Two Sigma Investments LP Reduces Stake in MediaAlpha, Inc. (NYSE:MAX)

Two Sigma Investments LP cut its position in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 18.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 224,198 shares of the company's stock after selling 51,030 shares during the period. Two Sigma Investments LP owned 0.34% of MediaAlpha worth $2,531,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of MediaAlpha by 4.3% in the fourth quarter. Rhumbline Advisers now owns 43,431 shares of the company's stock valued at $490,000 after acquiring an additional 1,782 shares during the period. Vanguard Group Inc. increased its position in MediaAlpha by 4.9% during the 4th 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 period. Millennium Management LLC lifted its position in shares of MediaAlpha by 91.0% in the 4th quarter. Millennium Management LLC now owns 781,349 shares of the company's stock worth $8,821,000 after purchasing an additional 372,305 shares during the period. Blair William & Co. IL bought a new stake in shares of MediaAlpha in the 4th quarter valued at $599,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of MediaAlpha by 52.8% in the 4th quarter. JPMorgan Chase & Co. now owns 122,386 shares of the company's stock valued at $1,382,000 after purchasing an additional 42,315 shares during the last quarter. 64.39% of the stock is owned by institutional investors.

MediaAlpha Stock Performance

Shares of MediaAlpha stock traded down $0.04 on Wednesday, hitting $10.47. The company had a trading volume of 219,463 shares, compared to its average volume of 621,390. The stock has a 50 day moving average of $9.15 and a 200-day moving average of $10.41. MediaAlpha, Inc. has a 1 year low of $7.33 and a 1 year high of $20.91. The stock has a market capitalization of $701.80 million, a price-to-earnings ratio of 61.59 and a beta of 1.19.

MediaAlpha (NYSE:MAX - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $264.31 million during 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 firm's revenue for the quarter was up 108.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.02) EPS. Equities analysts anticipate that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on MAX. BMO Capital Markets decreased their target price on MediaAlpha from $27.00 to $23.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. Canaccord Genuity Group reduced their price target 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. Royal Bank of Canada decreased their price target 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. Keefe, Bruyette & Woods cut their price objective on shares of MediaAlpha from $19.00 to $16.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group reduced their target price on MediaAlpha from $14.00 to $12.50 and set a "buy" rating for the company in a research note on Monday, April 14th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company. 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.