Wells Fargo & Company MN Increases Holdings in MediaAlpha, Inc. (NYSE:MAX)

Wells Fargo & Company MN lifted its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 42.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,409 shares of the company’s stock after acquiring an additional 4,264 shares during the period. Wells Fargo & Company MN’s holdings in MediaAlpha were worth $163,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MAX. KLP Kapitalforvaltning AS acquired a new stake in shares of MediaAlpha in the fourth quarter valued at approximately $67,000. Ieq Capital LLC acquired a new stake in MediaAlpha during the 4th quarter worth $169,000. Robeco Institutional Asset Management B.V. grew its position in MediaAlpha by 73.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 21,140 shares of the company’s stock worth $239,000 after purchasing an additional 8,938 shares during the last quarter. US Bancorp DE increased its stake in MediaAlpha by 35.6% in the fourth quarter. US Bancorp DE now owns 23,547 shares of the company’s stock valued at $266,000 after purchasing an additional 6,184 shares during the period. Finally, Integrated Quantitative Investments LLC purchased a new stake in shares of MediaAlpha in the fourth quarter valued at about $308,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on MAX shares. JPMorgan Chase & Co. upped 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. The Goldman Sachs Group lowered their price objective 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. Canaccord Genuity Group cut their price objective on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, February 24th. BMO Capital Markets lowered their target price 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. Finally, Royal Bank of Canada cut their price target on shares of MediaAlpha from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.21.

MediaAlpha Stock Up 0.6 %

Shares of MAX opened at $10.03 on Friday. The company has a market capitalization of $672.31 million, a PE ratio of 59.00 and a beta of 1.12. MediaAlpha, Inc. has a 52-week low of $7.33 and a 52-week high of $20.91. The company has a 50-day simple moving average of $8.81 and a 200-day simple moving average of $11.03.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The firm had revenue of $264.31 million for the quarter, compared to analysts’ expectations of $236.07 million. During the same period last year, the firm earned ($0.02) EPS. MediaAlpha’s revenue was up 108.7% compared to the same quarter last year. On average, research analysts anticipate that MediaAlpha, Inc. will post 0.48 EPS for the current year.

MediaAlpha Company 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.