MediaAlpha, Inc. (NYSE:MAX) Position Boosted by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lifted its stake in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 2,683.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 476,342 shares of the company's stock after purchasing an additional 459,227 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.71% of MediaAlpha worth $5,378,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Graham Capital Management L.P. raised its position in MediaAlpha by 102.9% in the fourth quarter. Graham Capital Management L.P. now owns 64,251 shares of the company's stock worth $725,000 after acquiring an additional 32,584 shares in the last quarter. Corton Capital Inc. raised its position in MediaAlpha by 8.5% in the fourth quarter. Corton Capital Inc. now owns 38,487 shares of the company's stock worth $435,000 after acquiring an additional 3,012 shares in the last quarter. Brevan Howard Capital Management LP bought a new stake in MediaAlpha in the fourth quarter worth about $180,000. BNP Paribas Financial Markets bought a new stake in MediaAlpha in the fourth quarter worth about $323,000. Finally, Algert Global LLC raised its position in MediaAlpha by 9.0% in the fourth quarter. Algert Global LLC now owns 136,509 shares of the company's stock worth $1,541,000 after acquiring an additional 11,238 shares in the last quarter. 64.39% of the stock is currently owned by institutional investors.

MediaAlpha Stock Performance

MAX traded down $0.10 during trading on Tuesday, reaching $10.23. The company had a trading volume of 47,517 shares, compared to its average volume of 636,157. The firm's 50-day simple moving average is $9.00 and its 200 day simple moving average is $10.56. The company has a market cap of $685.72 million, a price-to-earnings ratio of 60.18 and a beta of 1.12. 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 issued its quarterly earnings results 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). MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The company had revenue of $264.31 million during the quarter, compared to analysts' expectations of $236.07 million. During the same period in the prior year, the business posted ($0.02) EPS. The company's revenue for the quarter was up 108.7% compared to the same quarter last year. On average, sell-side analysts expect that MediaAlpha, Inc. will post 0.48 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on MAX shares. The Goldman Sachs Group dropped their price target on shares of MediaAlpha from $14.00 to $12.50 and set a "buy" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. boosted their price target 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 dropped their price target on shares of MediaAlpha from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Canaccord Genuity Group dropped 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. Finally, Keefe, Bruyette & Woods dropped their price target on MediaAlpha from $19.00 to $16.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, MediaAlpha presently has an average rating of "Moderate Buy" and a consensus target price of $17.21.

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.