Algert Global LLC Has $2.27 Million Position in MediaAlpha, Inc. (NYSE:MAX)

Algert Global LLC grew its position in MediaAlpha, Inc. (NYSE:MAX) by 917.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,271 shares of the company’s stock after acquiring an additional 112,962 shares during the period. Algert Global LLC’s holdings in MediaAlpha were worth $2,269,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Point72 DIFC Ltd bought a new position in MediaAlpha during the second quarter worth about $65,000. Sandia Investment Management LP acquired a new stake in shares of MediaAlpha in the second quarter valued at approximately $79,000. nVerses Capital LLC bought a new position in shares of MediaAlpha during the 3rd quarter worth approximately $116,000. Lazard Asset Management LLC acquired a new position in shares of MediaAlpha during the 1st quarter worth approximately $165,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MediaAlpha by 354.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock valued at $114,000 after acquiring an additional 6,728 shares during the period. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on MAX shares. The Goldman Sachs Group lifted their price objective on shares of MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $26.00 target price (up previously from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.14.

MediaAlpha Stock Performance

Shares of MediaAlpha stock opened at $12.73 on Wednesday. The firm has a 50-day moving average of $16.38 and a 200-day moving average of $16.29. MediaAlpha, Inc. has a 52-week low of $9.69 and a 52-week high of $25.78. The stock has a market cap of $848.58 million, a PE ratio of 74.88 and a beta of 1.23.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $246.96 million. Equities research analysts predict that MediaAlpha, Inc. will post 0.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Eugene Nonko sold 72,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the completion of the sale, the insider now owns 1,550,990 shares of the company’s stock, valued at $32,058,963.30. This represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 11.53% of the stock is currently 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.