Globeflex Capital L P Purchases New Shares in MediaAlpha, Inc. $MAX

Globeflex Capital L P purchased a new stake in shares of MediaAlpha, Inc. (NYSE:MAX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 80,233 shares of the company’s stock, valued at approximately $1,039,000. Globeflex Capital L P owned approximately 0.12% of MediaAlpha at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC boosted its position in MediaAlpha by 680.9% in the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock valued at $16,268,000 after buying an additional 1,246,493 shares during the last quarter. JPMorgan Chase & Co. boosted its position in MediaAlpha by 95.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company’s stock valued at $12,045,000 after buying an additional 516,195 shares during the last quarter. Shay Capital LLC boosted its position in MediaAlpha by 17.9% in the 3rd quarter. Shay Capital LLC now owns 790,100 shares of the company’s stock valued at $8,991,000 after buying an additional 120,100 shares during the last quarter. Geode Capital Management LLC boosted its position in MediaAlpha by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 777,304 shares of the company’s stock valued at $10,068,000 after buying an additional 7,530 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position 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 buying an additional 658,625 shares during the last quarter. 64.39% of the stock is owned by institutional investors and hedge funds.

MediaAlpha Trading Up 4.2%

MAX stock opened at $8.64 on Friday. The business’s 50-day moving average price is $9.14 and its two-hundred day moving average price is $10.30. The firm has a market cap of $538.64 million, a PE ratio of 13.50 and a beta of 1.16. MediaAlpha, Inc. has a 1-year low of $7.09 and a 1-year high of $13.92.

MediaAlpha (NYSE:MAX) last posted 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). The business had revenue of $310.00 million for the quarter, compared to the consensus estimate of $298.91 million. MediaAlpha had a negative return on equity of 147.82% and a net margin of 3.37%.The business’s revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. On average, analysts forecast that MediaAlpha, Inc. will post 1.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on MAX shares. The Goldman Sachs Group decreased their price objective on MediaAlpha from $13.50 to $11.50 and set a “neutral” rating on the stock in a research report on Tuesday, February 24th. Keefe, Bruyette & Woods decreased their price objective on MediaAlpha from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Zacks Research lowered MediaAlpha from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Royal Bank Of Canada decreased their price objective on MediaAlpha from $18.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Finally, Weiss Ratings upgraded MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Four analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.90.

Insider Activity

In other MediaAlpha news, insider Steven Yi sold 33,663 shares of MediaAlpha stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $9.99, for a total transaction of $336,293.37. Following the transaction, the insider directly owned 2,924,994 shares in the company, valued at approximately $29,220,690.06. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 49,844 shares of MediaAlpha stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $10.04, for a total value of $500,433.76. Following the transaction, the director owned 1,329,099 shares in the company, valued at approximately $13,344,153.96. This represents a 3.61% decrease in their ownership of the stock. 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 quarter, insiders have sold 470,697 shares of company stock worth $4,621,654. Corporate insiders own 14.65% of the company’s stock.

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.