Norges Bank Purchases New Position in MediaAlpha, Inc. (NYSE:MAX)

Norges Bank purchased a new stake in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 281,900 shares of the company's stock, valued at approximately $3,183,000. Norges Bank owned approximately 0.42% of MediaAlpha as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. TimesSquare Capital Management LLC boosted its holdings in MediaAlpha by 77.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company's stock worth $18,389,000 after acquiring an additional 712,410 shares in the last quarter. Vanguard Group Inc. grew its position in MediaAlpha by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 3,623,344 shares of the company's stock valued at $40,908,000 after purchasing an additional 169,654 shares during the last quarter. Geode Capital Management LLC increased its stake 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 in the last quarter. Sei Investments Co. lifted its stake in shares of MediaAlpha by 180.5% in the fourth quarter. Sei Investments Co. now owns 115,181 shares of the company's stock worth $1,300,000 after buying an additional 74,113 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of MediaAlpha during the fourth quarter valued at approximately $826,000. Institutional investors own 64.39% of the company's stock.

MediaAlpha Stock Up 2.0 %

NYSE MAX traded up $0.15 on Wednesday, reaching $7.64. The company had a trading volume of 60,392 shares, compared to its average volume of 648,009. The stock has a market capitalization of $512.11 million, a PE ratio of 45.00 and a beta of 1.11. The firm's 50 day moving average price is $9.71 and its 200 day moving average price is $12.18. MediaAlpha, Inc. has a 12 month low of $7.33 and a 12 month high of $25.78.

MediaAlpha (NYSE:MAX - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.16). The company had revenue of $300.65 million during the quarter, compared to analysts' expectations of $289.38 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. On average, research analysts expect that MediaAlpha, Inc. will post 0.48 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the company. 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. Royal Bank of Canada reiterated an "outperform" rating and issued a $20.00 price objective on shares of MediaAlpha in a report on Tuesday, February 25th. The Goldman Sachs Group lowered their target price on shares of MediaAlpha from $14.00 to $12.50 and set a "buy" rating on the stock in a research note on Monday. JPMorgan Chase & Co. reduced their price target on shares of MediaAlpha from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Tuesday, February 25th. Finally, Keefe, Bruyette & Woods dropped their target price on shares of MediaAlpha from $22.00 to $19.00 and set an "outperform" rating on the stock in a report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $18.07.

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.