Barclays PLC Purchases 53,809 Shares of MediaAlpha, Inc. (NYSE:MAX)

Barclays PLC increased its position in MediaAlpha, Inc. (NYSE:MAX) by 423.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,525 shares of the company’s stock after purchasing an additional 53,809 shares during the period. Barclays PLC’s holdings in MediaAlpha were worth $1,204,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Quarry LP grew its holdings in shares of MediaAlpha by 157.8% during the third quarter. Quarry LP now owns 2,820 shares of the company’s stock valued at $51,000 after buying an additional 1,726 shares during the last quarter. Point72 DIFC Ltd bought a new position in MediaAlpha in the 2nd quarter valued at about $65,000. Sandia Investment Management LP acquired a new position in MediaAlpha during the 2nd quarter valued at about $79,000. nVerses Capital LLC bought a new stake in MediaAlpha during the 3rd quarter worth approximately $116,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of MediaAlpha in the second quarter worth approximately $134,000. Institutional investors and hedge funds own 64.39% of the company’s stock.

MediaAlpha Stock Performance

MAX opened at $11.22 on Tuesday. MediaAlpha, Inc. has a fifty-two week low of $10.21 and a fifty-two week high of $25.78. The firm has a 50-day moving average of $11.69 and a 200 day moving average of $14.86. The firm has a market cap of $747.97 million, a P/E ratio of 66.00 and a beta of 1.12.

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

Insiders Place Their Bets

In other news, insider Eugene Nonko sold 72,000 shares of MediaAlpha stock in a transaction on Wednesday, October 30th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 11.53% of the company’s stock.

Analyst Ratings Changes

MAX has been the topic of several analyst reports. Royal Bank of Canada cut their target price on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. The Goldman Sachs Group raised their price target on shares of MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. cut their price target on shares of MediaAlpha from $25.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Wednesday, December 11th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

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.