Goldman Sachs Group Inc. trimmed its position in shares of MediaAlpha, Inc. (NYSE:MAX – Free Report) by 8.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 736,531 shares of the company’s stock after selling 68,399 shares during the quarter. Goldman Sachs Group Inc. owned approximately 1.10% of MediaAlpha worth $6,806,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of MediaAlpha by 8,775.8% during the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company’s stock worth $27,000 after buying an additional 2,896 shares during the last quarter. Virtus Fund Advisers LLC purchased a new position in MediaAlpha during the 4th quarter valued at about $35,000. Man Group plc raised its position in MediaAlpha by 30.0% during the fourth quarter. Man Group plc now owns 18,165 shares of the company’s stock worth $205,000 after acquiring an additional 4,187 shares during the last quarter. Swiss National Bank lifted its holdings in shares of MediaAlpha by 8.3% in the first quarter. Swiss National Bank now owns 69,400 shares of the company’s stock valued at $641,000 after purchasing an additional 5,300 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC lifted its holdings in shares of MediaAlpha by 17.6% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 42,843 shares of the company’s stock valued at $484,000 after purchasing an additional 6,398 shares in the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.
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Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on MAX. Keefe, Bruyette & Woods lifted their price objective on MediaAlpha from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, September 5th. Wall Street Zen cut MediaAlpha from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $18.25.
Check Out Our Latest Stock Report on MediaAlpha
MediaAlpha Trading Up 0.8%
MediaAlpha stock opened at $12.98 on Monday. The stock has a fifty day moving average price of $10.71 and a 200 day moving average price of $9.98. MediaAlpha, Inc. has a 52 week low of $7.33 and a 52 week high of $20.91. The firm has a market capitalization of $881.86 million, a P/E ratio of -108.16 and a beta of 1.19.
MediaAlpha (NYSE:MAX – Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $251.62 million for the quarter, compared to analyst estimates of $248.80 million. MediaAlpha had a negative return on equity of 62.53% and a negative net margin of 0.61%.The firm’s quarterly revenue was up 41.1% on a year-over-year basis. During the same period last year, the company earned $0.07 EPS. As a group, equities analysts predict that MediaAlpha, Inc. will post 0.48 EPS for the current year.
Insider Activity at MediaAlpha
In related news, Director Kathy P. Vrabeck purchased 31,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were bought at an average price of $9.60 per share, with a total value of $297,600.00. Following the completion of the purchase, the director directly owned 129,657 shares in the company, valued at approximately $1,244,707.20. This trade represents a 31.42% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Keith Cramer sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $9.73, for a total transaction of $194,600.00. Following the sale, the executive directly owned 167,200 shares of the company’s stock, valued at $1,626,856. This represents a 10.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,669 shares of company stock valued at $297,873 in the last ninety days. 11.53% of the stock is currently owned by company insiders.
About MediaAlpha
(Free Report)
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.
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