Globeflex Capital L P Purchases Shares of 80,233 MediaAlpha, Inc. $MAX

Globeflex Capital L P purchased a new stake in MediaAlpha, Inc. (NYSE:MAX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 80,233 shares of the company’s stock, valued at approximately $1,039,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Hsbc Holdings PLC raised its stake in shares of MediaAlpha by 2.3% in the 2nd quarter. Hsbc Holdings PLC now owns 51,550 shares of the company’s stock valued at $561,000 after purchasing an additional 1,144 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of 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 purchasing an additional 1,213 shares during the period. Quarry LP raised its stake in shares of MediaAlpha by 43.3% in the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock valued at $47,000 after purchasing an additional 1,234 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of MediaAlpha by 13.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,757 shares of the company’s stock valued at $140,000 after purchasing an additional 1,510 shares during the period. Finally, Blair William & Co. IL raised its stake in shares of MediaAlpha by 3.4% in the 3rd quarter. Blair William & Co. IL now owns 66,197 shares of the company’s stock valued at $753,000 after purchasing an additional 2,190 shares during the period. Institutional investors and hedge funds own 64.39% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Kuanling Amy Yeh sold 12,000 shares of MediaAlpha stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $8.05, for a total value of $96,600.00. Following the sale, the chief technology officer owned 572,985 shares of the company’s stock, valued at approximately $4,612,529.25. The trade was a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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, insider Steven Yi sold 4,000 shares of MediaAlpha stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $9.14, for a total value of $36,560.00. Following the transaction, the insider owned 2,879,690 shares of the company’s stock, valued at $26,320,366.60. The trade was a 0.14% decrease in their position. 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 470,697 shares of company stock valued at $4,621,654 in the last quarter. 14.65% of the stock is currently owned by corporate insiders.

MediaAlpha Stock Performance

NYSE:MAX opened at $8.64 on Friday. The stock’s 50-day simple moving average is $9.14 and its 200 day simple moving average is $10.30. The company has a market cap of $538.64 million, a P/E ratio of 13.50 and a beta of 1.16. MediaAlpha, Inc. has a 52-week low of $7.09 and a 52-week high of $13.92.

MediaAlpha (NYSE:MAX) last released its earnings results 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 company had revenue of $310.00 million during 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%. MediaAlpha’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) EPS. As a group, equities analysts predict that MediaAlpha, Inc. will post 1.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MAX. The Goldman Sachs Group dropped their price target on MediaAlpha from $13.50 to $11.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Keefe, Bruyette & Woods dropped their price target on MediaAlpha from $16.00 to $15.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. JPMorgan Chase & Co. lifted their price target on MediaAlpha from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Wall Street Zen downgraded MediaAlpha from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Finally, Weiss Ratings raised MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 29th. Four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, MediaAlpha presently has a consensus rating of “Hold” and a consensus price target of $12.90.

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.