Goldman Sachs Group Inc. Sells 68,399 Shares of MediaAlpha, Inc. $MAX

Key Points

• Goldman Sachs Group Inc. reduced its stake in MediaAlpha, Inc. by 8.5%, now holding approximately 736,531 shares valued at about $6.8 million.
• Wall Street analysts have a consensus rating of "Buy" for MediaAlpha, with a price target of $18.25, after recent performance improvements including a 41.1% year-over-year revenue increase.
• Insider transactions indicate confidence in MediaAlpha, with Director Kathy P. Vrabeck purchasing 31,000 shares, while CRO Keith Cramer sold 20,000 shares amidst other trading activities.

Goldman Sachs Group Inc. lowered its stake in MediaAlpha, Inc. (NYSE:MAX - Free Report) by 8.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 736,531 shares of the company's stock after selling 68,399 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.10% of MediaAlpha worth $6,806,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GAMMA Investing LLC boosted 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 acquiring an additional 2,896 shares during the period. Virtus Fund Advisers LLC bought a new stake in shares of MediaAlpha during the fourth quarter worth approximately $35,000. Arizona State Retirement System bought a new stake in shares of MediaAlpha during the first quarter worth approximately $95,000. EntryPoint Capital LLC bought a new stake in shares of MediaAlpha during the first quarter worth approximately $137,000. Finally, Cerity Partners LLC bought a new stake in shares of MediaAlpha during the first quarter worth approximately $150,000. Institutional investors and hedge funds own 64.39% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on MAX shares. Keefe, Bruyette & Woods boosted their price objective on shares of MediaAlpha from $17.00 to $18.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Wall Street Zen downgraded MediaAlpha from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $18.25.

Insider Activity at MediaAlpha

In related news, Director Kathy P. Vrabeck purchased 31,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was bought at an average price of $9.60 per share, for a total transaction of $297,600.00. Following the purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Keith Cramer sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $9.73, for a total transaction of $194,600.00. Following the sale, the executive owned 167,200 shares of the company's stock, valued at approximately $1,626,856. The trade was a 10.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,669 shares of company stock valued at $297,873. 13.44% of the stock is currently owned by company insiders.

MediaAlpha Trading Down 1.2%

NYSE MAX traded down $0.16 during trading hours on Friday, hitting $13.25. The company's stock had a trading volume of 184,257 shares, compared to its average volume of 520,055. The company has a market capitalization of $900.26 million, a PE ratio of -110.41 and a beta of 1.19. MediaAlpha, Inc. has a 52 week low of $7.33 and a 52 week high of $20.91. The company's 50-day simple moving average is $10.92 and its two-hundred day simple moving average is $10.07.

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