MediaAlpha, Inc. (NYSE:MAX) Shares Purchased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD grew its stake in shares of MediaAlpha, Inc. (NYSE:MAX) by 14.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,236 shares of the company’s stock after acquiring an additional 2,492 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in MediaAlpha were worth $229,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Hillsdale Investment Management Inc. increased its holdings in shares of MediaAlpha by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 208,900 shares of the company’s stock valued at $2,358,000 after acquiring an additional 800 shares in the last quarter. Covestor Ltd increased its holdings in MediaAlpha by 44.1% in the 4th quarter. Covestor Ltd now owns 2,766 shares of the company’s stock worth $31,000 after buying an additional 847 shares during the period. Rhumbline Advisers increased its holdings in MediaAlpha by 4.3% in the 4th quarter. Rhumbline Advisers now owns 43,431 shares of the company’s stock worth $490,000 after buying an additional 1,782 shares during the period. MetLife Investment Management LLC increased its holdings in MediaAlpha by 22.7% in the 4th quarter. MetLife Investment Management LLC now owns 21,402 shares of the company’s stock worth $242,000 after buying an additional 3,956 shares during the period. Finally, Mariner LLC increased its holdings in MediaAlpha by 7.1% in the 4th quarter. Mariner LLC now owns 60,433 shares of the company’s stock worth $682,000 after buying an additional 3,989 shares during the period. Institutional investors and hedge funds own 64.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MAX. Royal Bank of Canada cut their price target on shares of MediaAlpha from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. JPMorgan Chase & Co. increased their price target on shares of MediaAlpha from $10.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, May 1st. Canaccord Genuity Group cut their price target on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, February 24th. BMO Capital Markets cut 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, April 3rd. Finally, Keefe, Bruyette & Woods cut their price target on shares of MediaAlpha from $19.00 to $16.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.21.

MediaAlpha Price Performance

Shares of NYSE MAX opened at $10.40 on Friday. The stock has a market capitalization of $696.78 million, a price-to-earnings ratio of 61.15 and a beta of 1.12. MediaAlpha, Inc. has a 12 month low of $7.33 and a 12 month high of $20.91. The firm’s 50 day simple moving average is $8.98 and its 200-day simple moving average is $10.72.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The company had revenue of $264.31 million during the quarter, compared to analyst estimates of $236.07 million. During the same period in the prior year, the business posted ($0.02) EPS. MediaAlpha’s revenue was up 108.7% compared to the same quarter last year. Analysts anticipate that MediaAlpha, Inc. will post 0.48 earnings per share for the current fiscal 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.