Cannell & Spears LLC Sells 20,125 Shares of MediaAlpha, Inc. (NYSE:MAX)

Cannell & Spears LLC reduced its position in shares of MediaAlpha, Inc. (NYSE:MAX) by 30.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 45,700 shares of the company’s stock after selling 20,125 shares during the quarter. Cannell & Spears LLC’s holdings in MediaAlpha were worth $516,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of MediaAlpha by 28.9% during the third quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock worth $12,509,000 after buying an additional 154,637 shares during the last quarter. Barclays PLC raised its position in shares of MediaAlpha by 423.2% during the 3rd quarter. Barclays PLC now owns 66,525 shares of the company’s stock valued at $1,204,000 after acquiring an additional 53,809 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of MediaAlpha by 655.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,071 shares of the company’s stock valued at $1,450,000 after acquiring an additional 69,477 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of MediaAlpha by 4.3% in the 4th quarter. Rhumbline Advisers now owns 43,431 shares of the company’s stock valued at $490,000 after purchasing an additional 1,782 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of MediaAlpha by 35.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 273,944 shares of the company’s stock worth $4,961,000 after purchasing an additional 71,676 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

MediaAlpha Stock Down 2.3 %

Shares of NYSE:MAX opened at $9.03 on Wednesday. The firm has a market cap of $605.15 million, a price-to-earnings ratio of 53.11 and a beta of 1.15. MediaAlpha, Inc. has a 12 month low of $8.21 and a 12 month high of $25.78. The company’s fifty day simple moving average is $10.54 and its 200 day simple moving average is $12.93.

MediaAlpha (NYSE:MAX) last released its quarterly 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). The firm had revenue of $300.65 million during the quarter, compared to analyst estimates of $289.38 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. Research analysts expect that MediaAlpha, Inc. will post 0.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Keefe, Bruyette & Woods cut their target price on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 25th. Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price objective on shares of MediaAlpha in a research note on Tuesday, February 25th. The Goldman Sachs Group lowered their target price on shares of MediaAlpha from $23.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. Canaccord Genuity Group reduced their price target on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. dropped their price objective on MediaAlpha from $15.00 to $13.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 25th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.50.

About MediaAlpha

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.