Mariner LLC Raises Position in MediaAlpha, Inc. (NYSE:MAX)

Mariner LLC increased its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 7.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 60,433 shares of the company’s stock after purchasing an additional 3,989 shares during the period. Mariner LLC’s holdings in MediaAlpha were worth $682,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Covestor Ltd grew its stake in shares of 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. KLP Kapitalforvaltning AS acquired a new position in MediaAlpha during the 4th quarter valued at approximately $67,000. Wells Fargo & Company MN raised its holdings 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 worth $163,000 after buying an additional 4,264 shares during the last quarter. Ieq Capital LLC acquired a new stake in shares of MediaAlpha during the fourth quarter worth $169,000. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of MediaAlpha by 73.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 21,140 shares of the company’s stock valued at $239,000 after buying an additional 8,938 shares during the last quarter. 64.39% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on MAX. Keefe, Bruyette & Woods lowered their price target on MediaAlpha from $19.00 to $16.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. BMO Capital Markets cut their price target on shares of MediaAlpha from $27.00 to $23.00 and set an “outperform” rating on the stock in a report on Thursday, April 3rd. Canaccord Genuity Group decreased their price objective on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. cut their price objective on shares of MediaAlpha from $13.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group decreased their target price on shares of MediaAlpha from $14.00 to $12.50 and set a “buy” rating for the company in a research report on Monday, April 14th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.21.

MediaAlpha Stock Performance

MAX opened at $8.73 on Wednesday. The company has a fifty day moving average of $8.81 and a two-hundred day moving average of $11.50. The stock has a market capitalization of $584.84 million, a price-to-earnings ratio of 51.32 and a beta of 1.11. MediaAlpha, Inc. has a fifty-two week low of $7.33 and a fifty-two week high of $25.78.

MediaAlpha (NYSE:MAX) last announced 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). MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The business had revenue of $300.65 million during the quarter, compared to analysts’ expectations of $289.38 million. On average, equities research analysts forecast 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.