Los Angeles Capital Management LLC Has $999,000 Stock Holdings in MediaAlpha, Inc. (NYSE:MAX)

Los Angeles Capital Management LLC lifted its stake in shares of MediaAlpha, Inc. (NYSE:MAX) by 91.9% during the third quarter, HoldingsChannel reports. The firm owned 55,183 shares of the company’s stock after acquiring an additional 26,420 shares during the quarter. Los Angeles Capital Management LLC’s holdings in MediaAlpha were worth $999,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in MAX. Driehaus Capital Management LLC grew its holdings in MediaAlpha by 208.4% during the second quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock worth $18,920,000 after purchasing an additional 970,840 shares during the period. Divisadero Street Capital Management LP acquired a new stake in shares of MediaAlpha in the second quarter valued at approximately $7,956,000. Emerald Advisers LLC boosted its stake in shares of MediaAlpha by 51,407.5% during the 2nd quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock worth $7,882,000 after acquiring an additional 597,355 shares during the period. Clearline Capital LP increased its holdings in shares of MediaAlpha by 1,255.3% during the 2nd quarter. Clearline Capital LP now owns 576,728 shares of the company’s stock worth $7,596,000 after acquiring an additional 534,176 shares during the last quarter. Finally, Ghisallo Capital Management LLC raised its stake in MediaAlpha by 535.3% in the 2nd quarter. Ghisallo Capital Management LLC now owns 487,500 shares of the company’s stock valued at $6,420,000 after acquiring an additional 410,764 shares during the period. Institutional investors and hedge funds own 64.39% of the company’s stock.

Insiders Place Their Bets

In other news, insider Eugene Nonko sold 72,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total value of $1,488,240.00. Following the completion of the transaction, the insider now directly owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. The trade was a 4.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.53% of the company’s stock.

Wall Street Analyst Weigh In

MAX has been the topic of several research reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $26.00 price objective (up from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. The Goldman Sachs Group upped their price target on shares of MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, MediaAlpha presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.14.

MediaAlpha Stock Performance

MAX stock opened at $11.74 on Friday. MediaAlpha, Inc. has a 52 week low of $9.13 and a 52 week high of $25.78. The company has a market capitalization of $778.36 million, a PE ratio of 69.06 and a beta of 1.23. The company’s 50-day simple moving average is $17.06 and its 200 day simple moving average is $16.78.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The firm had revenue of $259.13 million for the quarter, compared to analyst estimates of $246.96 million. On average, analysts forecast that MediaAlpha, Inc. will post 0.42 EPS for the current year.

About MediaAlpha

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.