MediaAlpha, Inc. (NYSE:MAX) Stake Boosted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 35.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 273,944 shares of the company’s stock after acquiring an additional 71,676 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.41% of MediaAlpha worth $4,961,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of MAX. Price T Rowe Associates Inc. MD boosted its position in MediaAlpha by 9.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock worth $292,000 after acquiring an additional 1,235 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in MediaAlpha by 5.1% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,890 shares of the company’s stock worth $315,000 after acquiring an additional 1,150 shares during the period. Bank of New York Mellon Corp boosted its position in MediaAlpha by 15.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 84,155 shares of the company’s stock worth $1,108,000 after acquiring an additional 11,503 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in MediaAlpha by 354.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock worth $114,000 after acquiring an additional 6,728 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in MediaAlpha during the 2nd quarter worth about $225,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

MediaAlpha Stock Performance

MAX opened at $10.74 on Friday. The business has a 50 day moving average price of $14.78 and a 200 day moving average price of $15.71. MediaAlpha, Inc. has a twelve month low of $10.21 and a twelve month high of $25.78. The firm has a market cap of $715.97 million, a P/E ratio of 63.18 and a beta of 1.10.

MediaAlpha (NYSE:MAX) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The firm had revenue of $259.13 million during the quarter, compared to analyst estimates of $246.96 million. As a group, analysts anticipate that MediaAlpha, Inc. will post 0.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MAX has been the subject of a number of research reports. The Goldman Sachs Group raised their price objective on MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada reduced their price target on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, December 4th. Finally, Keefe, Bruyette & Woods reduced their price target on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, MediaAlpha currently has a consensus rating of “Moderate Buy” and an average price target of $24.14.

Insiders Place Their Bets

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of MediaAlpha stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total value of $1,488,240.00. Following the transaction, the insider now directly owns 1,550,990 shares of the company’s stock, valued at $32,058,963.30. The trade was a 4.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 11.53% of the company’s stock.

MediaAlpha 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.