MediaAlpha, Inc. $MAX Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 24.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 158,170 shares of the company’s stock after selling 52,182 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in MediaAlpha were worth $1,471,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Millennium Management LLC grew its position in shares of MediaAlpha by 680.9% during the third quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock worth $16,268,000 after buying an additional 1,246,493 shares in the last quarter. Victory Capital Management Inc. raised its holdings in MediaAlpha by 1,261.9% in the third quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock valued at $8,089,000 after acquiring an additional 658,625 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in MediaAlpha by 95.2% in the third quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company’s stock valued at $12,045,000 after acquiring an additional 516,195 shares in the last quarter. Lazard Asset Management LLC bought a new position in MediaAlpha during the 2nd quarter valued at $4,268,000. Finally, Lighthouse Investment Partners LLC boosted its stake in MediaAlpha by 831.7% during the 3rd quarter. Lighthouse Investment Partners LLC now owns 353,930 shares of the company’s stock valued at $4,028,000 after acquiring an additional 315,943 shares during the last quarter. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

MediaAlpha Price Performance

MAX traded down $0.10 during trading hours on Friday, hitting $13.36. 489,912 shares of the stock were exchanged, compared to its average volume of 769,426. The stock has a market cap of $833.06 million, a price-to-earnings ratio of 20.88 and a beta of 1.08. The stock has a 50-day simple moving average of $10.03 and a 200-day simple moving average of $10.06. MediaAlpha, Inc. has a 12 month low of $7.09 and a 12 month high of $14.39.

MediaAlpha (NYSE:MAX) last released its earnings results on Wednesday, April 29th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.04). The business had revenue of $310.00 million for the quarter, compared to the consensus estimate of $298.91 million. MediaAlpha had a net margin of 3.37% and a negative return on equity of 147.82%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.04) EPS. Sell-side analysts expect that MediaAlpha, Inc. will post 0.97 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on MAX shares. TD Cowen decreased their price objective on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, June 23rd. Wall Street Zen lowered shares of MediaAlpha from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Keefe, Bruyette & Woods increased their price target on shares of MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday. Texas Capital upgraded MediaAlpha to a “strong-buy” rating in a research note on Tuesday, June 9th. Finally, Weiss Ratings raised MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.64.

Insider Activity

In other MediaAlpha news, Director Eugene Nonko sold 49,844 shares of the firm’s stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $10.04, for a total value of $500,433.76. Following the transaction, the director owned 1,329,099 shares of the company’s stock, valued at $13,344,153.96. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Steven Yi sold 96,000 shares of MediaAlpha stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $12.90, for a total value of $1,238,400.00. Following the completion of the transaction, the insider owned 2,759,690 shares of the company’s stock, valued at approximately $35,600,001. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 743,424 shares of company stock valued at $8,179,296 over the last ninety days. Company insiders own 14.65% of the company’s stock.

MediaAlpha Company Profile

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.