MediaAlpha, Inc. (NYSE:MAX) Shares Purchased by Los Angeles Capital Management LLC (2024)

Posted by MarketBeat News on Jun 26th, 2024

Los Angeles Capital Management LLC boosted its stake in MediaAlpha, Inc. (NYSE:MAX – Free Report) by 125.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,535 shares of the company’s stock after buying an additional 13,670 shares during the period. Los Angeles Capital Management LLC’s holdings in MediaAlpha were worth $500,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new position in shares of MediaAlpha during the fourth quarter valued at $1,364,000. Mariner LLC increased its holdings in shares of MediaAlpha by 449.2% during the third quarter. Mariner LLC now owns 76,060 shares of the company’s stock valued at $628,000 after purchasing an additional 62,210 shares during the period. Portside Wealth Group LLC increased its holdings in shares of MediaAlpha by 9.1% during the fourth quarter. Portside Wealth Group LLC now owns 18,755 shares of the company’s stock valued at $209,000 after purchasing an additional 1,567 shares during the period. Baker Tilly Wealth Management LLC increased its holdings in shares of MediaAlpha by 13.7% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock valued at $154,000 after purchasing an additional 1,660 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of MediaAlpha during the third quarter valued at $172,000. 64.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $19.00, for a total transaction of $49,206,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $19.00, for a total transaction of $95,003,800.00. Following the completion of the sale, the insider now directly owns 17,856,614 shares of the company’s stock, valued at approximately $339,275,666. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $19.00, for a total value of $49,206,200.00. The disclosure for this sale can be found here. Corporate insiders own 11.53% of the company’s stock.

MediaAlpha Stock Down 6.8 %

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Shares of MAX stock opened at $14.29 on Wednesday. The stock has a 50-day simple moving average of $18.49 and a 200 day simple moving average of $16.58. MediaAlpha, Inc. has a fifty-two week low of $7.62 and a fifty-two week high of $25.78. The stock has a market capitalization of $940.85 million, a P/E ratio of -21.01 and a beta of 1.27.

MediaAlpha (NYSE:MAX – Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. The company had revenue of $126.60 million during the quarter, compared to analyst estimates of $111.17 million. During the same quarter last year, the business earned ($0.23) EPS. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, sell-side analysts anticipate that MediaAlpha, Inc. will post -0.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

MAX has been the topic of a number of research analyst reports. Royal Bank of Canada raised their price target on MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. Canaccord Genuity Group raised their price target on MediaAlpha from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. raised their target price on MediaAlpha from $18.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $25.00 target price (up previously from $19.00) on shares of MediaAlpha in a research note on Wednesday, May 15th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.71.

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About MediaAlpha

(Free Report)

MediaAlpha, Inc, through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.