Acadian Asset Management LLC Sells 123,451 Shares of MediaAlpha, Inc. $MAX

Key Points

• Acadian Asset Management LLC reduced its stake in MediaAlpha, Inc. by 27.8%, holding 321,302 shares valued at approximately $2.96 million after selling 123,451 shares in the first quarter.
• MediaAlpha's quarterly earnings report showed an EPS of $0.17, surpassing analysts' expectations, with a revenue of $251.62 million representing a 41.1% increase year-over-year.
• Insider transactions included Director Kathy P. Vrabeck acquiring 31,000 shares valued at around $297,600, while CRO Keith Cramer sold 20,000 shares for about $194,600.

Acadian Asset Management LLC lowered its stake in MediaAlpha, Inc. (NYSE:MAX - Free Report) by 27.8% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 321,302 shares of the company's stock after selling 123,451 shares during the period. Acadian Asset Management LLC owned 0.48% of MediaAlpha worth $2,964,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Clearline Capital LP lifted its holdings in MediaAlpha by 123.4% in the first quarter. Clearline Capital LP now owns 2,654,921 shares of the company's stock worth $24,531,000 after acquiring an additional 1,466,760 shares during the last quarter. AQR Capital Management LLC lifted its position in MediaAlpha by 18.1% in the first quarter. AQR Capital Management LLC now owns 557,796 shares of the company's stock worth $5,154,000 after purchasing an additional 85,581 shares during the period. PDT Partners LLC acquired a new position in MediaAlpha during the first quarter worth about $1,199,000. Graham Capital Management L.P. increased its holdings in shares of MediaAlpha by 15.1% in the first quarter. Graham Capital Management L.P. now owns 73,945 shares of the company's stock valued at $683,000 after buying an additional 9,694 shares in the last quarter. Finally, Broad Bay Capital Management LP boosted its position in shares of MediaAlpha by 23.8% in the 1st quarter. Broad Bay Capital Management LP now owns 2,747,778 shares of the company's stock valued at $25,389,000 after purchasing an additional 529,093 shares during the period. 64.39% of the stock is currently owned by institutional investors and hedge funds.

MediaAlpha Trading Down 3.4%

Shares of NYSE:MAX traded down $0.45 during trading on Friday, reaching $12.96. 1,098,617 shares of the stock were exchanged, compared to its average volume of 662,714. MediaAlpha, Inc. has a 12 month low of $7.33 and a 12 month high of $20.91. The firm has a market cap of $880.37 million, a PE ratio of -107.97 and a beta of 1.19. The stock has a 50-day moving average price of $10.97 and a 200-day moving average price of $10.10.

MediaAlpha (NYSE:MAX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $251.62 million during the quarter, compared to analysts' expectations of $248.80 million. MediaAlpha had a negative return on equity of 62.53% and a negative net margin of 0.61%.The firm's revenue for the quarter was up 41.1% compared to the same quarter last year. During the same period last year, the firm posted $0.07 EPS. On average, sell-side analysts expect that MediaAlpha, Inc. will post 0.48 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on MAX shares. Wall Street Zen downgraded shares of MediaAlpha from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Keefe, Bruyette & Woods upped their target price on MediaAlpha from $17.00 to $18.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $18.25.

Insiders Place Their Bets

In other MediaAlpha news, CRO Keith Cramer sold 20,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $9.73, for a total value of $194,600.00. Following the sale, the executive owned 167,200 shares of the company's stock, valued at approximately $1,626,856. This trade represents a 10.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kathy P. Vrabeck bought 31,000 shares of MediaAlpha stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $9.60 per share, for a total transaction of $297,600.00. Following the acquisition, the director owned 129,657 shares in the company, valued at approximately $1,244,707.20. This represents a 31.42% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 29,669 shares of company stock worth $297,873. Corporate insiders own 13.44% of the company's stock.

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.