MediaAlpha, Inc. $MAX Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its stake in shares of MediaAlpha, Inc. (NYSE:MAX) by 94.8% in the first quarter, HoldingsChannel reports. The firm owned 13,862 shares of the company’s stock after selling 252,044 shares during the quarter. Janus Henderson Group PLC’s holdings in MediaAlpha were worth $129,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in MediaAlpha by 5,900.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock valued at $28,000 after purchasing an additional 2,124 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of MediaAlpha by 9,917.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock worth $36,000 after buying an additional 2,777 shares in the last quarter. Strs Ohio purchased a new stake in shares of MediaAlpha during the fourth quarter worth about $49,000. Quarry LP raised its position in shares of MediaAlpha by 43.3% in the third quarter. Quarry LP now owns 4,087 shares of the company’s stock valued at $47,000 after buying an additional 1,234 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of MediaAlpha by 28.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock valued at $61,000 after buying an additional 1,213 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MAX. Weiss Ratings upgraded shares of MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 1st. Texas Capital upgraded MediaAlpha to a “strong-buy” rating in a report on Tuesday, June 9th. Canaccord Genuity Group increased their price target on MediaAlpha from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. The Goldman Sachs Group raised their price objective on MediaAlpha from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Finally, Capital One Financial set a $11.00 price objective on MediaAlpha in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.86.

Insider Buying and Selling at MediaAlpha

In related news, insider Steven Yi sold 72,000 shares of MediaAlpha stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $12.64, for a total value of $910,080.00. Following the transaction, the insider owned 2,387,690 shares in the company, valued at approximately $30,180,401.60. This trade represents a 2.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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, Director Eugene Nonko sold 2,667 shares of MediaAlpha stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $12.50, for a total value of $33,337.50. Following the completion of the transaction, the director owned 854,913 shares in the company, valued at $10,686,412.50. The trade was a 0.31% decrease in their position. 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. Insiders have sold a total of 526,752 shares of company stock valued at $6,479,834 over the last three months. Corporate insiders own 14.65% of the company’s stock.

MediaAlpha Price Performance

Shares of MAX stock opened at $13.09 on Wednesday. The firm’s 50-day simple moving average is $12.10 and its 200-day simple moving average is $10.25. MediaAlpha, Inc. has a 1-year low of $7.09 and a 1-year high of $14.70. The firm has a market cap of $801.59 million, a P/E ratio of 8.08 and a beta of 1.11.

MediaAlpha (NYSE:MAX) last released its earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share (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 the consensus estimate of $300.87 million. Analysts expect that MediaAlpha, Inc. will post 0.97 earnings per share for the current fiscal year.

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.