Clearline Capital LP Has $22.48 Million Stock Holdings in MediaAlpha, Inc. (NYSE:MAX)

Clearline Capital LP grew its position in shares of MediaAlpha, Inc. (NYSE:MAX) by 115.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,241,419 shares of the company’s stock after acquiring an additional 664,691 shares during the quarter. MediaAlpha accounts for 1.0% of Clearline Capital LP’s holdings, making the stock its 11th biggest position. Clearline Capital LP’s holdings in MediaAlpha were worth $22,482,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MAX. Vanguard Group Inc. boosted its holdings in MediaAlpha by 15.0% during the first quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock worth $43,168,000 after purchasing an additional 276,641 shares during the last quarter. Driehaus Capital Management LLC lifted its position in MediaAlpha by 208.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock worth $18,920,000 after buying an additional 970,840 shares in the last quarter. Divisadero Street Capital Management LP bought a new position in shares of MediaAlpha in the 2nd quarter valued at about $7,956,000. Emerald Advisers LLC grew its holdings in shares of MediaAlpha by 51,407.5% in the 2nd quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock valued at $7,882,000 after acquiring an additional 597,355 shares in the last quarter. Finally, Ghisallo Capital Management LLC increased its position in shares of MediaAlpha by 535.3% in the second quarter. Ghisallo Capital Management LLC now owns 487,500 shares of the company’s stock valued at $6,420,000 after acquiring an additional 410,764 shares during the last quarter. 64.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group increased their price target on MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, MediaAlpha currently has a consensus rating of “Moderate Buy” and an average price target of $25.14.

MediaAlpha Stock Performance

MediaAlpha stock opened at $12.63 on Monday. The stock has a 50-day simple moving average of $16.09 and a 200 day simple moving average of $16.16. The stock has a market capitalization of $841.97 million, a P/E ratio of 74.29 and a beta of 1.23. MediaAlpha, Inc. has a 52 week low of $9.76 and a 52 week high of $25.78.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The company had revenue of $259.13 million during the quarter, compared to the consensus estimate of $246.96 million. Research analysts forecast that MediaAlpha, Inc. will post 0.42 earnings per share for the current year.

Insider Buying and Selling at MediaAlpha

In other news, insider Eugene Nonko sold 72,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the completion of the sale, the insider now owns 1,550,990 shares in the company, valued at $32,058,963.30. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 11.53% of the company’s stock.

About MediaAlpha

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.