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 holdings in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 12.8% during the first quarter, according to its most recent Form 13F filing with the SEC. 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 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its holdings in shares of MediaAlpha by 14.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,236 shares of the company's stock valued at $229,000 after purchasing an additional 2,492 shares during the period. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 2,896 shares during the period. Corton Capital Inc. grew its holdings in MediaAlpha by 8.5% during the fourth quarter. Corton Capital Inc. now owns 38,487 shares of the company's stock worth $435,000 after acquiring an additional 3,012 shares during the period. Quarry LP grew its holdings in 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. Finally, Virtus Fund Advisers LLC acquired a new position in MediaAlpha during the fourth quarter worth about $35,000. 64.39% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MediaAlpha

In related news, Director Kathy P. Vrabeck purchased 31,000 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average price of $9.60 per share, with a total value of $297,600.00. Following the purchase, the director owned 129,657 shares of the company's stock, valued at $1,244,707.20. This trade represents a 31.42% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Keith Cramer sold 20,000 shares of MediaAlpha stock in a transaction dated Tuesday, August 12th. The stock was 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 represents a 10.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,669 shares of company stock worth $297,873 in the last three months. 11.53% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank Of Canada lowered 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 lowered 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.com, the company presently has an average rating of "Buy" and an average price target of $17.92.

MediaAlpha Stock Performance

MAX traded up $0.24 during trading on Wednesday, reaching $11.00. The company had a trading volume of 101,892 shares, compared to its average volume of 496,016. The firm's 50-day simple moving average is $10.43 and its 200 day simple moving average is $9.90. The company has a market cap of $747.54 million, a price-to-earnings ratio of -91.70 and a beta of 1.19. MediaAlpha, Inc. has a 12-month low of $7.33 and a 12-month high of $20.91.

MediaAlpha (NYSE:MAX - Get Free Report) last issued its quarterly earnings results 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. The firm 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%.MediaAlpha's revenue was up 41.1% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. On average, sell-side analysts expect that MediaAlpha, Inc. will post 0.48 EPS for the current year.

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.