MediaAlpha, Inc. (NYSE:MAX) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC decreased its position in MediaAlpha, Inc. (NYSE:MAX - Free Report) by 48.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,872 shares of the company's stock after selling 122,380 shares during the quarter. Cubist Systematic Strategies LLC owned 0.19% of MediaAlpha worth $1,466,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brevan Howard Capital Management LP acquired a new position in shares of MediaAlpha in the fourth quarter worth $180,000. BNP Paribas Financial Markets acquired a new position in shares of MediaAlpha in the 4th quarter valued at $323,000. Algert Global LLC increased its position in shares of MediaAlpha by 9.0% during the fourth quarter. Algert Global LLC now owns 136,509 shares of the company's stock worth $1,541,000 after purchasing an additional 11,238 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its stake in MediaAlpha by 61.5% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 27,300 shares of the company's stock valued at $308,000 after buying an additional 10,400 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in MediaAlpha by 570.7% during the 4th quarter. AQR Capital Management LLC now owns 472,215 shares of the company's stock worth $5,331,000 after purchasing an additional 401,807 shares during the period. Hedge funds and other institutional investors own 64.39% of the company's stock.

MediaAlpha Price Performance

Shares of NYSE MAX traded down $0.17 during trading on Friday, hitting $10.40. 433,919 shares of the company were exchanged, compared to its average volume of 640,171. MediaAlpha, Inc. has a 1 year low of $7.33 and a 1 year high of $20.91. The company has a market cap of $696.78 million, a price-to-earnings ratio of 61.15 and a beta of 1.12. The firm's fifty day moving average price is $8.95 and its 200 day moving average price is $10.78.

MediaAlpha (NYSE:MAX - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.02). MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The company had revenue of $264.31 million for the quarter, compared to analyst estimates of $236.07 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. The company's quarterly revenue was up 108.7% compared to the same quarter last year. On average, research analysts forecast that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MAX. JPMorgan Chase & Co. boosted their price target on MediaAlpha from $10.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. BMO Capital Markets lowered their price objective on shares of MediaAlpha from $27.00 to $23.00 and set an "outperform" rating on the stock in a research report on Thursday, April 3rd. Keefe, Bruyette & Woods cut their price objective on shares of MediaAlpha from $19.00 to $16.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group lowered 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, April 14th. Finally, Royal Bank of Canada cut their price target on shares of MediaAlpha from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. One investment 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 presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.21.

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.