Teacher Retirement System of Texas Sells 159,689 Shares of MediaAlpha, Inc. (NYSE:MAX)

Teacher Retirement System of Texas trimmed its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 81.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,539 shares of the company’s stock after selling 159,689 shares during the period. Teacher Retirement System of Texas owned about 0.06% of MediaAlpha worth $424,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of MediaAlpha by 28.9% in the third quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock valued at $12,509,000 after buying an additional 154,637 shares during the period. Barclays PLC lifted its holdings in MediaAlpha by 423.2% during the third quarter. Barclays PLC now owns 66,525 shares of the company’s stock valued at $1,204,000 after purchasing an additional 53,809 shares during the last quarter. JPMorgan Chase & Co. boosted its position in MediaAlpha by 655.8% during the third quarter. JPMorgan Chase & Co. now owns 80,071 shares of the company’s stock worth $1,450,000 after purchasing an additional 69,477 shares during the period. PDT Partners LLC bought a new position in MediaAlpha during the third quarter worth about $1,237,000. Finally, Rhumbline Advisers raised its position in shares of 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 purchasing an additional 1,782 shares during the period. 64.39% of the stock is owned by hedge funds and other institutional investors.

MediaAlpha Stock Down 1.1 %

Shares of NYSE MAX opened at $9.25 on Tuesday. The stock’s 50-day simple moving average is $10.59 and its two-hundred day simple moving average is $12.99. MediaAlpha, Inc. has a twelve month low of $8.21 and a twelve month high of $25.78. The firm has a market capitalization of $620.03 million, a P/E ratio of 54.41 and a beta of 1.15.

MediaAlpha (NYSE:MAX) last announced 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). MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The company had revenue of $300.65 million during the quarter, compared to analysts’ expectations of $289.38 million. As a group, research analysts anticipate that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.