Lighthouse Investment Partners LLC Sells 266,583 Shares of MediaAlpha, Inc. (NYSE:MAX)

Lighthouse Investment Partners LLC reduced its position in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 75.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 85,081 shares of the company's stock after selling 266,583 shares during the period. Lighthouse Investment Partners LLC owned 0.13% of MediaAlpha worth $961,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MAX. Jacobs Asset Management LLC increased its holdings in MediaAlpha by 5.4% during the fourth quarter. Jacobs Asset Management LLC now owns 356,900 shares of the company's stock worth $4,029,000 after buying an additional 18,125 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position 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 valued at $5,378,000 after purchasing an additional 459,227 shares during the period. Graham Capital Management L.P. raised its position in shares of MediaAlpha by 102.9% in the fourth quarter. Graham Capital Management L.P. now owns 64,251 shares of the company's stock valued at $725,000 after purchasing an additional 32,584 shares during the period. Corton Capital Inc. increased its holdings in MediaAlpha by 8.5% during the 4th quarter. Corton Capital Inc. now owns 38,487 shares of the company's stock worth $435,000 after acquiring an additional 3,012 shares during the period. Finally, Brevan Howard Capital Management LP bought a new stake in MediaAlpha during the 4th quarter worth approximately $180,000. 64.39% of the stock is owned by institutional investors.

MediaAlpha Stock Down 1.0%

Shares of NYSE:MAX traded down $0.10 during midday trading on Tuesday, reaching $10.23. The company's stock had a trading volume of 47,517 shares, compared to its average volume of 636,157. The firm has a 50 day moving average of $9.00 and a 200-day moving average of $10.56. The firm has a market capitalization of $685.72 million, a P/E ratio of 60.18 and a beta of 1.12. 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 announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The firm had revenue of $264.31 million for the quarter, compared to analysts' expectations of $236.07 million. During the same period last year, the company posted ($0.02) earnings per share. The business's revenue for the quarter was up 108.7% compared to the same quarter last year. On average, research analysts predict that MediaAlpha, Inc. will post 0.48 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MAX shares. Canaccord Genuity Group cut their price target on shares of MediaAlpha from $30.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, February 24th. Keefe, Bruyette & Woods lowered their price objective on shares of MediaAlpha from $19.00 to $16.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. BMO Capital Markets lowered their price target on shares of MediaAlpha from $27.00 to $23.00 and set an "outperform" rating for the company in a report on Thursday, April 3rd. JPMorgan Chase & Co. upped their price target on shares of MediaAlpha from $10.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. Finally, The Goldman Sachs Group decreased their price objective on shares of MediaAlpha from $14.00 to $12.50 and set a "buy" rating for the company in a report on Monday, April 14th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, MediaAlpha has an average rating of "Moderate Buy" and a consensus target price of $17.21.

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.