Earnest Partners LLC Has $2.52 Million Holdings in MediaAlpha, Inc. $MAX

Key Points

• Earnest Partners LLC increased its holdings in MediaAlpha, Inc. (NYSE:MAX) by 12.8%, owning 272,433 shares valued at approximately $2.52 million as of the latest reporting period.
• Multiple large investors significantly increased their stakes in MediaAlpha, with noteworthy increases including AQR Capital Management LLC's stake growing by 570.7% in the last quarter.
• The stock currently has a consensus rating of "Buy" with a target price averaging $17.92, despite a recent price adjustment by Royal Bank Of Canada reducing its target from $20.00 to $18.00.

Earnest Partners LLC grew its stake in MediaAlpha, Inc. (NYSE:MAX - Free Report) by 12.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 272,433 shares of the company's stock after purchasing an additional 30,874 shares during the period. Earnest Partners LLC owned approximately 0.41% of MediaAlpha worth $2,517,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of MediaAlpha by 8,775.8% in the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock worth $27,000 after acquiring an additional 2,896 shares in the last quarter. Virtus Fund Advisers LLC acquired a new position in shares of MediaAlpha in the 4th quarter worth approximately $35,000. Quarry LP boosted its holdings in shares of MediaAlpha by 107.1% in the 4th quarter. Quarry LP now owns 5,841 shares of the company's stock worth $66,000 after acquiring an additional 3,021 shares in the last quarter. Arizona State Retirement System acquired a new position in shares of MediaAlpha in the 1st quarter worth approximately $95,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of MediaAlpha by 42.0% in the 4th quarter. Wells Fargo & Company MN now owns 14,409 shares of the company's stock worth $163,000 after acquiring an additional 4,264 shares in the last quarter. 64.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MAX. Royal Bank Of Canada reduced their target price on MediaAlpha from $20.00 to $18.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Wall Street Zen downgraded MediaAlpha from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $17.92.

MediaAlpha Stock Up 2.8%

Shares of MAX traded up $0.29 during trading hours on Friday, reaching $10.57. The stock had a trading volume of 292,127 shares, compared to its average volume of 545,743. The firm has a 50-day moving average of $10.44 and a 200 day moving average of $9.91. The company has a market cap of $717.92 million, a P/E ratio of -88.05 and a beta of 1.19. MediaAlpha, Inc. has a 52 week low of $7.33 and a 52 week high of $20.91.

MediaAlpha (NYSE:MAX - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $251.62 million during the quarter, compared to analysts' expectations of $248.80 million. During the same quarter last year, the company earned $0.07 EPS. MediaAlpha's revenue for the quarter was up 41.1% compared to the same quarter last year. As a group, equities analysts expect that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

Insider Activity at MediaAlpha

In other MediaAlpha news, CRO Keith Cramer sold 20,000 shares of the firm'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 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kathy P. Vrabeck bought 31,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were 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 of the company's stock, valued at approximately $1,244,707.20. This trade represents a 31.42% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 29,669 shares of company stock valued at $297,873 over the last 90 days. Company insiders own 11.53% 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.