Teacher Retirement System of Texas Sells 17,592 Shares of MediaAlpha, Inc. (NYSE:MAX)

Teacher Retirement System of Texas lowered its stake in MediaAlpha, Inc. (NYSE:MAX) by 46.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,947 shares of the company’s stock after selling 17,592 shares during the period. Teacher Retirement System of Texas’ holdings in MediaAlpha were worth $184,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of MAX. GAMMA Investing LLC grew its position in MediaAlpha by 8,775.8% in the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company’s stock valued at $27,000 after acquiring an additional 2,896 shares during the last quarter. Covestor Ltd boosted its stake in shares of MediaAlpha by 44.1% during the fourth quarter. Covestor Ltd now owns 2,766 shares of the company’s stock valued at $31,000 after purchasing an additional 847 shares in the last quarter. Virtus Fund Advisers LLC acquired a new stake in shares of MediaAlpha during the fourth quarter valued at about $35,000. Quarry LP boosted its stake in shares of MediaAlpha by 107.1% during the fourth quarter. Quarry LP now owns 5,841 shares of the company’s stock valued at $66,000 after purchasing an additional 3,021 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of MediaAlpha during the fourth quarter valued at about $67,000. Institutional investors own 64.39% of the company’s stock.

Analysts Set New Price Targets

MAX has been the topic of a number of recent research reports. Royal Bank Of Canada cut their price target on MediaAlpha from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. The Goldman Sachs Group cut their price target on MediaAlpha from $14.00 to $12.50 and set a “buy” rating on the stock in a research note on Monday, April 14th. BMO Capital Markets cut their price target on MediaAlpha from $27.00 to $23.00 and set an “outperform” rating on the stock in a research note on Thursday, April 3rd. Keefe, Bruyette & Woods cut their price target on MediaAlpha from $19.00 to $16.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lifted their price target on MediaAlpha from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. Six analysts have rated the stock with a buy rating, According to MarketBeat, MediaAlpha presently has an average rating of “Buy” and an average target price of $17.92.

MediaAlpha Price Performance

MediaAlpha stock opened at $10.33 on Monday. The stock’s 50 day moving average is $10.55 and its 200 day moving average is $10.17. The firm has a market cap of $692.42 million, a P/E ratio of 36.89 and a beta of 1.20. MediaAlpha, Inc. has a one year low of $7.33 and a one year high of $20.91.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, April 30th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The business had revenue of $264.31 million during the quarter, compared to the consensus estimate of $236.07 million. MediaAlpha had a negative return on equity of 46.92% and a net margin of 1.58%. The company’s revenue for the quarter was up 108.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. Equities 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.