Sei Investments Co. Sells 46,106 Shares of MediaAlpha, Inc. $MAX

Sei Investments Co. lowered its stake in shares of MediaAlpha, Inc. (NYSE:MAX) by 56.3% during the 1st quarter, HoldingsChannel reports. The fund owned 35,738 shares of the company’s stock after selling 46,106 shares during the period. Sei Investments Co.’s holdings in MediaAlpha were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd grew its position in shares of MediaAlpha by 5,900.0% in the fourth 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. raised its stake in shares of MediaAlpha by 9,917.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock valued at $36,000 after purchasing an additional 2,777 shares during the period. Quarry LP raised its stake in shares of MediaAlpha by 43.3% during the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock valued at $47,000 after purchasing an additional 1,234 shares during the period. Strs Ohio purchased a new stake in MediaAlpha during the 4th quarter worth about $49,000. Finally, Tower Research Capital LLC TRC lifted its holdings in MediaAlpha by 28.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock worth $61,000 after purchasing an additional 1,213 shares in the last quarter. 64.39% of the stock is owned by institutional investors.

Insider Transactions at MediaAlpha

In related news, Director Eugene Nonko sold 3,282 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $12.89, for a total value of $42,304.98. Following the sale, the director directly owned 842,400 shares of the company’s stock, valued at $10,858,536. This trade represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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, insider Steven Yi sold 72,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $12.64, for a total transaction of $910,080.00. Following the completion of the transaction, the insider directly owned 2,387,690 shares of the company’s stock, valued at approximately $30,180,401.60. This represents a 2.93% 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. In the last quarter, insiders have sold 519,726 shares of company stock valued at $6,540,242. Corporate insiders own 14.65% of the company’s stock.

MediaAlpha Stock Performance

MediaAlpha stock opened at $13.15 on Monday. MediaAlpha, Inc. has a fifty-two week low of $7.09 and a fifty-two week high of $14.70. The stock has a market cap of $805.81 million, a P/E ratio of 8.12 and a beta of 1.11. The firm’s fifty day moving average price is $12.37 and its 200-day moving average price is $10.30.

MediaAlpha (NYSE:MAX) last posted its earnings results on Wednesday, July 29th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.23 by $0.42. The business had revenue of $316.88 million during the quarter, compared to analysts’ expectations of $300.87 million. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%. Sell-side analysts predict that MediaAlpha, Inc. will post 0.97 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on MAX shares. Keefe, Bruyette & Woods lifted their target price on MediaAlpha from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. Zacks Research downgraded shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. TD Cowen lowered their price target on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, June 23rd. JPMorgan Chase & Co. raised their price objective on shares of MediaAlpha from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, The Goldman Sachs Group boosted their price objective on shares of MediaAlpha from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.86.

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.