39,035 Shares in MediaAlpha, Inc. (NYSE:MAX) Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new stake in shares of MediaAlpha, Inc. (NYSE:MAX) during the 3rd quarter, HoldingsChannel reports. The firm bought 39,035 shares of the company’s stock, valued at approximately $707,000.

Other institutional investors and hedge funds have also modified their holdings of the company. XTX Topco Ltd bought a new stake in MediaAlpha in the 3rd quarter worth about $409,000. Zacks Investment Management purchased a new stake in shares of MediaAlpha during the 3rd quarter valued at about $376,000. State Street Corp grew its stake in shares of MediaAlpha by 7.0% in the third quarter. State Street Corp now owns 547,906 shares of the company’s stock worth $9,923,000 after acquiring an additional 35,960 shares during the period. Quarry LP raised its holdings in shares of MediaAlpha by 157.8% during the third quarter. Quarry LP now owns 2,820 shares of the company’s stock valued at $51,000 after purchasing an additional 1,726 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its position in MediaAlpha by 233.1% during the third quarter. Point72 Asset Management L.P. now owns 34,407 shares of the company’s stock valued at $623,000 after purchasing an additional 24,077 shares during the period. Institutional investors own 64.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MAX. The Goldman Sachs Group lifted their target price on shares of MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods cut their price objective on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Royal Bank of Canada lowered their target price on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, MediaAlpha has a consensus rating of “Moderate Buy” and an average target price of $24.14.

Insiders Place Their Bets

In other news, insider Eugene Nonko sold 72,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 1,550,990 shares in the company, valued at $32,058,963.30. This trade represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 11.53% of the stock is currently owned by corporate insiders.

MediaAlpha Trading Up 0.1 %

MediaAlpha stock opened at $10.74 on Friday. MediaAlpha, Inc. has a 12-month low of $10.21 and a 12-month high of $25.78. The firm has a market capitalization of $715.97 million, a price-to-earnings ratio of 63.18 and a beta of 1.10. The firm has a 50 day moving average of $14.78 and a 200 day moving average of $15.71.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $259.13 million for the quarter, compared to analysts’ expectations of $246.96 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. On average, analysts predict that MediaAlpha, Inc. will post 0.42 EPS for the current year.

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.