MediaAlpha, Inc. $MAX Shares Bought by AQR Capital Management LLC

Key Points

• AQR Capital Management increased its stake in MediaAlpha, Inc. by 18.1%, owning a total of 557,796 shares valued at approximately $5.15 million.
• Analysts have shown a positive outlook on MediaAlpha, with an average price target of $18.25 and six analysts rating the stock as a Buy.
• MediaAlpha reported a quarterly revenue increase of 41.1% year-over-year, with earnings per share beating estimates at $0.17.

AQR Capital Management LLC grew its holdings in MediaAlpha, Inc. (NYSE:MAX - Free Report) by 18.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 557,796 shares of the company's stock after buying an additional 85,581 shares during the period. AQR Capital Management LLC owned 0.83% of MediaAlpha worth $5,154,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Broad Bay Capital Management LP raised its position in shares of MediaAlpha by 23.8% in the first quarter. Broad Bay Capital Management LP now owns 2,747,778 shares of the company's stock valued at $25,389,000 after buying an additional 529,093 shares during the last quarter. Millennium Management LLC raised its position in shares of MediaAlpha by 91.0% in the fourth quarter. Millennium Management LLC now owns 781,349 shares of the company's stock valued at $8,821,000 after buying an additional 372,305 shares during the last quarter. Nuveen LLC acquired a new stake in shares of MediaAlpha in the first quarter valued at about $4,675,000. Lazard Asset Management LLC raised its position in shares of MediaAlpha by 3.8% in the fourth quarter. Lazard Asset Management LLC now owns 456,550 shares of the company's stock valued at $5,154,000 after buying an additional 16,875 shares during the last quarter. Finally, Shay Capital LLC raised its position in shares of MediaAlpha by 127.2% in the fourth quarter. Shay Capital LLC now owns 447,500 shares of the company's stock valued at $5,052,000 after buying an additional 250,500 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MAX has been the subject of a number of analyst reports. Keefe, Bruyette & Woods upped their price objective on shares of MediaAlpha from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Wall Street Zen lowered shares of MediaAlpha from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $18.25.

Insiders Place Their Bets

In other news, CRO Keith Cramer sold 20,000 shares of MediaAlpha stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $9.73, for a total value of $194,600.00. Following the transaction, the executive directly owned 167,200 shares of the company's stock, valued at $1,626,856. The trade was a 10.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kathy P. Vrabeck bought 31,000 shares of the business's stock in a transaction dated 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 completion of the acquisition, the director directly owned 129,657 shares in the company, valued at approximately $1,244,707.20. This trade represents a 31.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 29,669 shares of company stock worth $297,873 over the last ninety days. Corporate insiders own 13.44% of the company's stock.

MediaAlpha Stock Performance

MAX stock traded up $0.28 during midday trading on Thursday, reaching $13.43. 524,546 shares of the company were exchanged, compared to its average volume of 651,486. MediaAlpha, Inc. has a 1-year low of $7.33 and a 1-year high of $20.91. The stock's 50-day simple moving average is $10.92 and its 200 day simple moving average is $10.07. The company has a market cap of $912.23 million, a price-to-earnings ratio of -111.88 and a beta of 1.19.

MediaAlpha (NYSE:MAX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. MediaAlpha had a negative net margin of 0.61% and a negative return on equity of 62.53%. The company had revenue of $251.62 million for the quarter, compared to analysts' expectations of $248.80 million. During the same quarter last year, the company earned $0.07 earnings per share. The firm's revenue for the quarter was up 41.1% on a year-over-year basis. On average, research analysts anticipate that MediaAlpha, Inc. will post 0.48 earnings per share 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.