Renaissance Technologies LLC Has $6.09 Million Stock Position in MediaAlpha, Inc. (NYSE:MAX)

Renaissance Technologies LLC lifted its position in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 87.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 539,300 shares of the company's stock after buying an additional 252,000 shares during the period. Renaissance Technologies LLC owned approximately 0.81% of MediaAlpha worth $6,089,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MAX. Geode Capital Management LLC increased its holdings in shares of MediaAlpha by 28.9% in the 3rd quarter. Geode Capital Management LLC now owns 690,574 shares of the company's stock valued at $12,509,000 after acquiring an additional 154,637 shares during the last quarter. Barclays PLC lifted its position in shares of MediaAlpha by 423.2% during the 3rd quarter. Barclays PLC now owns 66,525 shares of the company's stock valued at $1,204,000 after acquiring an additional 53,809 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of MediaAlpha by 655.8% in the third quarter. JPMorgan Chase & Co. now owns 80,071 shares of the company's stock worth $1,450,000 after buying an additional 69,477 shares during the period. Rhumbline Advisers lifted its holdings 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 in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of MediaAlpha by 100.1% in the 3rd quarter. Franklin Resources Inc. now owns 128,604 shares of the company's stock valued at $2,432,000 after purchasing an additional 64,331 shares during the period. 64.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on MAX shares. Keefe, Bruyette & Woods lowered their target price on MediaAlpha from $19.00 to $16.00 and set an "outperform" rating on the stock in a research note on Tuesday. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $20.00 price target on shares of MediaAlpha in a report on Tuesday, February 25th. The Goldman Sachs Group dropped their price target on shares of MediaAlpha from $14.00 to $12.50 and set a "buy" rating for the company in a research report on Monday, April 14th. Canaccord Genuity Group lowered their target price on shares of MediaAlpha from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. dropped their target price on shares of MediaAlpha from $13.00 to $10.00 and set an "overweight" rating for the company in a research note on Tuesday. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.21.

MediaAlpha Price Performance

NYSE:MAX traded up $0.22 during trading hours on Wednesday, reaching $8.29. 193,791 shares of the stock were exchanged, compared to its average volume of 654,026. MediaAlpha, Inc. has a twelve month low of $7.33 and a twelve month high of $25.78. The stock has a market cap of $555.34 million, a PE ratio of 48.82 and a beta of 1.11. The firm has a 50 day moving average of $9.20 and a 200 day moving average of $11.82.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.16). MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The business had revenue of $300.65 million for the quarter, compared to analyst estimates of $289.38 million. Equities research analysts anticipate that MediaAlpha, Inc. will post 0.48 earnings per share 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.