Broad Bay Capital Management LP Sells 248,781 Shares of MediaAlpha, Inc. (NYSE:MAX)

Broad Bay Capital Management LP decreased its stake in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 10.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,218,685 shares of the company's stock after selling 248,781 shares during the period. MediaAlpha accounts for approximately 3.1% of Broad Bay Capital Management LP's holdings, making the stock its 10th biggest holding. Broad Bay Capital Management LP owned about 3.33% of MediaAlpha worth $25,049,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of MediaAlpha by 4.9% during the fourth quarter. Vanguard Group Inc. now owns 3,623,344 shares of the company's stock worth $40,908,000 after buying an additional 169,654 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in MediaAlpha by 77.7% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company's stock valued at $18,389,000 after purchasing an additional 712,410 shares during the period. Geode Capital Management LLC increased its stake in MediaAlpha by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 698,703 shares of the company's stock valued at $7,890,000 after purchasing an additional 8,129 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of MediaAlpha by 87.7% in the 4th quarter. Renaissance Technologies LLC now owns 539,300 shares of the company's stock valued at $6,089,000 after buying an additional 252,000 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of MediaAlpha by 570.7% in the 4th quarter. AQR Capital Management LLC now owns 472,215 shares of the company's stock valued at $5,331,000 after buying an additional 401,807 shares in the last quarter. Institutional investors own 64.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MAX shares. The Goldman Sachs Group decreased their target price on MediaAlpha from $14.00 to $12.50 and set a "buy" rating for the company in a research note on Monday, April 14th. BMO Capital Markets dropped their target price on shares of MediaAlpha from $27.00 to $23.00 and set an "outperform" rating on the stock in a report on Thursday, April 3rd. JPMorgan Chase & Co. upped their price target on shares of MediaAlpha from $10.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Canaccord Genuity Group dropped their price objective on shares of MediaAlpha from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, February 24th. Finally, Keefe, Bruyette & Woods cut their price objective on shares of MediaAlpha from $19.00 to $16.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, MediaAlpha currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.21.

MediaAlpha Stock Performance

MediaAlpha stock traded up $0.06 during mid-day trading on Friday, reaching $10.03. The company's stock had a trading volume of 532,582 shares, compared to its average volume of 641,765. MediaAlpha, Inc. has a 12 month low of $7.33 and a 12 month high of $20.91. The business's 50 day simple moving average is $8.81 and its 200 day simple moving average is $11.03. The company has a market capitalization of $672.31 million, a price-to-earnings ratio of 59.00 and a beta of 1.12.

MediaAlpha (NYSE:MAX - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.02). MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The company had revenue of $264.31 million during the quarter, compared to analyst estimates of $236.07 million. During the same period in the prior year, the firm posted ($0.02) EPS. MediaAlpha's revenue was up 108.7% compared to the same quarter last year. As a group, sell-side analysts expect that MediaAlpha, Inc. will post 0.48 EPS for the current year.

MediaAlpha Company Profile

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.