Charles Schwab Investment Management Inc. Purchases 50,553 Shares of MediaAlpha, Inc. (NYSE:MAX)

Charles Schwab Investment Management Inc. increased its position in shares of MediaAlpha, Inc. (NYSE:MAX) by 18.5% in the fourth quarter, HoldingsChannel reports. The firm owned 324,497 shares of the company’s stock after purchasing an additional 50,553 shares during the period. Charles Schwab Investment Management Inc.’s holdings in MediaAlpha were worth $3,664,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MAX. The Manufacturers Life Insurance Company grew its stake in MediaAlpha by 11.9% during the third quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock worth $206,000 after buying an additional 1,213 shares during the last quarter. Quarry LP boosted its holdings in shares of MediaAlpha by 157.8% in the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after acquiring an additional 1,726 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of MediaAlpha by 4.3% in the 4th quarter. Rhumbline Advisers now owns 43,431 shares of the company’s stock worth $490,000 after acquiring an additional 1,782 shares in the last quarter. MetLife Investment Management LLC grew its position in MediaAlpha by 28.8% during the 3rd quarter. MetLife Investment Management LLC now owns 17,446 shares of the company’s stock worth $316,000 after acquiring an additional 3,906 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in MediaAlpha by 8.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,428 shares of the company’s stock valued at $1,330,000 after purchasing an additional 5,708 shares in the last quarter. 64.39% of the stock is owned by institutional investors.

MediaAlpha Stock Up 0.0 %

MediaAlpha stock opened at $10.05 on Thursday. The business’s 50-day simple moving average is $10.68 and its 200 day simple moving average is $13.18. The stock has a market cap of $673.92 million, a price-to-earnings ratio of 59.14 and a beta of 1.15. MediaAlpha, Inc. has a 12-month low of $8.21 and a 12-month high of $25.78.

MediaAlpha (NYSE:MAX) last issued its earnings results on Monday, February 24th. The company reported $0.08 earnings per share (EPS) 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 the consensus estimate of $289.38 million. As a group, sell-side analysts expect that MediaAlpha, Inc. will post 0.48 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MAX shares. Royal Bank of Canada reissued an “outperform” rating and issued a $20.00 price objective on shares of MediaAlpha in a research note on Tuesday, February 25th. Keefe, Bruyette & Woods reduced their price target on shares of 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 decreased their price objective on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. dropped their target price on shares of MediaAlpha from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Finally, The Goldman Sachs Group decreased their price target on shares of MediaAlpha from $23.00 to $14.00 and set a “buy” rating on the stock in a research note on Tuesday, February 25th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $17.50.

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.