MediaAlpha, Inc. $MAX Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. significantly cut its stake in MediaAlpha, Inc. by 70.9%, selling 337,744 shares, leaving it with 138,598 shares valued at approximately $1.28 million.
• MediaAlpha's earnings showed a positive trend, reporting a 41.1% increase in quarterly revenue year-over-year, and beating analysts' earnings estimates with an EPS of $0.17.
• Despite recent downgrades and mixed ratings from analysts, the stock maintains an average target price of $18.25, with six analysts rating it as a Buy.

Jacobs Levy Equity Management Inc. lessened its holdings in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 70.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 138,598 shares of the company's stock after selling 337,744 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.21% of MediaAlpha worth $1,281,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MAX. Broad Bay Capital Management LP boosted its stake in 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 purchasing an additional 529,093 shares during the last quarter. Nuveen LLC acquired a new stake in MediaAlpha during the 1st quarter worth $4,675,000. Millennium Management LLC raised its holdings in shares of MediaAlpha by 91.0% during the 4th quarter. Millennium Management LLC now owns 781,349 shares of the company's stock worth $8,821,000 after acquiring an additional 372,305 shares during the period. Shay Capital LLC raised its holdings in shares of MediaAlpha by 127.2% during the 4th quarter. Shay Capital LLC now owns 447,500 shares of the company's stock worth $5,052,000 after acquiring an additional 250,500 shares during the period. Finally, PDT Partners LLC purchased a new position in shares of MediaAlpha during the 1st quarter worth $1,199,000. Institutional investors and hedge funds own 64.39% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Kathy P. Vrabeck acquired 31,000 shares of MediaAlpha stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average cost of $9.60 per share, for a total transaction of $297,600.00. Following the acquisition, the director owned 129,657 shares in the company, valued at approximately $1,244,707.20. This represents a 31.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Keith Cramer sold 20,000 shares of the business's stock in a transaction dated 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 owned 167,200 shares in the company, valued at approximately $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. Over the last 90 days, insiders sold 29,669 shares of company stock worth $297,873. 13.44% of the stock is owned by insiders.

MediaAlpha Trading Up 0.8%

MAX traded up $0.10 on Friday, hitting $12.98. The company had a trading volume of 502,089 shares, compared to its average volume of 623,220. The firm has a market cap of $881.91 million, a P/E ratio of -108.16 and a beta of 1.19. MediaAlpha, Inc. has a 1 year low of $7.33 and a 1 year high of $20.91. The company's fifty day moving average price is $10.71 and its 200 day moving average price is $9.97.

MediaAlpha (NYSE:MAX - Get Free Report) last issued 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 firm had revenue of $251.62 million for 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%. MediaAlpha's revenue was up 41.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 EPS. On average, analysts predict that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

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.