Rhumbline Advisers Increases Stake in MediaAlpha, Inc. (NYSE:MAX)

Rhumbline Advisers raised its position in MediaAlpha, Inc. (NYSE:MAX) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,431 shares of the company’s stock after buying an additional 1,782 shares during the quarter. Rhumbline Advisers owned approximately 0.07% of MediaAlpha worth $490,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP grew its holdings in MediaAlpha by 157.8% during the third quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after acquiring an additional 1,726 shares during the period. The Manufacturers Life Insurance Company boosted its position in MediaAlpha by 11.9% during the third quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock worth $206,000 after purchasing an additional 1,213 shares in the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in shares of MediaAlpha in the third quarter valued at $221,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of MediaAlpha in the third quarter valued at $262,000. Finally, MetLife Investment Management LLC lifted its position in MediaAlpha by 28.8% during the third quarter. MetLife Investment Management LLC now owns 17,446 shares of the company’s stock worth $316,000 after buying an additional 3,906 shares during the period. Hedge funds and other institutional investors own 64.39% of the company’s stock.

MediaAlpha Stock Performance

MediaAlpha stock opened at $8.78 on Friday. The business’s 50-day simple moving average is $11.16 and its 200-day simple moving average is $13.90. The firm has a market capitalization of $588.19 million, a PE ratio of 51.62 and a beta of 1.15. MediaAlpha, Inc. has a 52 week low of $8.65 and a 52 week high of $25.78.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The business had revenue of $300.65 million during the quarter, compared to the consensus estimate of $289.38 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. Research analysts forecast that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MAX. The Goldman Sachs Group reduced their target price on MediaAlpha from $23.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. Canaccord Genuity Group lowered their price objective on MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. lowered their target price on MediaAlpha from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 price target on shares of MediaAlpha in a research report on Tuesday, February 25th. Finally, Keefe, Bruyette & Woods decreased their target price on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

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.