Teacher Retirement System of Texas Sells 159,689 Shares of MediaAlpha, Inc. (NYSE:MAX)

Teacher Retirement System of Texas decreased its stake in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 81.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 37,539 shares of the company's stock after selling 159,689 shares during the period. Teacher Retirement System of Texas owned 0.06% of MediaAlpha worth $424,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in MAX. Quarry LP grew its position in shares of MediaAlpha by 157.8% during the 3rd quarter. Quarry LP now owns 2,820 shares of the company's stock valued at $51,000 after purchasing an additional 1,726 shares in the last quarter. Ieq Capital LLC bought a new position in MediaAlpha in the 4th quarter worth about $169,000. The Manufacturers Life Insurance Company raised its holdings 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 in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of MediaAlpha by 73.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 21,140 shares of the company's stock valued at $239,000 after acquiring an additional 8,938 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of MediaAlpha during the third quarter worth about $262,000. Institutional investors own 64.39% of the company's stock.

MediaAlpha Price Performance

MediaAlpha stock traded down $0.38 during trading hours on Friday, reaching $8.03. The company had a trading volume of 816,070 shares, compared to its average volume of 645,532. The firm has a market cap of $537.92 million, a price-to-earnings ratio of 47.21 and a beta of 1.11. MediaAlpha, Inc. has a 12-month low of $7.76 and a 12-month high of $25.78. The company has a 50-day moving average price of $10.40 and a 200 day moving average price of $12.77.

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

Analyst Ratings Changes

Several brokerages have issued reports on MAX. Keefe, Bruyette & Woods dropped their target price on shares of MediaAlpha from $22.00 to $19.00 and set an "outperform" rating for the company in a research report on Tuesday, February 25th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $20.00 price objective on shares of MediaAlpha in a report on Tuesday, February 25th. BMO Capital Markets reduced their target price on MediaAlpha from $27.00 to $23.00 and set an "outperform" rating on the stock in a research note on Thursday. Canaccord Genuity Group dropped their price target on MediaAlpha from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. reduced their price objective on MediaAlpha from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $18.29.

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.