MediaAlpha, Inc. $MAX Stake Lessened by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. reduced its holdings in MediaAlpha, Inc. by 39.1%, leaving them with approximately 41,283 shares, valued at $381,000, after selling 26,549 shares in the first quarter.
• MediaAlpha's stock recently experienced analyst downgrades, with Wall Street Zen changing its rating from "buy" to "hold" and price targets adjusted by multiple analysts, with an overall consensus price target of $17.92.
• In its latest earnings report, MediaAlpha achieved a 41.1% year-over-year revenue increase to $251.62 million and reported earnings per share (EPS) of $0.17, slightly surpassing estimates.

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 39.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,283 shares of the company's stock after selling 26,549 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of MediaAlpha worth $381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MAX. Jacobs Levy Equity Management Inc. boosted its stake in MediaAlpha by 2,683.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 476,342 shares of the company's stock valued at $5,378,000 after purchasing an additional 459,227 shares in the last quarter. AQR Capital Management LLC boosted its stake in MediaAlpha by 570.7% during the 4th quarter. AQR Capital Management LLC now owns 472,215 shares of the company's stock valued at $5,331,000 after purchasing an additional 401,807 shares in the last quarter. Millennium Management LLC boosted its stake in MediaAlpha by 91.0% during the 4th quarter. Millennium Management LLC now owns 781,349 shares of the company's stock valued at $8,821,000 after purchasing an additional 372,305 shares in the last quarter. Shay Capital LLC boosted its stake in MediaAlpha by 127.2% during the 4th quarter. Shay Capital LLC now owns 447,500 shares of the company's stock valued at $5,052,000 after purchasing an additional 250,500 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in MediaAlpha by 118.0% during the 4th quarter. Marshall Wace LLP now owns 387,701 shares of the company's stock valued at $4,377,000 after purchasing an additional 209,875 shares in the last quarter. 64.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MAX shares. Wall Street Zen lowered MediaAlpha from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Royal Bank Of Canada decreased their price target on MediaAlpha from $20.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, JPMorgan Chase & Co. increased their price target on MediaAlpha from $10.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, MediaAlpha has a consensus rating of "Buy" and a consensus price target of $17.92.

Insider Buying and Selling at MediaAlpha

In other news, CRO Keith Cramer sold 20,000 shares of the stock in a transaction on 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 sale, the executive owned 167,200 shares in the company, valued at $1,626,856. This represents a 10.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathy P. Vrabeck bought 31,000 shares of MediaAlpha stock in a transaction dated Tuesday, August 12th. The stock was acquired at an average price of $9.60 per share, with a total value of $297,600.00. Following the acquisition, the director directly owned 129,657 shares of the company's stock, valued at approximately $1,244,707.20. This represents a 31.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 29,669 shares of company stock valued at $297,873. Corporate insiders own 13.44% of the company's stock.

MediaAlpha Price Performance

Shares of MAX traded up $0.2320 during trading hours on Friday, hitting $10.4120. 640,815 shares of the company were exchanged, compared to its average volume of 522,860. The company has a market capitalization of $707.39 million, a PE ratio of -86.76 and a beta of 1.19. The firm has a fifty day simple moving average of $10.47 and a 200-day simple moving average of $10.01. MediaAlpha, Inc. has a one year low of $7.33 and a one year high of $20.91.

MediaAlpha (NYSE:MAX - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.17 earnings per share for the quarter, topping 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 return on equity of 62.53% and a negative net margin of 0.61%.The company's revenue was up 41.1% compared to the same quarter last year. During the same period last year, the company posted $0.07 EPS. 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.