Connor Clark & Lunn Investment Management Ltd. Has $766,000 Stock Position in MediaAlpha, Inc. (NYSE:MAX)

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 65.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,832 shares of the company’s stock after purchasing an additional 26,771 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.10% of MediaAlpha worth $766,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in MediaAlpha by 28.9% in the third quarter. Geode Capital Management LLC now owns 690,574 shares of the company’s stock valued at $12,509,000 after acquiring an additional 154,637 shares during the period. Barclays PLC grew its stake in MediaAlpha by 423.2% in the third 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 period. JPMorgan Chase & Co. grew its stake in MediaAlpha by 655.8% in the third 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 period. PDT Partners LLC acquired a new stake in MediaAlpha in the third quarter valued at approximately $1,237,000. Finally, Rhumbline Advisers grew its stake in MediaAlpha by 4.3% in the fourth quarter. Rhumbline Advisers now owns 43,431 shares of the company’s stock valued at $490,000 after acquiring an additional 1,782 shares during the period. Institutional investors and hedge funds own 64.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research 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. The Goldman Sachs Group reduced their price objective on MediaAlpha from $23.00 to $14.00 and set a “buy” rating for the company in a research note on Tuesday, February 25th. 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 report on Tuesday, February 25th. JPMorgan Chase & Co. cut their target price on MediaAlpha from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 25th. Finally, Canaccord Genuity Group cut their target price on MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

MediaAlpha Trading Down 0.8 %

Shares of MediaAlpha stock opened at $9.72 on Friday. The business’s fifty day simple moving average is $10.76 and its 200 day simple moving average is $13.36. The firm has a market capitalization of $651.20 million, a P/E ratio of 57.15 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 quarterly earnings results on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.16). The business had revenue of $300.65 million for the quarter, compared to the consensus estimate of $289.38 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. 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.