Deutsche Bank AG Purchases 80,620 Shares of MediaAlpha, Inc. $MAX

Key Points

• Deutsche Bank AG increased its stake in MediaAlpha, Inc. by 80.6%, owning approximately $1.67 million worth of shares after acquiring an additional 80,620 shares in the first quarter.
• Institutional investors now hold 64.39% of MediaAlpha stock, with notable recent increases from firms like GAMMA Investing LLC and Quarry LP, reflecting growing institutional interest.
• MediaAlpha reported a 41.1% year-over-year revenue increase of $251.62 million for the quarter and surpassed earnings expectations with an EPS of $0.17.

Deutsche Bank AG lifted its position in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 80.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 180,691 shares of the company's stock after buying an additional 80,620 shares during the quarter. Deutsche Bank AG owned about 0.27% of MediaAlpha worth $1,670,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of MediaAlpha by 54.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 42,298 shares of the company's stock worth $381,000 after buying an additional 14,871 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of MediaAlpha by 8,775.8% during the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock worth $27,000 after buying an additional 2,896 shares in the last quarter. Virtus Investment Advisers Inc. acquired a new stake in shares of MediaAlpha during the fourth quarter worth $172,000. Millennium Management LLC lifted its holdings in shares of MediaAlpha by 91.0% during the fourth 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 in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of MediaAlpha by 52.8% during the fourth quarter. JPMorgan Chase & Co. now owns 122,386 shares of the company's stock worth $1,382,000 after buying an additional 42,315 shares in the last quarter. Institutional investors and hedge funds own 64.39% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MAX. Wall Street Zen downgraded MediaAlpha from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Royal Bank Of Canada dropped their price target on MediaAlpha from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. boosted their price target on MediaAlpha from $10.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, MediaAlpha presently has a consensus rating of "Buy" and a consensus target price of $17.92.

MediaAlpha Trading Down 0.5%

MediaAlpha stock traded down $0.05 during midday trading on Thursday, reaching $10.32. The company's stock had a trading volume of 497,241 shares, compared to its average volume of 541,760. MediaAlpha, Inc. has a 52 week low of $7.33 and a 52 week high of $20.91. The business has a 50-day moving average price of $10.44 and a 200-day moving average price of $9.97. The stock has a market cap of $701.14 million, a PE ratio of -85.99 and a beta of 1.19.

MediaAlpha (NYSE:MAX - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. MediaAlpha had a negative return on equity of 62.53% and a negative net margin of 0.61%.The firm had revenue of $251.62 million for the quarter, compared to analysts' expectations of $248.80 million. During the same quarter in the previous year, the business posted $0.07 earnings per share. The business's revenue for the quarter was up 41.1% on a year-over-year basis. As a group, research analysts predict that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

Insider Transactions at MediaAlpha

In other MediaAlpha news, Director Kathy P. Vrabeck bought 31,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were purchased at an average price of $9.60 per share, for a total transaction of $297,600.00. Following the completion of the transaction, the director directly owned 129,657 shares in the company, valued at approximately $1,244,707.20. The trade was a 31.42% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Keith Cramer sold 20,000 shares of MediaAlpha stock in a transaction dated 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 owned 167,200 shares in the company, valued at approximately $1,626,856. This represents a 10.68% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,669 shares of company stock worth $297,873. Company insiders own 13.44% of the company's stock.

About MediaAlpha

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.