Nuveen Asset Management LLC Trims Stake in MediaAlpha, Inc. (NYSE:MAX)

Nuveen Asset Management LLC trimmed its holdings in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 48.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 587,627 shares of the company's stock after selling 551,637 shares during the quarter. Nuveen Asset Management LLC owned 0.88% of MediaAlpha worth $6,634,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Covestor Ltd increased its stake in shares of MediaAlpha by 44.1% during the 4th quarter. Covestor Ltd now owns 2,766 shares of the company's stock worth $31,000 after purchasing an additional 847 shares during the last quarter. Quarry LP increased its stake in shares of MediaAlpha by 107.1% during the 4th quarter. Quarry LP now owns 5,841 shares of the company's stock worth $66,000 after purchasing an additional 3,021 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of MediaAlpha during the 4th quarter worth approximately $67,000. Walleye Capital LLC purchased a new stake in shares of MediaAlpha during the 4th quarter worth approximately $132,000. Finally, Wells Fargo & Company MN increased its stake in shares of MediaAlpha by 42.0% during the 4th quarter. Wells Fargo & Company MN now owns 14,409 shares of the company's stock worth $163,000 after purchasing an additional 4,264 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MAX shares. BMO Capital Markets dropped their price objective on MediaAlpha from $27.00 to $23.00 and set an "outperform" rating on the stock in a report on Thursday, April 3rd. Keefe, Bruyette & Woods lowered their target price on shares of MediaAlpha from $19.00 to $16.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. raised their price target on shares of MediaAlpha from $10.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Royal Bank of Canada dropped their price objective 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. Finally, Canaccord Genuity Group dropped their price objective on shares of MediaAlpha from $30.00 to $26.00 and set a "buy" rating for the company in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.21.

MediaAlpha Stock Performance

Shares of NYSE MAX traded down $0.30 during mid-day trading on Friday, hitting $10.21. The stock had a trading volume of 400,334 shares, compared to its average volume of 627,400. The firm has a market cap of $684.38 million, a P/E ratio of 60.06 and a beta of 1.12. The business has a 50 day moving average price of $9.11 and a two-hundred day moving average price of $10.44. MediaAlpha, Inc. has a 1 year low of $7.33 and a 1 year high of $20.91.

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

About MediaAlpha

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.