MediaAlpha, Inc. (NYSE:MAX) Position Lessened by AlphaQuest LLC

AlphaQuest LLC decreased its stake in MediaAlpha, Inc. (NYSE:MAX) by 61.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,356 shares of the company’s stock after selling 3,688 shares during the period. AlphaQuest LLC’s holdings in MediaAlpha were worth $27,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Quarry LP raised its stake in MediaAlpha by 157.8% during the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock valued at $51,000 after acquiring an additional 1,726 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in MediaAlpha by 11.9% during the 3rd 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 in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in MediaAlpha during the 3rd quarter valued at $262,000. Ieq Capital LLC bought a new stake in MediaAlpha during the 4th quarter valued at $169,000. Finally, MetLife Investment Management LLC raised its stake in MediaAlpha by 28.8% during the 3rd 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 in the last quarter. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Stock Performance

Shares of MAX stock opened at $9.72 on Friday. MediaAlpha, Inc. has a 1 year low of $8.21 and a 1 year high of $25.78. The stock has a market cap of $651.20 million, a PE ratio of 57.15 and a beta of 1.15. The business’s fifty day moving average is $10.76 and its 200-day moving average is $13.36.

MediaAlpha (NYSE:MAX) last issued its 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). The company had revenue of $300.65 million during the quarter, compared to analyst estimates of $289.38 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. Equities research analysts predict that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have weighed in on MAX. Keefe, Bruyette & Woods cut their target price on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. The Goldman Sachs Group cut their target price on MediaAlpha from $23.00 to $14.00 and set a “buy” rating on the stock in a research note 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. Canaccord Genuity Group lowered their price target on MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lowered their price target on MediaAlpha from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.