MediaAlpha, Inc. $MAX Shares Bought by Algert Global LLC

Key Points

• Algert Global LLC increased its stake in MediaAlpha, Inc. by 65%, acquiring an additional 88,791 shares during the first quarter, bringing its total ownership to 225,300 shares valued at approximately $2.08 million.
• MediaAlpha reported a 41.1% increase in quarterly revenue year-over-year, reaching $251.62 million, and its earnings per share surpassed estimates at $0.17.
• Despite recent institutional investments and positive earnings, MediaAlpha's stock is currently down by 2.7%, with an average price target from analysts set at $17.92.

Algert Global LLC lifted its holdings in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 65.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 225,300 shares of the company's stock after purchasing an additional 88,791 shares during the quarter. Algert Global LLC owned about 0.34% of MediaAlpha worth $2,082,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in MediaAlpha by 8,775.8% during the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock worth $27,000 after buying an additional 2,896 shares during the period. Virtus Fund Advisers LLC acquired a new position in shares of MediaAlpha in the fourth quarter worth $35,000. Quarry LP increased its position in shares of MediaAlpha by 107.1% during the fourth quarter. Quarry LP now owns 5,841 shares of the company's stock worth $66,000 after acquiring an additional 3,021 shares during the period. Arizona State Retirement System purchased a new stake in shares of MediaAlpha during the first quarter worth $95,000. Finally, Walleye Capital LLC acquired a new stake in shares of MediaAlpha in the fourth quarter valued at $132,000. Hedge funds and other institutional investors own 64.39% of the company's stock.

Insider Activity at MediaAlpha

In other news, CRO Keith Cramer sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $9.73, for a total transaction of $194,600.00. Following the completion of the sale, the executive owned 167,200 shares in the company, valued at approximately $1,626,856. The trade was a 10.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathy P. Vrabeck bought 31,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was bought at an average price of $9.60 per share, with a total value 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. Insiders have sold a total of 29,669 shares of company stock valued at $297,873 in the last 90 days. Insiders own 11.53% of the company's stock.

MediaAlpha Stock Performance

Shares of NYSE:MAX traded up $0.2320 on Friday, hitting $10.4120. 640,815 shares of the company's stock were exchanged, compared to its average volume of 536,334. MediaAlpha, Inc. has a 1-year low of $7.33 and a 1-year high of $20.91. The company has a market capitalization of $707.39 million, a PE ratio of 18.25 and a beta of 1.19. The firm's 50-day moving average is $10.47 and its 200 day moving average is $10.01.

MediaAlpha (NYSE:MAX - Get Free Report) last issued its 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 for the quarter, compared to analyst estimates of $248.80 million. MediaAlpha had a negative return on equity of 62.53% and a negative net margin of 0.61%.The business's quarterly revenue was up 41.1% on a year-over-year basis. During the same quarter last year, the company earned $0.07 EPS. On average, analysts anticipate that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. JPMorgan Chase & Co. boosted their target price on MediaAlpha from $10.00 to $12.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Wall Street Zen cut MediaAlpha from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Royal Bank Of Canada lowered their price objective on MediaAlpha from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, MediaAlpha currently has an average rating of "Buy" and an average target price of $17.92.

MediaAlpha 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.