Victory Capital Management Inc. Increases Holdings in MediaAlpha, Inc. (NYSE:MAX)

Victory Capital Management Inc. boosted its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 135.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,564 shares of the company’s stock after purchasing an additional 49,192 shares during the period. Victory Capital Management Inc. owned about 0.13% of MediaAlpha worth $966,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC increased its holdings in MediaAlpha by 28.9% during the 3rd quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock valued at $12,509,000 after purchasing an additional 154,637 shares during the period. Barclays PLC grew its holdings in shares of MediaAlpha by 423.2% during the 3rd quarter. Barclays PLC now owns 66,525 shares of the company’s stock worth $1,204,000 after acquiring an additional 53,809 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of MediaAlpha by 655.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,071 shares of the company’s stock worth $1,450,000 after acquiring an additional 69,477 shares during the period. PDT Partners LLC purchased a new position in shares of MediaAlpha during the 3rd quarter worth approximately $1,237,000. Finally, Rhumbline Advisers grew its holdings in shares of MediaAlpha by 4.3% during the 4th quarter. Rhumbline Advisers now owns 43,431 shares of the company’s stock worth $490,000 after acquiring an additional 1,782 shares during the period. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on MAX shares. The Goldman Sachs Group reduced their target price on MediaAlpha from $23.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $20.00 target price on shares of MediaAlpha in a report on Tuesday, February 25th. Canaccord Genuity Group reduced their target price on MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. dropped 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. Finally, Keefe, Bruyette & Woods dropped their price target on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, MediaAlpha currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.50.

MediaAlpha Stock Up 0.4 %

Shares of MAX opened at $9.81 on Friday. The business’s 50 day moving average price is $10.77 and its 200-day moving average price is $13.41. MediaAlpha, Inc. has a 52 week low of $8.21 and a 52 week high of $25.78. The stock has a market cap of $657.23 million, a P/E ratio of 57.68 and a beta of 1.15.

MediaAlpha (NYSE:MAX) last issued 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). The company had revenue of $300.65 million during 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%. On average, equities analysts anticipate that MediaAlpha, Inc. will post 0.48 EPS 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.