Arrowstreet Capital Limited Partnership Trims Holdings in MediaAlpha, Inc. (NYSE:MAX)

Arrowstreet Capital Limited Partnership cut its stake in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 12.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 762,575 shares of the company's stock after selling 107,211 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.14% of MediaAlpha worth $8,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in MAX. Charles Schwab Investment Management Inc. boosted its position in MediaAlpha by 35.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 273,944 shares of the company's stock valued at $4,961,000 after buying an additional 71,676 shares during the period. The Manufacturers Life Insurance Company lifted 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 valued at $206,000 after acquiring an additional 1,213 shares during the last quarter. MetLife Investment Management LLC boosted its holdings 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in MediaAlpha by 8.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,428 shares of the company's stock worth $1,330,000 after acquiring an additional 5,708 shares during the last quarter. Finally, Centiva Capital LP purchased a new position in MediaAlpha in the 3rd quarter worth approximately $535,000. Institutional investors own 64.39% of the company's stock.

MediaAlpha Stock Down 1.8 %

Shares of NYSE:MAX traded down $0.14 on Friday, hitting $7.49. The company had a trading volume of 438,876 shares, compared to its average volume of 650,172. The firm's 50-day simple moving average is $9.89 and its two-hundred day simple moving average is $12.32. The firm has a market capitalization of $501.99 million, a price-to-earnings ratio of 44.05 and a beta of 1.11. MediaAlpha, Inc. has a 1 year low of $7.34 and a 1 year high of $25.78.

MediaAlpha (NYSE:MAX - Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $289.38 million. Equities research analysts anticipate that MediaAlpha, Inc. will post 0.48 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MAX shares. BMO Capital Markets dropped their price objective on MediaAlpha from $27.00 to $23.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. Royal Bank of Canada reissued an "outperform" rating and set a $20.00 price target on shares of MediaAlpha in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods decreased their price objective on shares of MediaAlpha from $22.00 to $19.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 25th. The Goldman Sachs Group dropped their target price on shares of MediaAlpha from $23.00 to $14.00 and set a "buy" rating for the company in a report on Tuesday, February 25th. Finally, Canaccord Genuity Group cut their target price on 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 six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $18.29.

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.