Bank of New York Mellon Corp Purchases 13,356 Shares of MediaAlpha, Inc. (NYSE:MAX)

Bank of New York Mellon Corp grew its position in MediaAlpha, Inc. (NYSE:MAX) by 17.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,949 shares of the company’s stock after buying an additional 13,356 shares during the quarter. Bank of New York Mellon Corp’s holdings in MediaAlpha were worth $1,016,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC grew its holdings in MediaAlpha by 28.9% during the 3rd quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock worth $12,509,000 after acquiring an additional 154,637 shares in the last quarter. Barclays PLC boosted its stake in shares of MediaAlpha by 423.2% during the third quarter. Barclays PLC now owns 66,525 shares of the company’s stock valued at $1,204,000 after purchasing an additional 53,809 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in MediaAlpha by 655.8% during the third quarter. JPMorgan Chase & Co. now owns 80,071 shares of the company’s stock valued at $1,450,000 after buying an additional 69,477 shares during the period. PDT Partners LLC purchased a new position in MediaAlpha during the third quarter valued at approximately $1,237,000. Finally, Rhumbline Advisers raised its stake in MediaAlpha by 4.3% in the fourth quarter. Rhumbline Advisers now owns 43,431 shares of the company’s stock worth $490,000 after buying an additional 1,782 shares in the last quarter. Institutional investors own 64.39% of the company’s stock.

Wall Street Analysts Forecast Growth

MAX has been the topic of several recent research reports. 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, February 25th. Canaccord Genuity Group dropped their price objective on MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. The Goldman Sachs Group reduced their target price on shares of MediaAlpha from $23.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their price target on shares of MediaAlpha from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of MediaAlpha in a research report on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, MediaAlpha has a consensus rating of “Moderate Buy” and a consensus target price of $17.50.

MediaAlpha Stock Performance

MediaAlpha stock opened at $9.87 on Tuesday. The stock has a market cap of $661.45 million, a PE ratio of 58.05 and a beta of 1.15. The stock has a 50-day moving average of $10.73 and a two-hundred day moving average of $13.25. MediaAlpha, Inc. has a one year low of $8.21 and a one year high of $25.78.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.16). The company had revenue of $300.65 million during the quarter, compared to analysts’ expectations of $289.38 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. As a group, sell-side analysts predict that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal 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.