Alpha DNA Investment Management LLC Increases Stock Position in MediaAlpha, Inc. (NYSE:MAX)

Alpha DNA Investment Management LLC increased its stake in shares of MediaAlpha, Inc. (NYSE:MAX) by 69.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,543 shares of the company’s stock after purchasing an additional 16,999 shares during the period. Alpha DNA Investment Management LLC owned approximately 0.06% of MediaAlpha worth $469,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MAX. Vanguard Group Inc. increased its position in shares of MediaAlpha by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 3,623,344 shares of the company’s stock valued at $40,908,000 after purchasing an additional 169,654 shares during the last quarter. TimesSquare Capital Management LLC grew its position in MediaAlpha by 77.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company’s stock valued at $18,389,000 after buying an additional 712,410 shares during the period. Geode Capital Management LLC increased its holdings in MediaAlpha by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 698,703 shares of the company’s stock valued at $7,890,000 after buying an additional 8,129 shares during the last quarter. State Street Corp raised its position in MediaAlpha by 7.0% in the third quarter. State Street Corp now owns 547,906 shares of the company’s stock worth $9,923,000 after acquiring an additional 35,960 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of MediaAlpha by 87.7% during the 4th quarter. Renaissance Technologies LLC now owns 539,300 shares of the company’s stock worth $6,089,000 after acquiring an additional 252,000 shares during the last quarter. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Stock Performance

MAX stock opened at $7.78 on Friday. The company has a market capitalization of $521.16 million, a PE ratio of 45.74 and a beta of 1.11. The company’s fifty day moving average price is $9.41 and its 200-day moving average price is $12.00. MediaAlpha, Inc. has a one year low of $7.33 and a one year high of $25.78.

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

Wall Street Analyst Weigh In

Several research firms have recently commented on MAX. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of MediaAlpha in a research note on Tuesday, February 25th. The Goldman Sachs Group decreased their price objective on MediaAlpha from $14.00 to $12.50 and set a “buy” rating on the stock in a research note on Monday, April 14th. Keefe, Bruyette & Woods cut their price objective on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on shares of MediaAlpha from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. Finally, Canaccord Genuity Group reduced 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, MediaAlpha currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.07.

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.