MediaAlpha, Inc. (NYSE:MAX) Position Increased by Norden Group LLC

Norden Group LLC grew its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 1,767.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 263,592 shares of the company’s stock after purchasing an additional 249,475 shares during the period. Norden Group LLC owned 0.40% of MediaAlpha worth $5,369,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MAX. Hsbc Holdings PLC acquired a new stake in MediaAlpha during the third quarter worth about $172,000. Mariner LLC raised its position in shares of MediaAlpha by 449.2% during the 3rd quarter. Mariner LLC now owns 76,060 shares of the company’s stock worth $628,000 after purchasing an additional 62,210 shares during the period. Baker Tilly Wealth Management LLC lifted its holdings in shares of MediaAlpha by 13.7% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock worth $154,000 after purchasing an additional 1,660 shares during the last quarter. Portside Wealth Group LLC boosted its position in MediaAlpha by 9.1% during the 4th quarter. Portside Wealth Group LLC now owns 18,755 shares of the company’s stock valued at $209,000 after purchasing an additional 1,567 shares during the period. Finally, Picton Mahoney Asset Management grew its stake in MediaAlpha by 211.2% during the 4th quarter. Picton Mahoney Asset Management now owns 20,480 shares of the company’s stock worth $229,000 after buying an additional 13,900 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors.

MediaAlpha Trading Down 1.3 %

NYSE MAX opened at $12.52 on Thursday. MediaAlpha, Inc. has a 12 month low of $7.62 and a 12 month high of $25.78. The company’s 50 day simple moving average is $17.78 and its 200 day simple moving average is $16.63.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.09. The firm had revenue of $126.60 million for the quarter, compared to analyst estimates of $111.17 million. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.23) earnings per share. As a group, analysts predict that MediaAlpha, Inc. will post -0.09 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MAX. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $25.00 price target (up previously from $19.00) on shares of MediaAlpha in a report on Wednesday, May 15th. Royal Bank of Canada boosted their target price on shares of MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. TD Cowen lowered shares of MediaAlpha from a “buy” rating to a “hold” rating and dropped their price target for the company from $19.00 to $13.00 in a research note on Wednesday, June 26th. JPMorgan Chase & Co. boosted their price objective on MediaAlpha from $18.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Canaccord Genuity Group increased their price objective on MediaAlpha from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.43.

Insiders Place Their Bets

In other news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $19.00, for a total transaction of $49,206,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of MediaAlpha stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $19.00, for a total value of $95,003,800.00. Following the transaction, the insider now directly owns 17,856,614 shares in the company, valued at approximately $339,275,666. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $19.00, for a total value of $49,206,200.00. The disclosure for this sale can be found here. 11.53% of the stock is owned by company insiders.

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.