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

MediaAlpha (NYSE:MAX) had its target price increased by stock analysts at JPMorgan Chase & Co. from $18.00 to $30.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 28.10% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Canaccord Genuity Group raised their price target on MediaAlpha from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. TD Cowen assumed coverage on MediaAlpha in a research note on Wednesday, January 10th. They set an “outperform” rating and a $15.00 price objective on the stock. Royal Bank of Canada boosted their target price on MediaAlpha from $12.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. Finally, BMO Capital Markets upgraded shares of MediaAlpha from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $9.00 to $28.00 in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, MediaAlpha presently has an average rating of “Moderate Buy” and an average price target of $20.17.

MediaAlpha Price Performance

MAX stock traded up $2.36 during midday trading on Thursday, hitting $23.42. The stock had a trading volume of 571,503 shares, compared to its average volume of 299,903. The business has a 50-day moving average of $19.78 and a two-hundred day moving average of $14.16. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -26.38 and a beta of 1.32. MediaAlpha has a 52-week low of $5.08 and a 52-week high of $25.78.

MediaAlpha (NYSE:MAX) last released 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 for the quarter, compared to analysts’ expectations of $111.17 million. The company’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the business earned ($0.23) earnings per share. Research analysts predict that MediaAlpha will post -0.4 earnings per share for the current year.

Insider Activity at MediaAlpha

In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the firm’s 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 transaction, the insider now owns 50,000 shares of the company’s stock, valued at approximately $992,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.53% of the stock is owned by company insiders.

Institutional Investors Weigh In On MediaAlpha

Institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC increased its position in MediaAlpha by 111.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock valued at $50,000 after buying an additional 2,343 shares in the last quarter. Alliance Wealth Advisors LLC UT purchased a new position in shares of MediaAlpha in the 3rd quarter valued at approximately $84,000. Allspring Global Investments Holdings LLC boosted its stake in MediaAlpha by 305.1% in the 3rd 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. Baker Tilly Wealth Management LLC increased its stake in 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 purchasing an additional 1,660 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of MediaAlpha in the 3rd quarter valued at $162,000. 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.