State Street Corp Increases Holdings in MediaAlpha, Inc. (NYSE:MAX)

State Street Corp raised its stake in MediaAlpha, Inc. (NYSE:MAX) by 7.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 547,906 shares of the company’s stock after acquiring an additional 35,960 shares during the period. State Street Corp owned approximately 0.83% of MediaAlpha worth $9,923,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in shares of MediaAlpha by 15.8% during the second quarter. Bank of New York Mellon Corp now owns 84,155 shares of the company’s stock valued at $1,108,000 after buying an additional 11,503 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in MediaAlpha by 354.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock valued at $114,000 after acquiring an additional 6,728 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in MediaAlpha during the 2nd quarter valued at $225,000. Rhumbline Advisers boosted its stake in MediaAlpha by 7.3% during the 2nd quarter. Rhumbline Advisers now owns 36,751 shares of the company’s stock valued at $484,000 after purchasing an additional 2,511 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new stake in shares of MediaAlpha in the 2nd quarter worth $477,000. 64.39% of the stock is currently owned by institutional investors.

MediaAlpha Stock Up 5.1 %

MediaAlpha stock opened at $11.41 on Friday. The business has a 50-day simple moving average of $13.48 and a two-hundred day simple moving average of $15.28. MediaAlpha, Inc. has a 52-week low of $10.21 and a 52-week high of $25.78. The company has a market cap of $760.64 million, a P/E ratio of 67.12 and a beta of 1.10.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The company had revenue of $259.13 million during the quarter, compared to analyst estimates of $246.96 million. Research analysts anticipate that MediaAlpha, Inc. will post 0.42 EPS for the current fiscal year.

Insider Activity at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total value of $1,488,240.00. Following the completion of the transaction, the insider now directly owns 1,550,990 shares in the company, valued at $32,058,963.30. This represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. The Goldman Sachs Group increased their price objective on MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada dropped their price target on shares of MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, MediaAlpha currently has a consensus rating of “Moderate Buy” and an average price target of $24.14.

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.