Janney Montgomery Scott LLC Makes New Investment in MediaAlpha, Inc. $MAX

Janney Montgomery Scott LLC purchased a new stake in MediaAlpha, Inc. (NYSE:MAX - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 81,723 shares of the company's stock, valued at approximately $895,000. Janney Montgomery Scott LLC owned 0.12% of MediaAlpha as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of MediaAlpha by 54.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 42,298 shares of the company's stock valued at $381,000 after buying an additional 14,871 shares during the period. 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 valued at $27,000 after buying an additional 2,896 shares during the period. AQR Capital Management LLC boosted its holdings in shares of MediaAlpha by 18.1% in the 1st quarter. AQR Capital Management LLC now owns 557,796 shares of the company's stock valued at $5,154,000 after buying an additional 85,581 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of MediaAlpha by 21.7% in the 1st quarter. Hsbc Holdings PLC now owns 50,406 shares of the company's stock valued at $472,000 after buying an additional 8,981 shares during the period. Finally, Nuveen LLC acquired a new position in shares of MediaAlpha in the 1st quarter valued at about $4,675,000. 64.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on MAX. Wall Street Zen lowered shares of MediaAlpha from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods lifted their price target on shares of MediaAlpha from $17.00 to $18.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Weiss Ratings reiterated a "sell (d-)" rating on shares of MediaAlpha in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group downgraded shares of MediaAlpha from a "buy" rating to a "neutral" rating and set a $12.00 price objective on the stock. in a research report on Tuesday. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, MediaAlpha currently has an average rating of "Moderate Buy" and a consensus price target of $18.17.

MediaAlpha Trading Up 6.6%

MAX stock opened at $11.17 on Wednesday. MediaAlpha, Inc. has a 52 week low of $7.33 and a 52 week high of $20.91. The company has a market capitalization of $758.89 million, a price-to-earnings ratio of -93.08 and a beta of 1.20. The firm's 50-day moving average is $11.34 and its two-hundred day moving average is $10.35.

MediaAlpha (NYSE:MAX - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The business 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 business's quarterly revenue was up 41.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 earnings per share. On average, equities research analysts predict that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

Insider Buying and Selling

In other MediaAlpha news, Director Kathy P. Vrabeck bought 31,000 shares of MediaAlpha stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased 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 owned 129,657 shares of the company's stock, valued at approximately $1,244,707.20. This represents a 31.42% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available 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 $1,626,856. The trade was a 10.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,669 shares of company stock valued at $297,873 over the last 90 days. 11.53% of the stock is currently owned by insiders.

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.

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