Cannell & Co. Has $1.29 Million Stake in MediaAlpha, Inc. (NYSE:MAX)

Cannell & Co. trimmed its stake in MediaAlpha, Inc. (NYSE:MAX) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 115,480 shares of the company’s stock after selling 2,225 shares during the period. Cannell & Co. owned about 0.18% of MediaAlpha worth $1,288,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MAX. Alliance Wealth Advisors LLC UT acquired a new stake in shares of MediaAlpha during the 3rd quarter valued at about $84,000. Allspring Global Investments Holdings LLC boosted its position in shares of MediaAlpha by 305.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 16,404 shares of the company’s stock valued at $135,000 after acquiring an additional 12,355 shares in the last quarter. Baker Tilly Wealth Management LLC boosted its position in shares of MediaAlpha by 13.7% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock valued at $154,000 after acquiring an additional 1,660 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of MediaAlpha during the 3rd quarter valued at about $162,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of MediaAlpha during the 3rd quarter valued at about $172,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $19.85, for a total value of $58,557,500.00. Following the completion of the transaction, the insider now directly owns 50,000 shares of the company’s stock, valued at $992,500. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 11.53% of the company’s stock.

MediaAlpha Stock Up 4.0 %

Shares of NYSE MAX opened at $21.06 on Thursday. MediaAlpha, Inc. has a 1-year low of $5.08 and a 1-year high of $22.81. The company has a 50-day moving average of $19.78 and a two-hundred day moving average of $14.16.

MediaAlpha (NYSE:MAX) last announced its earnings results on Tuesday, February 20th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.16. The company had revenue of $117.17 million during the quarter, compared to the consensus estimate of $111.36 million. As a group, sell-side analysts forecast that MediaAlpha, Inc. will post -0.4 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MAX shares. TD Cowen started coverage on shares of MediaAlpha in a report on Wednesday, January 10th. They set an “outperform” rating and a $15.00 price target for the company. BMO Capital Markets raised shares of MediaAlpha from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $9.00 to $28.00 in a report on Monday, February 26th. Royal Bank of Canada lifted their price target on shares of MediaAlpha from $12.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, February 21st. Finally, Canaccord Genuity Group lifted their price target on shares of MediaAlpha from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.20.

About MediaAlpha

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.