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

MediaAlpha (NYSE:MAX) had its price target upped by analysts at JPMorgan Chase & Co. from $18.00 to $30.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 35.14% from the company’s previous close.

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

MediaAlpha Price Performance

Shares of MAX traded up $0.12 during mid-day trading on Thursday, reaching $22.20. 1,211,882 shares of the company’s stock traded hands, compared to its average volume of 433,425. The stock’s 50-day moving average is $19.89 and its two-hundred day moving average is $14.34. MediaAlpha has a 12 month low of $5.08 and a 12 month high of $25.78. The stock has a market cap of $1.46 billion, a P/E ratio of -32.65 and a beta of 1.32.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.02) EPS for the quarter, beating the consensus estimate 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. During the same period last year, the company earned ($0.23) EPS. The business’s revenue was up 13.4% compared to the same quarter last year. Research analysts predict that MediaAlpha will post -0.4 earnings per share for the current year.

Insider Activity

In related 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 shares were sold at an average price of $19.85, for a total value of $58,557,500.00. Following the completion of the transaction, the insider now 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 accessible through this link. Company insiders own 11.53% of the company’s stock.

Institutional Trading of MediaAlpha

Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its position 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 buying an additional 2,343 shares during the last quarter. SYSTM Wealth Solutions LLC acquired a new stake in MediaAlpha in the first quarter valued at approximately $178,000. Alliance Wealth Advisors LLC UT purchased a new position in MediaAlpha in the third quarter worth $84,000. Baker Tilly Wealth Management LLC increased its position in shares of MediaAlpha by 13.7% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock worth $154,000 after purchasing an additional 1,660 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of MediaAlpha by 305.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 16,404 shares of the company’s stock worth $135,000 after purchasing an additional 12,355 shares in the last quarter. 64.39% of the stock is 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.