AQR Capital Management LLC Boosts Stake in MediaAlpha, Inc. $MAX

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 position in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 18.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 557,796 shares of the company's stock after acquiring an additional 85,581 shares during the period. AQR Capital Management LLC owned about 0.83% of MediaAlpha worth $5,154,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MAX. Broad Bay Capital Management LP grew its holdings in shares of MediaAlpha by 23.8% during the 1st quarter. Broad Bay Capital Management LP now owns 2,747,778 shares of the company's stock worth $25,389,000 after acquiring an additional 529,093 shares during the period. Nuveen LLC purchased a new stake in shares of MediaAlpha in the 1st quarter worth approximately $4,675,000. Millennium Management LLC grew its stake in shares of MediaAlpha by 91.0% in the 4th quarter. Millennium Management LLC now owns 781,349 shares of the company's stock worth $8,821,000 after buying an additional 372,305 shares during the last quarter. Shay Capital LLC grew its stake in shares of MediaAlpha by 127.2% in the 4th quarter. Shay Capital LLC now owns 447,500 shares of the company's stock worth $5,052,000 after buying an additional 250,500 shares during the last quarter. Finally, PDT Partners LLC purchased a new stake in shares of MediaAlpha in the 1st quarter worth approximately $1,199,000. Hedge funds and other institutional investors own 64.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MAX shares. Keefe, Bruyette & Woods upped their price target on MediaAlpha from $17.00 to $18.00 and gave the stock an "outperform" rating in a research note 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 investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, MediaAlpha presently has an average rating of "Buy" and an average price target of $18.25.

MediaAlpha Trading Up 0.8%

MAX stock opened at $12.98 on Friday. The stock has a market capitalization of $881.86 million, a PE ratio of -108.16 and a beta of 1.19. MediaAlpha, Inc. has a 12-month low of $7.33 and a 12-month high of $20.91. The stock's 50 day simple moving average is $10.71 and its 200 day simple moving average is $9.97.

MediaAlpha (NYSE:MAX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The business had revenue of $251.62 million for 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 quarterly revenue was up 41.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.07 EPS. On average, research analysts predict that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

Insider Activity at MediaAlpha

In other MediaAlpha news, Director Kathy P. Vrabeck acquired 31,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average cost of $9.60 per share, with a total value of $297,600.00. Following the transaction, the director owned 129,657 shares of the company's stock, valued at $1,244,707.20. The trade was a 31.42% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Keith Cramer sold 20,000 shares of the company'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 value of $194,600.00. Following the completion of the transaction, the executive directly owned 167,200 shares in the company, valued at $1,626,856. This trade represents a 10.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,669 shares of company stock worth $297,873 over the last ninety days. 13.44% of the stock is currently owned by insiders.

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.

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