Jacobs Asset Management LLC Has $9.13 Million Position in MediaAlpha, Inc. $MAX

Jacobs Asset Management LLC trimmed its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 13.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 705,299 shares of the company’s stock after selling 113,727 shares during the quarter. MediaAlpha accounts for 5.1% of Jacobs Asset Management LLC’s portfolio, making the stock its 7th biggest position. Jacobs Asset Management LLC’s holdings in MediaAlpha were worth $9,134,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its stake in shares of MediaAlpha by 95.2% during the third quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company’s stock worth $12,045,000 after buying an additional 516,195 shares during the last quarter. Triad Investment Management bought a new stake in shares of MediaAlpha during the fourth quarter worth approximately $3,567,000. Globeflex Capital L P bought a new stake in shares of MediaAlpha during the fourth quarter worth approximately $1,039,000. The Manufacturers Life Insurance Company raised its stake in shares of MediaAlpha by 13.4% during the second quarter. The Manufacturers Life Insurance Company now owns 12,757 shares of the company’s stock worth $140,000 after buying an additional 1,510 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its stake in shares of MediaAlpha by 12.1% during the second quarter. Qube Research & Technologies Ltd now owns 526,349 shares of the company’s stock worth $5,764,000 after buying an additional 56,724 shares during the last quarter. 64.39% of the stock is owned by institutional investors.

MediaAlpha Stock Performance

Shares of NYSE MAX opened at $9.47 on Friday. The stock has a market cap of $590.33 million, a P/E ratio of 14.79 and a beta of 1.16. The firm has a 50 day moving average price of $9.14 and a 200 day moving average price of $10.21. MediaAlpha, Inc. has a 52-week low of $7.09 and a 52-week high of $13.92.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The firm had revenue of $310.00 million for the quarter, compared to analyst estimates of $298.91 million. MediaAlpha had a net margin of 3.37% and a negative return on equity of 147.82%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.04) EPS. Analysts predict that MediaAlpha, Inc. will post 1.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Steven Yi sold 33,663 shares of the stock in a transaction on Monday, April 27th. The shares were sold at an average price of $9.99, for a total transaction of $336,293.37. Following the completion of the sale, the insider owned 2,924,994 shares of the company’s stock, valued at $29,220,690.06. This represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, Director Eugene Nonko sold 49,844 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $10.04, for a total transaction of $500,433.76. Following the sale, the director directly owned 1,329,099 shares of the company’s stock, valued at $13,344,153.96. This represents a 3.61% 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. In the last 90 days, insiders have sold 483,142 shares of company stock valued at $4,744,565. Corporate insiders own 14.65% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada dropped their price target on shares of MediaAlpha from $18.00 to $11.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Texas Capital raised shares of MediaAlpha to a “strong-buy” rating in a research note on Tuesday, June 9th. Capital One Financial set a $11.00 price target on shares of MediaAlpha in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of MediaAlpha from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, The Goldman Sachs Group decreased their price objective on shares of MediaAlpha from $13.50 to $11.50 and set a “neutral” rating for the company in a report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MediaAlpha has an average rating of “Moderate Buy” and a consensus target price of $12.58.

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.