Globeflex Capital L P Acquires Shares of 55,850 MediaAlpha, Inc. $MAX

Globeflex Capital L P acquired a new stake in MediaAlpha, Inc. (NYSE:MAX) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 55,850 shares of the company’s stock, valued at approximately $702,000.

A number of other hedge funds also recently modified their holdings of MAX. Millennium Management LLC boosted its holdings in shares of MediaAlpha by 680.9% during the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock worth $16,268,000 after buying an additional 1,246,493 shares during the period. Victory Capital Management Inc. raised its holdings in MediaAlpha by 1,261.9% in the 3rd quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock valued at $8,089,000 after acquiring an additional 658,625 shares during the period. Lazard Asset Management LLC bought a new position in MediaAlpha in the 2nd quarter valued at about $4,268,000. Lighthouse Investment Partners LLC lifted its position in MediaAlpha by 831.7% during the third quarter. Lighthouse Investment Partners LLC now owns 353,930 shares of the company’s stock worth $4,028,000 after acquiring an additional 315,943 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in MediaAlpha by 29.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company’s stock worth $17,714,000 after acquiring an additional 309,455 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. TD Cowen reduced their price objective on MediaAlpha from $13.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, June 23rd. Weiss Ratings upgraded MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 1st. The Goldman Sachs Group lifted their price target on MediaAlpha from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Zacks Research downgraded MediaAlpha from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Finally, Royal Bank Of Canada upped their price objective on MediaAlpha from $11.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $14.29.

Insider Activity

In related news, Director Eugene Nonko sold 3,282 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $13.20, for a total transaction of $43,322.40. Following the sale, the director owned 832,554 shares of the company’s stock, valued at $10,989,712.80. This represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Keith Cramer sold 13,000 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $12.76, for a total value of $165,880.00. Following the transaction, the executive owned 264,303 shares in the company, valued at approximately $3,372,506.28. This trade represents a 4.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 567,700 shares of company stock worth $7,167,531. Corporate insiders own 14.65% of the company’s stock.

MediaAlpha Stock Performance

NYSE:MAX opened at $12.78 on Tuesday. MediaAlpha, Inc. has a 52 week low of $7.09 and a 52 week high of $14.70. The firm’s 50-day simple moving average is $12.80 and its 200 day simple moving average is $10.42. The firm has a market cap of $782.96 million, a price-to-earnings ratio of 7.89 and a beta of 1.11.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.42. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. The firm had revenue of $316.88 million during the quarter, compared to the consensus estimate of $300.87 million. Sell-side analysts anticipate that MediaAlpha, Inc. will post 0.97 EPS for the current year.

MediaAlpha Profile

MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company’s platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.

The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.