Bank of New York Mellon Corp Has $1.11 Million Stock Position in MediaAlpha, Inc. (NYSE:MAX)

Bank of New York Mellon Corp grew its holdings in MediaAlpha, Inc. (NYSE:MAX) by 15.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,155 shares of the company’s stock after purchasing an additional 11,503 shares during the period. Bank of New York Mellon Corp owned about 0.13% of MediaAlpha worth $1,108,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in MediaAlpha by 5.1% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,890 shares of the company’s stock valued at $315,000 after purchasing an additional 1,150 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in MediaAlpha by 9.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock worth $292,000 after buying an additional 1,235 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in MediaAlpha by 0.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 375,509 shares of the company’s stock worth $7,649,000 after acquiring an additional 1,667 shares in the last quarter. Norden Group LLC lifted its stake in MediaAlpha by 32.8% in the first quarter. Norden Group LLC now owns 18,750 shares of the company’s stock valued at $382,000 after acquiring an additional 4,633 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in MediaAlpha in the 1st quarter valued at about $136,000. Institutional investors own 64.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. TD Cowen downgraded MediaAlpha from a “buy” rating to a “hold” rating and cut their price target for the company from $19.00 to $13.00 in a report on Wednesday, June 26th. The Goldman Sachs Group began coverage on MediaAlpha in a report on Tuesday, August 20th. They set a “buy” rating and a $20.00 price objective for the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $26.00 target price (up previously from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. Finally, Royal Bank of Canada boosted their price target on MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, MediaAlpha has an average rating of “Moderate Buy” and an average target price of $24.29.

MediaAlpha Trading Down 0.9 %

Shares of MAX opened at $17.58 on Friday. The stock has a market capitalization of $1.16 billion, a PE ratio of -25.85 and a beta of 1.22. The firm’s 50 day moving average is $16.32 and its 200-day moving average is $17.49. MediaAlpha, Inc. has a 12 month low of $7.77 and a 12 month high of $25.78.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. The company had revenue of $178.27 million during the quarter, compared to analyst estimates of $151.40 million. MediaAlpha’s revenue was up 110.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.32) earnings per share. Equities research analysts predict that MediaAlpha, Inc. will post 0.35 earnings per share for the current fiscal year.

MediaAlpha 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.