55,850 Shares in MediaAlpha, Inc. $MAX Purchased by Globeflex Capital L P

Globeflex Capital L P bought a new stake in MediaAlpha, Inc. (NYSE:MAX) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 55,850 shares of the company’s stock, valued at approximately $702,000. Globeflex Capital L P owned about 0.09% of MediaAlpha as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC grew its stake in shares of MediaAlpha by 680.9% during the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock worth $16,268,000 after acquiring an additional 1,246,493 shares in the last quarter. JPMorgan Chase & Co. lifted its position 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 worth $17,714,000 after purchasing an additional 309,455 shares in the last quarter. Clearline Capital LP boosted its holdings in MediaAlpha by 0.8% during the fourth quarter. Clearline Capital LP now owns 1,301,453 shares of the company’s stock worth $16,854,000 after purchasing an additional 10,604 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in MediaAlpha by 24.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company’s stock worth $9,876,000 after purchasing an additional 206,077 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in MediaAlpha by 10.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,045,400 shares of the company’s stock valued at $13,538,000 after purchasing an additional 100,300 shares in the last quarter. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Trading Down 1.2%

Shares of MAX opened at $12.78 on Tuesday. The company’s fifty day simple moving average is $12.80 and its 200 day simple moving average is $10.42. MediaAlpha, Inc. has a 1-year low of $7.09 and a 1-year high of $14.70. The company has a market cap of $782.96 million, a price-to-earnings ratio of 7.89 and a beta of 1.11.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.42. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. The firm had revenue of $316.88 million during the quarter, compared to analysts’ expectations of $300.87 million. As a group, research analysts forecast that MediaAlpha, Inc. will post 0.97 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on MAX. Royal Bank Of Canada lifted their price target on shares of MediaAlpha from $11.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Capital One Financial set a $11.00 price objective on shares of MediaAlpha in a research note on Tuesday, June 9th. Texas Capital upgraded MediaAlpha to a “strong-buy” rating in a report on Tuesday, June 9th. JPMorgan Chase & Co. assumed coverage on MediaAlpha in a research report on Monday. They issued a “neutral” rating and a $15.00 target price on the stock. Finally, Keefe, Bruyette & Woods upped their target price on MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, MediaAlpha currently has an average rating of “Hold” and a consensus target price of $14.29.

Insider Activity

In related news, CRO Keith Cramer sold 13,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $12.76, for a total value of $165,880.00. Following the completion of the sale, the executive directly owned 264,303 shares in the company, valued at approximately $3,372,506.28. This trade represents a 4.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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, CTO Kuanling Amy Yeh sold 12,000 shares of MediaAlpha stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $13.55, for a total value of $162,600.00. Following the transaction, the chief technology officer owned 541,985 shares of the company’s stock, valued at $7,343,896.75. The trade was a 2.17% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last ninety days, insiders have sold 567,700 shares of company stock valued at $7,167,531. 14.65% of the stock is owned by company insiders.

About MediaAlpha

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.