Bank of New York Mellon Corp Grows Position in MediaAlpha, Inc. (NYSE:MAX)

Bank of New York Mellon Corp raised its position in shares of MediaAlpha, Inc. (NYSE:MAX) by 17.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,949 shares of the company’s stock after acquiring an additional 13,356 shares during the period. Bank of New York Mellon Corp owned approximately 0.13% of MediaAlpha worth $1,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP increased its position in MediaAlpha by 157.8% in the third quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after purchasing an additional 1,726 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of MediaAlpha by 11.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock worth $206,000 after buying an additional 1,213 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of MediaAlpha in the 3rd quarter worth about $262,000. Ieq Capital LLC purchased a new stake in shares of MediaAlpha during the 4th quarter valued at about $169,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of MediaAlpha by 28.8% in 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 during the last quarter. 64.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

MediaAlpha Stock Up 1.5 %

Shares of MediaAlpha stock opened at $9.87 on Tuesday. The stock’s fifty day moving average is $10.73 and its two-hundred day moving average is $13.25. MediaAlpha, Inc. has a 52 week low of $8.21 and a 52 week high of $25.78. The company has a market capitalization of $661.45 million, a PE ratio of 58.05 and a beta of 1.15.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings results on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The company had revenue of $300.65 million during the quarter, compared to the consensus estimate of $289.38 million. As a group, research analysts anticipate 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.