Vanguard Group Inc. Increases Position in MediaAlpha, Inc. (NYSE:MAX)

Vanguard Group Inc. lifted its stake in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,623,344 shares of the company's stock after purchasing an additional 169,654 shares during the period. Vanguard Group Inc. owned about 5.44% of MediaAlpha worth $40,908,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Hillsdale Investment Management Inc. lifted its stake in shares of MediaAlpha by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 208,900 shares of the company's stock worth $2,358,000 after buying an additional 800 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of MediaAlpha by 11.9% in the third 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 in the last quarter. Rhumbline Advisers increased 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in MediaAlpha by 8.4% during the third 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 buying an additional 5,708 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new stake in MediaAlpha in the 4th quarter valued at $67,000. Institutional investors and hedge funds own 64.39% of the company's stock.

Analyst Upgrades and Downgrades

MAX has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of MediaAlpha from $15.00 to $13.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 25th. The Goldman Sachs Group decreased their target price on shares of MediaAlpha from $14.00 to $12.50 and set a "buy" rating on the stock in a report on Monday. 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. Canaccord Genuity Group reduced their target price on MediaAlpha from $30.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. Finally, Keefe, Bruyette & Woods cut their price objective on MediaAlpha from $22.00 to $19.00 and set an "outperform" rating for the company in a research report on Tuesday, February 25th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $18.07.

MediaAlpha Stock Down 0.5 %

NYSE:MAX traded down $0.04 on Thursday, reaching $7.54. 39,373 shares of the company's stock were exchanged, compared to its average volume of 648,758. The business has a fifty day moving average of $9.61 and a 200-day moving average of $12.14. MediaAlpha, Inc. has a 52-week low of $7.16 and a 52-week high of $25.78. The firm has a market capitalization of $505.41 million, a price-to-earnings ratio of 44.47 and a beta of 1.11.

MediaAlpha (NYSE:MAX - Get Free Report) last released its earnings results on Monday, February 24th. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.16). The business had revenue of $300.65 million for the quarter, compared to analyst estimates of $289.38 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. As a group, equities 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.