Nuveen Asset Management LLC Sells 551,637 Shares of MediaAlpha, Inc. (NYSE:MAX)

Nuveen Asset Management LLC trimmed its position in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 48.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 587,627 shares of the company's stock after selling 551,637 shares during the period. Nuveen Asset Management LLC owned approximately 0.88% of MediaAlpha worth $6,634,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Covestor Ltd boosted its stake in MediaAlpha by 44.1% during the 4th quarter. Covestor Ltd now owns 2,766 shares of the company's stock valued at $31,000 after purchasing an additional 847 shares during the period. Quarry LP lifted its holdings in shares of MediaAlpha by 107.1% during the fourth quarter. Quarry LP now owns 5,841 shares of the company's stock worth $66,000 after buying an additional 3,021 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of MediaAlpha in the fourth quarter valued at approximately $67,000. Walleye Capital LLC acquired a new stake in shares of MediaAlpha in the fourth quarter worth $132,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of MediaAlpha by 173.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 14,462 shares of the company's stock worth $163,000 after acquiring an additional 9,169 shares during the last quarter. 64.39% of the stock is owned by institutional investors and hedge funds.

MediaAlpha Stock Up 1.7%

MAX traded up $0.18 during midday trading on Tuesday, reaching $10.53. 264,149 shares of the company's stock were exchanged, compared to its average volume of 622,437. The business has a 50-day simple moving average of $9.13 and a two-hundred day simple moving average of $10.41. The firm has a market capitalization of $705.76 million, a price-to-earnings ratio of 61.94 and a beta of 1.12. MediaAlpha, Inc. has a one year low of $7.33 and a one year high of $20.91.

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

Analysts Set New Price Targets

Several research firms have issued reports on MAX. Canaccord Genuity Group decreased their price target on shares of MediaAlpha from $30.00 to $26.00 and set a "buy" rating on the stock in a research report on Monday, February 24th. 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 research note on Thursday, April 3rd. The Goldman Sachs Group lowered 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. Royal Bank of Canada cut their price target 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 on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company 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.