MediaAlpha, Inc. $MAX Stake Increased by Jacobs Asset Management LLC

Jacobs Asset Management LLC boosted its position in MediaAlpha, Inc. (NYSE:MAX) by 31.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 924,443 shares of the company’s stock after purchasing an additional 219,144 shares during the period. MediaAlpha makes up approximately 5.1% of Jacobs Asset Management LLC’s investment portfolio, making the stock its 5th biggest holding. Jacobs Asset Management LLC owned approximately 1.48% of MediaAlpha worth $8,597,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MAX. Caitong International Asset Management Co. Ltd raised its holdings in shares of MediaAlpha by 5,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock worth $28,000 after buying an additional 2,124 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in MediaAlpha by 9,917.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock valued at $36,000 after acquiring an additional 2,777 shares during the period. Quarry LP boosted its holdings in MediaAlpha by 43.3% during the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock valued at $47,000 after acquiring an additional 1,234 shares during the period. Strs Ohio bought a new position in MediaAlpha in the 4th quarter valued at $49,000. Finally, Tower Research Capital LLC TRC grew its position in MediaAlpha by 28.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock valued at $61,000 after acquiring an additional 1,213 shares during the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

MediaAlpha Trading Up 0.2%

Shares of MAX stock opened at $13.13 on Friday. MediaAlpha, Inc. has a twelve month low of $7.09 and a twelve month high of $14.70. The stock has a fifty day simple moving average of $11.04 and a two-hundred day simple moving average of $10.14. The stock has a market capitalization of $818.72 million, a price-to-earnings ratio of 20.52 and a beta of 1.08.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $310.00 million for the quarter, compared to analysts’ expectations of $298.91 million. MediaAlpha had a net margin of 3.37% and a negative return on equity of 147.82%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.04) EPS. Research analysts predict that MediaAlpha, Inc. will post 0.97 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on MAX shares. Zacks Research downgraded MediaAlpha from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Wall Street Zen raised shares of MediaAlpha from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. TD Cowen decreased their price objective on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, June 23rd. Weiss Ratings raised shares of MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 1st. Finally, Texas Capital raised shares of MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.64.

Insider Transactions at MediaAlpha

In other news, insider Steven Yi sold 96,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $12.90, for a total value of $1,238,400.00. Following the completion of the sale, the insider owned 2,759,690 shares of the company’s stock, valued at approximately $35,600,001. This represents a 3.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 27,972 shares of the stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $10.04, for a total transaction of $280,838.88. Following the transaction, the director owned 987,384 shares in the company, valued at approximately $9,913,335.36. This represents a 2.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold a total of 565,015 shares of company stock worth $6,394,745 in the last three months. Insiders own 14.65% of the company’s stock.

MediaAlpha Company 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.