Mackenzie Financial Corp boosted its holdings in MediaAlpha, Inc. (NYSE:MAX - Free Report) by 354.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,259 shares of the company's stock after buying an additional 46,996 shares during the period. Mackenzie Financial Corp owned approximately 0.09% of MediaAlpha worth $680,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Rhumbline Advisers lifted its stake in shares of MediaAlpha by 4.3% in the fourth quarter. Rhumbline Advisers now owns 43,431 shares of the company's stock worth $490,000 after buying an additional 1,782 shares in the last quarter. Vanguard Group Inc. lifted its position in MediaAlpha by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 3,623,344 shares of the company's stock valued at $40,908,000 after purchasing an additional 169,654 shares during the last quarter. Virtus Investment Advisers Inc. bought a new position in MediaAlpha during the fourth quarter valued at $172,000. Millennium Management LLC lifted its position in MediaAlpha by 91.0% during the fourth quarter. Millennium Management LLC now owns 781,349 shares of the company's stock valued at $8,821,000 after purchasing an additional 372,305 shares during the last quarter. Finally, Blair William & Co. IL bought a new stake in MediaAlpha during the 4th quarter valued at about $599,000. 64.39% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on MAX. The Goldman Sachs Group reduced their price target 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. 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. JPMorgan Chase & Co. raised their price objective on shares of MediaAlpha from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Royal Bank of Canada lowered their target price on shares of MediaAlpha from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, BMO Capital Markets lowered their target price on shares of MediaAlpha from $27.00 to $23.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.21.
Read Our Latest Research Report on MediaAlpha
MediaAlpha Stock Performance
MAX stock traded down $0.01 during midday trading on Thursday, reaching $10.41. 19,161 shares of the company were exchanged, compared to its average volume of 619,013. MediaAlpha, Inc. has a 1-year low of $7.33 and a 1-year high of $20.91. The stock's 50-day simple moving average is $9.15 and its 200 day simple moving average is $10.41. The company has a market cap of $697.78 million, a price-to-earnings ratio of 61.38 and a beta of 1.19.
MediaAlpha (NYSE:MAX - Get Free Report) last released its quarterly earnings data 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 company had revenue of $264.31 million for the quarter, compared to analyst estimates of $236.07 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The firm's revenue for the quarter was up 108.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.02) EPS. On average, research analysts anticipate that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.
About MediaAlpha
(
Free Report)
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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