Russell Investments Group Ltd. Raises Stock Holdings in MediaAlpha, Inc. (NYSE:MAX)

Russell Investments Group Ltd. raised its position in shares of MediaAlpha, Inc. (NYSE:MAX) by 418.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,625 shares of the company’s stock after buying an additional 40,051 shares during the period. Russell Investments Group Ltd. owned about 0.07% of MediaAlpha worth $557,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of MediaAlpha by 7.0% during the 3rd quarter. State Street Corp now owns 547,906 shares of the company’s stock valued at $9,923,000 after purchasing an additional 35,960 shares in the last quarter. Barclays PLC grew its stake in MediaAlpha by 423.2% in the third quarter. Barclays PLC now owns 66,525 shares of the company’s stock worth $1,204,000 after purchasing an additional 53,809 shares during the period. Geode Capital Management LLC grew its stake in MediaAlpha by 28.9% in the third quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock worth $12,509,000 after purchasing an additional 154,637 shares during the period. Franklin Resources Inc. raised its holdings in MediaAlpha by 100.1% in the third quarter. Franklin Resources Inc. now owns 128,604 shares of the company’s stock worth $2,432,000 after purchasing an additional 64,331 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in MediaAlpha by 655.8% during the third quarter. JPMorgan Chase & Co. now owns 80,071 shares of the company’s stock valued at $1,450,000 after buying an additional 69,477 shares during the period. Institutional investors own 64.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MAX. JPMorgan Chase & Co. cut their price target on shares of MediaAlpha from $13.00 to $10.00 and set an “overweight” rating on the stock in a report on Tuesday. Canaccord Genuity Group reduced their target price on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a report on Monday, February 24th. BMO Capital Markets lowered their price objective on MediaAlpha from $27.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, April 3rd. The Goldman Sachs Group cut their price objective on MediaAlpha from $14.00 to $12.50 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price target on shares of MediaAlpha in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.21.

MediaAlpha Trading Up 3.0 %

Shares of NYSE:MAX opened at $8.31 on Thursday. The company has a market cap of $557.02 million, a price-to-earnings ratio of 48.88 and a beta of 1.11. MediaAlpha, Inc. has a 12 month low of $7.33 and a 12 month high of $25.78. The company has a 50-day moving average price of $9.11 and a 200 day moving average price of $11.80.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Monday, February 24th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.16). The company had revenue of $300.65 million during the quarter, compared to the consensus estimate of $289.38 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. As a group, equities analysts forecast that MediaAlpha, Inc. will post 0.48 EPS for the current year.

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.