JPMorgan Chase & Co. grew its position in MediaAlpha, Inc. (NYSE:MAX - Free Report) by 52.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,386 shares of the company's stock after buying an additional 42,315 shares during the period. JPMorgan Chase & Co. owned 0.18% of MediaAlpha worth $1,382,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Segall Bryant & Hamill LLC purchased a new position in shares of MediaAlpha during the fourth quarter worth $826,000. Vanguard Group Inc. lifted its holdings in MediaAlpha by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 3,623,344 shares of the company's stock worth $40,908,000 after buying an additional 169,654 shares in the last quarter. Fox Run Management L.L.C. boosted its position in MediaAlpha by 54.0% in the 4th quarter. Fox Run Management L.L.C. now owns 46,797 shares of the company's stock valued at $528,000 after buying an additional 16,404 shares during the period. KLP Kapitalforvaltning AS acquired a new position in shares of MediaAlpha in the fourth quarter worth $67,000. Finally, Hillsdale Investment Management Inc. increased its position in shares of MediaAlpha by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 208,900 shares of the company's stock worth $2,358,000 after acquiring an additional 800 shares during the period. Institutional investors and hedge funds own 64.39% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have weighed in on MAX. JPMorgan Chase & Co. cut their price target on MediaAlpha from $13.00 to $10.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada restated an "outperform" rating and set a $20.00 target price on shares of MediaAlpha in a research note on Tuesday, February 25th. BMO Capital Markets reduced their target price on shares of MediaAlpha from $27.00 to $23.00 and set an "outperform" rating on the stock in a report on Thursday, April 3rd. Canaccord Genuity Group lowered their price target on shares of MediaAlpha from $30.00 to $26.00 and set a "buy" rating for the company in a report on Monday, February 24th. Finally, The Goldman Sachs Group reduced their price objective on shares of MediaAlpha from $14.00 to $12.50 and set a "buy" rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $17.21.
Read Our Latest Stock Report on MAX
MediaAlpha Price Performance
Shares of NYSE:MAX traded up $1.74 during trading on Thursday, hitting $10.14. 350,365 shares of the company were exchanged, compared to its average volume of 659,711. The firm's 50 day moving average price is $8.75 and its 200-day moving average price is $11.48. The stock has a market capitalization of $679.68 million, a P/E ratio of 59.65 and a beta of 1.11. MediaAlpha, Inc. has a 12-month low of $7.33 and a 12-month high of $25.78.
MediaAlpha (NYSE:MAX - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.16). MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The firm had revenue of $300.65 million for the quarter, compared to analysts' expectations of $289.38 million. As a group, equities research analysts anticipate that MediaAlpha, Inc. will post 0.48 EPS for the current year.
About MediaAlpha
(
Free Report)
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.
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