Vanguard Group Inc. Lowers Position 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 holdings in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 19.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,913,328 shares of the company's stock after selling 710,016 shares during the quarter. Vanguard Group Inc. owned about 4.35% of MediaAlpha worth $26,919,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. raised its position in MediaAlpha by 2,683.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 476,342 shares of the company's stock worth $5,378,000 after purchasing an additional 459,227 shares during the period. AQR Capital Management LLC grew its stake in shares of MediaAlpha by 570.7% during the fourth quarter. AQR Capital Management LLC now owns 472,215 shares of the company's stock valued at $5,331,000 after buying an additional 401,807 shares during the last quarter. Millennium Management LLC grew its stake in shares of MediaAlpha by 91.0% during the fourth quarter. Millennium Management LLC now owns 781,349 shares of the company's stock valued at $8,821,000 after buying an additional 372,305 shares during the last quarter. Shay Capital LLC raised its holdings in shares of 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 buying an additional 250,500 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of MediaAlpha by 354.3% during the 4th quarter. Mackenzie Financial Corp now owns 60,259 shares of the company's stock worth $680,000 after acquiring an additional 46,996 shares during the last quarter. Institutional investors own 64.39% of the company's stock.

MediaAlpha Stock Performance

MediaAlpha stock traded up $0.13 during mid-day trading on Tuesday, reaching $10.70. 116,252 shares of the company were exchanged, compared to its average volume of 496,224. The firm has a market cap of $726.96 million, a P/E ratio of -89.58 and a beta of 1.19. The business has a fifty day moving average of $10.43 and a 200 day moving average of $9.90. 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 posted its earnings results on Wednesday, August 6th. The company reported $0.17 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 net margin of 0.61% and a negative return on equity of 62.53%. MediaAlpha's revenue for the quarter was up 41.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. Sell-side analysts predict that MediaAlpha, Inc. will post 0.48 EPS for the current year.

Insiders Place Their Bets

In related news, CRO Keith Cramer sold 20,000 shares of the company's 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 transaction, the executive directly owned 167,200 shares of the company's stock, valued at $1,626,856. This represents a 10.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 price of $9.60 per share, with a total value of $297,600.00. Following the purchase, the director directly owned 129,657 shares in the company, valued at $1,244,707.20. The trade was a 31.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 29,669 shares of company stock worth $297,873 over the last three months. Corporate insiders own 11.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MAX. Royal Bank Of Canada decreased 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. Wall Street Zen downgraded shares of MediaAlpha from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $17.92.

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.