Connor Clark & Lunn Investment Management Ltd. Purchases 26,771 Shares of MediaAlpha, Inc. (NYSE:MAX)

Connor Clark & Lunn Investment Management Ltd. raised its position in MediaAlpha, Inc. (NYSE:MAX) by 65.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,832 shares of the company’s stock after buying an additional 26,771 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in MediaAlpha were worth $766,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. TimesSquare Capital Management LLC raised its stake in shares of MediaAlpha by 77.7% in 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. Clearline Capital LP raised its stake in shares of MediaAlpha by 115.3% in the third quarter. Clearline Capital LP now owns 1,241,419 shares of the company’s stock valued at $22,482,000 after buying an additional 664,691 shares during the period. Geode Capital Management LLC raised its stake in shares of 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 buying an additional 154,637 shares during the period. State Street Corp raised its stake in shares of MediaAlpha by 7.0% in the third quarter. State Street Corp now owns 547,906 shares of the company’s stock valued at $9,923,000 after buying an additional 35,960 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of MediaAlpha by 18.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 324,497 shares of the company’s stock valued at $3,664,000 after purchasing an additional 50,553 shares in the last quarter. 64.39% of the stock is currently owned by institutional investors.

MediaAlpha Stock Down 0.8 %

Shares of NYSE MAX opened at $9.72 on Friday. The firm has a market capitalization of $651.20 million, a P/E ratio of 57.15 and a beta of 1.15. The stock’s 50-day simple moving average is $10.76 and its two-hundred day simple moving average is $13.36. MediaAlpha, Inc. has a twelve month low of $8.21 and a twelve month high of $25.78.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.16). The firm 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%. As a group, research analysts anticipate that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MAX shares. The Goldman Sachs Group reduced their price target on MediaAlpha from $23.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, February 25th. Keefe, Bruyette & Woods reduced their price target on MediaAlpha from $22.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, February 25th. Canaccord Genuity Group reduced their price target on MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, February 24th. JPMorgan Chase & Co. reduced their price target on MediaAlpha from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price target on shares of MediaAlpha in a research report 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’s stock. According to MarketBeat.com, MediaAlpha has an average rating of “Moderate Buy” and a consensus price target 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.