Los Angeles Capital Management LLC Increases Position in MediaAlpha, Inc. (NYSE:MAX)

Los Angeles Capital Management LLC lifted its holdings in MediaAlpha, Inc. (NYSE:MAX) by 128.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 126,045 shares of the company’s stock after buying an additional 70,862 shares during the period. Los Angeles Capital Management LLC owned approximately 0.19% of MediaAlpha worth $1,423,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Bank of New York Mellon Corp lifted its stake in MediaAlpha by 17.4% in the fourth quarter. Bank of New York Mellon Corp now owns 89,949 shares of the company’s stock valued at $1,016,000 after purchasing an additional 13,356 shares during the last quarter. Ieq Capital LLC purchased a new position in MediaAlpha in the fourth quarter valued at approximately $169,000. TimesSquare Capital Management LLC lifted its stake in MediaAlpha by 77.7% in the fourth quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company’s stock valued at $18,389,000 after purchasing an additional 712,410 shares during the last quarter. Rhumbline Advisers lifted its stake in 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 purchasing an additional 1,782 shares during the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new position in MediaAlpha in the fourth quarter valued at approximately $311,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on MAX. JPMorgan Chase & Co. dropped their target price on MediaAlpha from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and set a $20.00 target price on shares of MediaAlpha in a research report on Tuesday. Canaccord Genuity Group dropped their target price on MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Keefe, Bruyette & Woods dropped their target price on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, The Goldman Sachs Group dropped their target price on MediaAlpha from $23.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.50.

MediaAlpha Stock Performance

MediaAlpha stock opened at $9.31 on Friday. The stock has a market cap of $620.31 million, a P/E ratio of 54.74 and a beta of 1.12. MediaAlpha, Inc. has a fifty-two week low of $8.65 and a fifty-two week high of $25.78. The firm’s fifty day moving average price is $11.37 and its 200-day moving average price is $14.20.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Monday, February 24th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.16). The firm had revenue of $300.65 million during the quarter, compared to the consensus estimate of $289.38 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. Sell-side analysts predict that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

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.