Triad Investment Management Acquires 58,427 Shares of MediaAlpha, Inc. $MAX

Triad Investment Management boosted its stake in shares of MediaAlpha, Inc. (NYSE:MAX) by 21.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 333,864 shares of the company’s stock after acquiring an additional 58,427 shares during the quarter. MediaAlpha comprises about 3.4% of Triad Investment Management’s investment portfolio, making the stock its 11th biggest position. Triad Investment Management owned 0.52% of MediaAlpha worth $3,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Millennium Management LLC lifted its position in MediaAlpha by 680.9% in the third 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 last quarter. JPMorgan Chase & Co. raised its stake in shares of MediaAlpha by 29.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company’s stock valued at $17,714,000 after acquiring an additional 309,455 shares during the period. Clearline Capital LP raised its stake in shares of MediaAlpha by 0.8% in the fourth quarter. Clearline Capital LP now owns 1,301,453 shares of the company’s stock valued at $16,854,000 after acquiring an additional 10,604 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of MediaAlpha by 10.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,045,400 shares of the company’s stock worth $13,538,000 after acquiring an additional 100,300 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of MediaAlpha by 4.3% in the 4th quarter. AQR Capital Management LLC now owns 804,095 shares of the company’s stock worth $10,413,000 after acquiring an additional 33,416 shares during the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. boosted their target price on MediaAlpha from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings upgraded MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 1st. Zacks Research lowered MediaAlpha from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. TD Cowen dropped 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. Finally, Texas Capital upgraded MediaAlpha to a “strong-buy” rating in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.64.

MediaAlpha Stock Down 0.7%

MAX opened at $14.17 on Wednesday. The stock’s fifty day moving average is $10.74 and its two-hundred day moving average is $10.10. The company has a market capitalization of $883.44 million, a P/E ratio of 22.14 and a beta of 1.08. MediaAlpha, Inc. has a 52 week low of $7.09 and a 52 week high of $14.70.

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

Insider Activity

In other MediaAlpha news, Director Eugene Nonko sold 3,282 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $13.78, for a total transaction of $45,225.96. Following the transaction, the director owned 907,100 shares of the company’s stock, valued at approximately $12,499,838. This trade represents a 0.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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, insider Steven Yi sold 26,467 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $14.07, for a total transaction of $372,390.69. Following the completion of the sale, the insider owned 2,715,969 shares of the company’s stock, valued at approximately $38,213,683.83. This represents a 0.97% 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. Insiders sold 565,015 shares of company stock valued at $6,394,745 over the last 90 days. 14.65% of the stock is currently owned by corporate insiders.

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.