52-week low of $5.08 and a 52-week high of $25.78. The firm has a market cap of $1.46 billion, a P/E ratio of -32.65 and a beta of 1.32. The company’s 50-day simple moving average is $19.89 and its 200 day simple moving average is $14.34.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.02) EPS 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 analysts’ expectations of $111.17 million. The business’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.23) EPS. On average, research analysts forecast that MediaAlpha will post -0.4 EPS for the current fiscal year.

Insider Transactions at MediaAlpha

In related 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 transaction of $58,557,500.00. Following the sale, the insider now directly owns 50,000 shares of the company’s stock, valued at approximately $992,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.53% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

A number of hedge funds have recently added to or reduced their stakes in MAX. Tower Research Capital LLC TRC increased its holdings in shares of MediaAlpha by 111.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock worth $50,000 after purchasing an additional 2,343 shares in the last quarter. SYSTM Wealth Solutions LLC purchased a new position in MediaAlpha in the 1st quarter worth about $178,000. Alliance Wealth Advisors LLC UT bought a new position in MediaAlpha during the 3rd quarter valued at about $84,000. Baker Tilly Wealth Management LLC boosted its holdings in shares of MediaAlpha by 13.7% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock valued at $154,000 after acquiring an additional 1,660 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of MediaAlpha by 305.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 16,404 shares of the company’s stock worth $135,000 after acquiring an additional 12,355 shares during the period. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

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.