Vanguard Group Inc. Has $26.92 Million Stock Holdings in MediaAlpha, Inc. $MAX

Key Points

• Vanguard Group Inc. has reduced its stake in MediaAlpha, Inc. by 19.6%, now owning approximately 4.35% of the company valued at $26.9 million.
• Several other investors have adjusted their positions in MediaAlpha, with notable increases from firms like Blair William & Co. and Y Intercept Hong Kong Ltd.
• Analysts provided mixed ratings for MediaAlpha, with JPMorgan Chase raising its price target to $12, while other firms downgraded the stock to a "hold" rating.

Vanguard Group Inc. decreased its stake in MediaAlpha, Inc. (NYSE:MAX - Free Report) by 19.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,913,328 shares of the company's stock after selling 710,016 shares during the period. Vanguard Group Inc. owned approximately 4.35% of MediaAlpha worth $26,919,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of MAX. Jacobs Levy Equity Management Inc. grew its stake in shares of MediaAlpha by 2,683.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 476,342 shares of the company's stock worth $5,378,000 after acquiring an additional 459,227 shares during the last quarter. AQR Capital Management LLC lifted its position in MediaAlpha by 570.7% in the fourth quarter. AQR Capital Management LLC now owns 472,215 shares of the company's stock worth $5,331,000 after purchasing an additional 401,807 shares during the period. Millennium Management LLC lifted its position in MediaAlpha by 91.0% in the fourth quarter. Millennium Management LLC now owns 781,349 shares of the company's stock worth $8,821,000 after purchasing an additional 372,305 shares during the period. Shay Capital LLC lifted its position in MediaAlpha by 127.2% in the fourth quarter. Shay Capital LLC now owns 447,500 shares of the company's stock worth $5,052,000 after purchasing an additional 250,500 shares during the period. Finally, Mackenzie Financial Corp lifted its position in MediaAlpha by 354.3% in the fourth quarter. Mackenzie Financial Corp now owns 60,259 shares of the company's stock worth $680,000 after purchasing an additional 46,996 shares during the period. Institutional investors and hedge funds own 64.39% of the company's stock.

Insiders Place Their Bets

In other MediaAlpha news, CRO Keith Cramer sold 20,000 shares of MediaAlpha stock in a transaction 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 completion of the transaction, the executive directly owned 167,200 shares of the company's stock, valued at approximately $1,626,856. This trade represents a 10.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kathy P. Vrabeck acquired 31,000 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were bought at an average cost of $9.60 per share, with a total value 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 trade represents a 31.42% increase in their position. 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. Company insiders own 11.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Wall Street Zen cut MediaAlpha from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Royal Bank Of Canada reduced their target price on MediaAlpha from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat, MediaAlpha has an average rating of "Buy" and a consensus price target of $17.92.

MediaAlpha Stock Performance

Shares of NYSE MAX traded up $0.12 during midday trading on Wednesday, reaching $10.88. 726,771 shares of the company traded hands, compared to its average volume of 530,647. The firm has a market cap of $738.98 million, a PE ratio of -90.63 and a beta of 1.19. The stock's 50-day simple moving average is $10.43 and its 200-day simple moving average is $9.91. 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 data on Wednesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. The company had revenue of $251.62 million during 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%.The business's revenue was up 41.1% on a year-over-year basis. During the same period last year, the business earned $0.07 earnings per share. On average, equities research analysts expect that MediaAlpha, Inc. will post 0.48 EPS for the current 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.