Teacher Retirement System of Texas Sells 159,689 Shares of MediaAlpha, Inc. (NYSE:MAX)

Teacher Retirement System of Texas lessened its stake in MediaAlpha, Inc. (NYSE:MAX) by 81.0% in the fourth quarter, HoldingsChannel reports. The fund owned 37,539 shares of the company’s stock after selling 159,689 shares during the period. Teacher Retirement System of Texas’ holdings in MediaAlpha were worth $424,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MAX. Quarry LP boosted its stake in shares of MediaAlpha by 157.8% during the third quarter. Quarry LP now owns 2,820 shares of the company’s stock valued at $51,000 after purchasing an additional 1,726 shares during the period. The Manufacturers Life Insurance Company boosted its position in MediaAlpha by 11.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock valued at $206,000 after buying an additional 1,213 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in MediaAlpha in the 3rd quarter worth $262,000. Ieq Capital LLC purchased a new position in shares of MediaAlpha in the fourth quarter valued at about $169,000. Finally, MetLife Investment Management LLC increased its position in shares of MediaAlpha by 28.8% in the third quarter. MetLife Investment Management LLC now owns 17,446 shares of the company’s stock valued at $316,000 after acquiring an additional 3,906 shares during the period. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on MAX. 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 note on Monday, February 24th. The Goldman Sachs Group cut their price objective on MediaAlpha from $23.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, February 25th. JPMorgan Chase & Co. decreased their target price on MediaAlpha from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price target on shares of MediaAlpha in a report on Tuesday, February 25th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of MediaAlpha from $22.00 to $19.00 and set an “outperform” rating for the company in a report on Tuesday, February 25th. One 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 company has an average rating of “Moderate Buy” and an average price target of $17.50.

MediaAlpha Stock Down 1.1 %

MAX opened at $9.25 on Tuesday. The stock has a market cap of $620.03 million, a PE ratio of 54.41 and a beta of 1.15. The business has a 50 day moving average of $10.59 and a 200-day moving average of $12.99. MediaAlpha, Inc. has a 52 week low of $8.21 and a 52 week high of $25.78.

MediaAlpha (NYSE:MAX) last announced its 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 net margin of 1.41% and a negative return on equity of 11.98%. Equities analysts anticipate that MediaAlpha, Inc. will post 0.48 EPS for the current year.

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.