Mackenzie Financial Corp Has $98,000 Holdings in MediaAlpha, Inc. (NYSE:MAX)

Key Points

• Mackenzie Financial Corp significantly reduced its stake in MediaAlpha by 82.5% during the first quarter, now holding only 10,567 shares valued at $98,000.
• Several institutional investors have recently increased their holdings in MediaAlpha, with notable increases from Covestor Ltd and GAMMA Investing LLC, reflecting growing interest despite Mackenzie’s reduction.
• MediaAlpha reported an earnings per share of $0.17, surpassing analyst expectations, and a 41.1% increase in revenue compared to the same quarter last year.

Mackenzie Financial Corp cut its stake in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 82.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,567 shares of the company's stock after selling 49,692 shares during the period. Mackenzie Financial Corp's holdings in MediaAlpha were worth $98,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Covestor Ltd increased its holdings in shares of MediaAlpha by 44.1% during the fourth quarter. Covestor Ltd now owns 2,766 shares of the company's stock worth $31,000 after buying an additional 847 shares in the last quarter. Earnest Partners LLC increased its holdings in shares of MediaAlpha by 0.4% during the fourth quarter. Earnest Partners LLC now owns 241,559 shares of the company's stock worth $2,727,000 after buying an additional 1,021 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of MediaAlpha by 14.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,236 shares of the company's stock worth $229,000 after buying an additional 2,492 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of MediaAlpha by 8,775.8% during the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock worth $27,000 after buying an additional 2,896 shares in the last quarter. Finally, Corton Capital Inc. increased its holdings in shares of MediaAlpha by 8.5% during the fourth quarter. Corton Capital Inc. now owns 38,487 shares of the company's stock worth $435,000 after buying an additional 3,012 shares in the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

MediaAlpha Trading Down 3.9%

Shares of MediaAlpha stock opened at $10.95 on Friday. The business has a 50-day moving average price of $10.59 and a two-hundred day moving average price of $10.10. 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 $733.98 million, a P/E ratio of -91.24 and a beta of 1.19.

MediaAlpha (NYSE:MAX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. MediaAlpha had a negative return on equity of 62.53% and a negative net margin of 0.61%. The firm had revenue of $251.62 million during the quarter, compared to the consensus estimate of $248.80 million. During the same period last year, the business posted $0.07 EPS. The business's revenue was up 41.1% compared to the same quarter last year. Equities research analysts forecast that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on MAX. JPMorgan Chase & Co. increased their price objective on MediaAlpha from $10.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. The Goldman Sachs Group decreased their price objective on MediaAlpha from $14.00 to $12.50 and set a "buy" rating for the company in a report on Monday, April 14th. Wall Street Zen downgraded MediaAlpha from a "buy" rating to a "hold" rating in a report on Saturday. Royal Bank Of Canada decreased their price objective on MediaAlpha from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, Keefe, Bruyette & Woods decreased their price objective on 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 stock. Based on data from MarketBeat, MediaAlpha currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.92.

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.

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