MediaAlpha, Inc. $MAX Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC reduced its holdings in MediaAlpha, Inc. (NYSE:MAX) by 56.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,666 shares of the company’s stock after selling 75,891 shares during the quarter. Squarepoint Ops LLC’s holdings in MediaAlpha were worth $642,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Tower Research Capital LLC TRC raised its position in MediaAlpha by 28.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock worth $61,000 after acquiring an additional 1,213 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of MediaAlpha during the 2nd quarter worth $62,000. Semanteon Capital Management LP purchased a new position in shares of MediaAlpha in the 2nd quarter valued at about $110,000. Pallas Capital Advisors LLC acquired a new stake in shares of MediaAlpha in the second quarter valued at about $111,000. Finally, Invesco Ltd. acquired a new stake in shares of MediaAlpha in the second quarter valued at about $117,000. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MAX has been the subject of a number of research analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $15.00 target price on shares of MediaAlpha in a report on Thursday, October 30th. Keefe, Bruyette & Woods raised their price objective on MediaAlpha from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Wall Street Zen raised MediaAlpha from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 1st. The Goldman Sachs Group set a $13.50 target price on MediaAlpha in a research report on Friday, October 31st. Finally, JPMorgan Chase & Co. upped their target price on MediaAlpha from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, MediaAlpha has a consensus rating of “Moderate Buy” and an average price target of $17.25.

MediaAlpha Price Performance

Shares of MediaAlpha stock opened at $12.70 on Wednesday. MediaAlpha, Inc. has a 1 year low of $7.33 and a 1 year high of $13.92. The company has a market capitalization of $827.79 million, a P/E ratio of -423.26 and a beta of 1.21. The business has a 50 day moving average price of $12.40 and a 200 day moving average price of $11.49.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, October 29th. The company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $306.51 million for the quarter, compared to analysts’ expectations of $283.30 million. MediaAlpha had a negative return on equity of 71.02% and a negative net margin of 0.10%.MediaAlpha’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.17 EPS. As a group, research analysts expect that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

Insider Buying and Selling at MediaAlpha

In related news, General Counsel Jeffrey B. Coyne sold 5,000 shares of MediaAlpha stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $13.16, for a total transaction of $65,800.00. Following the completion of the sale, the general counsel owned 441,783 shares in the company, valued at approximately $5,813,864.28. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven Yi sold 8,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $12.82, for a total transaction of $102,560.00. Following the completion of the transaction, the insider owned 2,879,330 shares in the company, valued at approximately $36,913,010.60. This trade represents a 0.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 231,000 shares of company stock valued at $2,939,984. 11.53% of the stock is owned by company insiders.

About MediaAlpha

MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company’s platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.

The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.