MediaAlpha (NYSE:MAX) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan initiated coverage of MediaAlpha with a “neutral” rating and a $15 price target, implying approximately 14.3% upside from the stock’s previous close. The analyst consensus remains “Hold,” with an average target price of $14.29.
• MediaAlpha reported quarterly EPS of $0.65, exceeding the $0.23 consensus estimate, while revenue reached $316.88 million versus expectations of $300.87 million.
• Shares rose 1.5% to $13.13, while institutional investors own 64.39% of the company. Insiders sold 567,700 shares worth approximately $7.17 million over the past 90 days, with sales conducted under pre-arranged plans to cover tax obligations.

JPMorgan Chase & Co. initiated coverage on shares of MediaAlpha (NYSE:MAX - Get Free Report) in a research note issued to investors on Monday. The firm set a "neutral" rating and a $15.00 price target on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 14.26% from the stock's previous close.

Several other research analysts also recently weighed in on the company. Weiss Ratings upgraded MediaAlpha from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, July 1st. Capital One Financial set a $11.00 price target on MediaAlpha in a research note on Tuesday, June 9th. TD Cowen decreased their price target on MediaAlpha from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Tuesday, June 23rd. Texas Capital raised MediaAlpha to a "strong-buy" rating in a report on Tuesday, June 9th. Finally, Canaccord Genuity Group boosted their price target on MediaAlpha from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, MediaAlpha currently has an average rating of "Hold" and a consensus target price of $14.29.

MediaAlpha Stock Up 1.5%

Shares of MediaAlpha stock traded up $0.19 on Monday, reaching $13.13. The stock had a trading volume of 37,786 shares, compared to its average volume of 774,236. The stock has a market capitalization of $804.27 million, a P/E ratio of 8.10 and a beta of 1.11. The company has a 50 day moving average price of $12.74 and a 200 day moving average price of $10.39. MediaAlpha has a 1 year low of $7.09 and a 1 year high of $14.70.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.42. The company had revenue of $316.88 million during the quarter, compared to analysts' expectations of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. On average, analysts forecast that MediaAlpha will post 0.97 earnings per share for the current fiscal year.

Insider Activity at MediaAlpha

In other MediaAlpha news, CRO Keith Cramer sold 13,000 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $9.47, for a total transaction of $123,110.00. Following the sale, the executive owned 280,528 shares in the company, valued at approximately $2,656,600.16. The trade was a 4.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Eugene Nonko sold 25,352 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $13.86, for a total value of $351,378.72. Following the completion of the transaction, the director directly owned 1,137,304 shares in the company, valued at $15,763,033.44. This represents a 2.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 567,700 shares of company stock valued at $7,167,531 in the last ninety days. Company insiders own 14.65% of the company's stock.

Institutional Investors Weigh In On MediaAlpha

A number of large investors have recently bought and sold shares of MAX. Creative Planning purchased a new position in MediaAlpha during the 2nd quarter worth approximately $168,000. JPMorgan Chase & Co. raised its holdings in shares of MediaAlpha by 75.9% during the second quarter. JPMorgan Chase & Co. now owns 542,246 shares of the company's stock worth $5,938,000 after purchasing an additional 233,948 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of MediaAlpha by 29.3% during the second quarter. Legal & General Group Plc now owns 36,315 shares of the company's stock worth $398,000 after purchasing an additional 8,229 shares during the last quarter. Rhumbline Advisers lifted its position in MediaAlpha by 34.4% during the second quarter. Rhumbline Advisers now owns 55,622 shares of the company's stock valued at $609,000 after purchasing an additional 14,234 shares during the period. Finally, XTX Topco Ltd acquired a new position in MediaAlpha during the second quarter valued at $153,000. Hedge funds and other institutional investors own 64.39% of the company's stock.

MediaAlpha Company Profile

MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company's platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.

The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.

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