Aigen Investment Management LP Trims Stock Holdings in MediaAlpha, Inc. (NYSE:MAX)

Aigen Investment Management LP reduced its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 21.7% in the third quarter, Holdings Channel.com reports. The fund owned 10,140 shares of the company’s stock after selling 2,809 shares during the quarter. Aigen Investment Management LP’s holdings in MediaAlpha were worth $184,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Point72 DIFC Ltd purchased a new stake in MediaAlpha in the second quarter worth $65,000. Sandia Investment Management LP purchased a new position in MediaAlpha in the 2nd quarter worth about $79,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position 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 buying an additional 6,728 shares during the period. nVerses Capital LLC bought a new stake in shares of MediaAlpha during the third quarter valued at approximately $116,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of MediaAlpha in the second quarter valued at approximately $134,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

MediaAlpha Trading Down 5.1 %

Shares of NYSE:MAX opened at $11.74 on Friday. MediaAlpha, Inc. has a 12-month low of $9.13 and a 12-month high of $25.78. The business’s fifty day simple moving average is $17.06 and its 200-day simple moving average is $16.75. The company has a market capitalization of $778.36 million, a PE ratio of 69.06 and a beta of 1.23.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data 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. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The company had revenue of $259.13 million for the quarter, compared to the consensus estimate of $246.96 million. Research analysts predict that MediaAlpha, Inc. will post 0.42 EPS for the current year.

Insider Buying and Selling

In other news, insider Eugene Nonko sold 72,000 shares of the firm’s 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 sale, the insider now owns 1,550,990 shares of the company’s stock, valued at $32,058,963.30. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 11.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MAX. The Goldman Sachs Group lifted their target price on MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods restated 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. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $25.14.

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.