Quantbot Technologies LP Boosts Stock Holdings in MediaAlpha, Inc. (NYSE:MAX)

Quantbot Technologies LP lifted its holdings in MediaAlpha, Inc. (NYSE:MAX) by 37.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 26,096 shares of the company’s stock after purchasing an additional 7,154 shares during the period. Quantbot Technologies LP’s holdings in MediaAlpha were worth $473,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MAX. Point72 DIFC Ltd bought a new stake in MediaAlpha during the 2nd quarter valued at $65,000. Sandia Investment Management LP purchased a new stake in shares of MediaAlpha during the second quarter valued at $79,000. nVerses Capital LLC purchased a new stake in MediaAlpha during the 3rd quarter valued at about $116,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in MediaAlpha by 354.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock worth $114,000 after buying an additional 6,728 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of MediaAlpha in the second quarter worth $134,000. 64.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, 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 report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, MediaAlpha presently has an average rating of “Moderate Buy” and an average price target of $25.14.

Insider Activity

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

MediaAlpha Stock Performance

MAX opened at $11.45 on Wednesday. The company has a fifty day moving average of $16.00 and a two-hundred day moving average of $16.12. The stock has a market capitalization of $762.92 million, a price-to-earnings ratio of 67.35 and a beta of 1.10. MediaAlpha, Inc. has a fifty-two week low of $9.96 and a fifty-two week high of $25.78.

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

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.