J. Goldman & Co LP Decreases Holdings in MediaAlpha, Inc. (NYSE:MAX)

J. Goldman & Co LP decreased its holdings in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 33.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 311,125 shares of the company's stock after selling 155,302 shares during the quarter. J. Goldman & Co LP owned about 0.47% of MediaAlpha worth $3,513,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Covestor Ltd increased its stake in MediaAlpha by 44.1% during the fourth quarter. Covestor Ltd now owns 2,766 shares of the company's stock worth $31,000 after acquiring an additional 847 shares during the last quarter. Quarry LP increased its stake in MediaAlpha by 107.1% during the fourth quarter. Quarry LP now owns 5,841 shares of the company's stock worth $66,000 after acquiring an additional 3,021 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of MediaAlpha in the fourth quarter valued at $67,000. Walleye Capital LLC acquired a new stake in shares of MediaAlpha in the fourth quarter valued at $132,000. Finally, Wells Fargo & Company MN grew its stake in shares of MediaAlpha by 42.0% in the fourth quarter. Wells Fargo & Company MN now owns 14,409 shares of the company's stock valued at $163,000 after buying an additional 4,264 shares in the last quarter. Institutional investors and hedge funds own 64.39% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MAX shares. BMO Capital Markets dropped their price objective 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 dropped their price objective on MediaAlpha from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Royal Bank of Canada dropped their price objective on MediaAlpha from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. JPMorgan Chase & Co. lifted their price objective on MediaAlpha from $10.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group dropped their price objective 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 equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.21.

MediaAlpha Trading Down 1.6%

NYSE:MAX traded down $0.17 during midday trading on Friday, reaching $10.40. The company had a trading volume of 433,919 shares, compared to its average volume of 639,750. The firm has a market capitalization of $696.78 million, a price-to-earnings ratio of 61.15 and a beta of 1.12. The stock's fifty day simple moving average is $8.98 and its 200-day simple moving average is $10.65. MediaAlpha, Inc. has a 12-month low of $7.33 and a 12-month high of $20.91.

MediaAlpha (NYSE:MAX - Get Free Report) last released its earnings results 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 company had revenue of $264.31 million during the quarter, compared to analysts' expectations of $236.07 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The company's revenue for the quarter was up 108.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) earnings per share. As a group, sell-side analysts expect that MediaAlpha, Inc. will post 0.48 EPS for the current 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.