Bank of America Corp DE Sells 177,467 Shares of MediaAlpha, Inc. (NYSE:MAX)

Bank of America Corp DE decreased its position in MediaAlpha, Inc. (NYSE:MAX - Free Report) by 77.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 51,589 shares of the company's stock after selling 177,467 shares during the period. Bank of America Corp DE owned approximately 0.08% of MediaAlpha worth $582,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Covestor Ltd boosted its holdings in shares of MediaAlpha by 44.1% in the fourth quarter. Covestor Ltd now owns 2,766 shares of the company's stock valued at $31,000 after acquiring an additional 847 shares in the last quarter. Quarry LP boosted its holdings in shares of MediaAlpha by 107.1% in the fourth quarter. Quarry LP now owns 5,841 shares of the company's stock valued at $66,000 after acquiring an additional 3,021 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of MediaAlpha in the fourth quarter valued at approximately $67,000. Walleye Capital LLC bought a new position in shares of MediaAlpha in the fourth quarter valued at approximately $132,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of MediaAlpha by 42.0% in the fourth quarter. Wells Fargo & Company MN now owns 14,409 shares of the company's stock valued at $163,000 after acquiring an additional 4,264 shares in the last quarter. Institutional investors own 64.39% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of MediaAlpha from $27.00 to $23.00 and set an "outperform" rating for the company in a report on Thursday, April 3rd. Royal Bank of Canada reduced their target price 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. JPMorgan Chase & Co. raised their target price on shares of MediaAlpha from $10.00 to $12.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. The Goldman Sachs Group reduced their target price on shares of MediaAlpha from $14.00 to $12.50 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of MediaAlpha from $19.00 to $16.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. One 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 has a consensus rating of "Moderate Buy" and a consensus target price of $17.21.

MediaAlpha Price Performance

MediaAlpha stock traded down $0.17 during midday trading on Friday, reaching $10.95. The stock had a trading volume of 545,432 shares, compared to its average volume of 617,669. The firm's fifty day simple moving average is $9.49 and its two-hundred day simple moving average is $10.33. MediaAlpha, Inc. has a twelve month low of $7.33 and a twelve month high of $20.91. The firm has a market cap of $733.98 million, a price-to-earnings ratio of 64.41 and a beta of 1.19.

MediaAlpha (NYSE:MAX - Get Free Report) last released its 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 negative return on equity of 11.98% and a net margin of 1.41%. The company had revenue of $264.31 million during the quarter, compared to analysts' expectations of $236.07 million. During the same quarter in the previous year, the company earned ($0.02) EPS. The firm's quarterly revenue was up 108.7% compared to the same quarter last year. As a group, sell-side analysts predict that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

MediaAlpha Company 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.