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

Teacher Retirement System of Texas lessened its holdings in MediaAlpha, Inc. (NYSE:MAX - Free Report) by 81.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,539 shares of the company's stock after selling 159,689 shares during the quarter. Teacher Retirement System of Texas owned 0.06% of MediaAlpha worth $424,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Quarry LP boosted its holdings in shares of MediaAlpha by 157.8% in the 3rd quarter. Quarry LP now owns 2,820 shares of the company's stock valued at $51,000 after buying an additional 1,726 shares during the last quarter. 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 purchasing an additional 1,213 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in MediaAlpha in the 3rd quarter valued at about $262,000. Ieq Capital LLC acquired a new position in MediaAlpha during the fourth quarter worth approximately $169,000. Finally, MetLife Investment Management LLC raised its stake in MediaAlpha by 28.8% in the third quarter. MetLife Investment Management LLC now owns 17,446 shares of the company's stock valued at $316,000 after buying an additional 3,906 shares during the period. Institutional investors and hedge funds own 64.39% of the company's stock.

Analyst Ratings Changes

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

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MediaAlpha Price Performance

Shares of MAX stock traded down $0.50 on Friday, reaching $7.91. 350,786 shares of the company were exchanged, compared to its average volume of 641,230. The company has a market cap of $529.87 million, a price-to-earnings ratio of 46.61 and a beta of 1.11. The company has a 50-day moving average of $10.46 and a 200-day moving average of $12.87. MediaAlpha, Inc. has a one year low of $7.84 and a one year high of $25.78.

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 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 during the quarter, compared to analysts' expectations of $289.38 million. As a group, sell-side analysts predict that MediaAlpha, Inc. will post 0.48 EPS for the current year.

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.