US Bancorp DE Grows Stake in MediaAlpha, Inc. (NYSE:MAX)

US Bancorp DE raised its stake in MediaAlpha, Inc. (NYSE:MAX) by 35.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,547 shares of the company’s stock after acquiring an additional 6,184 shares during the quarter. US Bancorp DE’s holdings in MediaAlpha were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its stake in MediaAlpha by 11.9% in the third quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock valued at $206,000 after acquiring an additional 1,213 shares during the last quarter. Quarry LP boosted its stake in MediaAlpha by 157.8% in the third quarter. Quarry LP now owns 2,820 shares of the company’s stock valued at $51,000 after acquiring an additional 1,726 shares during the last quarter. Rhumbline Advisers boosted its stake in MediaAlpha by 4.3% in the fourth quarter. Rhumbline Advisers now owns 43,431 shares of the company’s stock valued at $490,000 after acquiring an additional 1,782 shares during the last quarter. MetLife Investment Management LLC boosted its stake in MediaAlpha by 28.8% in the third quarter. MetLife Investment Management LLC now owns 17,446 shares of the company’s stock valued at $316,000 after acquiring an additional 3,906 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in MediaAlpha by 8.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,428 shares of the company’s stock valued at $1,330,000 after acquiring an additional 5,708 shares during the last quarter. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MAX has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods dropped their target price on shares of MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. Canaccord Genuity Group dropped their price target on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, February 24th. Royal Bank of Canada restated an “outperform” rating and set a $20.00 price target on shares of MediaAlpha in a research note on Tuesday, February 25th. JPMorgan Chase & Co. dropped their price target on shares of MediaAlpha from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group dropped their price target on shares of MediaAlpha from $23.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, MediaAlpha has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

MediaAlpha Trading Up 4.1 %

MediaAlpha stock opened at $9.29 on Friday. The firm’s 50 day simple moving average is $10.92 and its 200 day simple moving average is $13.63. The firm has a market capitalization of $622.98 million, a PE ratio of 54.67 and a beta of 1.15. MediaAlpha, Inc. has a 1-year low of $8.21 and a 1-year high of $25.78.

MediaAlpha (NYSE:MAX) last posted its earnings results on Monday, February 24th. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The firm had revenue of $300.65 million for 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.

About MediaAlpha

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.