Zacks Investment Management Makes New Investment in MediaAlpha, Inc. (NYSE:MAX)

Zacks Investment Management purchased a new stake in shares of MediaAlpha, Inc. (NYSE:MAX) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 20,765 shares of the company’s stock, valued at approximately $376,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of MediaAlpha by 5.1% during the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,890 shares of the company’s stock valued at $315,000 after purchasing an additional 1,150 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of MediaAlpha by 11.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock valued at $206,000 after purchasing an additional 1,213 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of MediaAlpha by 9.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock valued at $292,000 after purchasing an additional 1,235 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of MediaAlpha by 7.1% during the 2nd quarter. Hsbc Holdings PLC now owns 23,791 shares of the company’s stock valued at $312,000 after purchasing an additional 1,582 shares during the last quarter. Finally, Quarry LP increased its position in shares of MediaAlpha by 157.8% during the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock valued at $51,000 after purchasing an additional 1,726 shares during the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. 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 research report on Friday, November 1st. Royal Bank of Canada reduced their target price on shares of MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $24.71.

Insiders Place Their Bets

In other news, insider Eugene Nonko sold 72,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the completion of the transaction, the insider now directly owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. This represents a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.53% of the stock is currently owned by corporate insiders.

MediaAlpha Price Performance

MAX stock opened at $11.16 on Wednesday. MediaAlpha, Inc. has a 1-year low of $10.21 and a 1-year high of $25.78. The company has a market capitalization of $743.97 million, a price-to-earnings ratio of 65.65 and a beta of 1.10. The business has a 50 day simple moving average of $15.33 and a two-hundred day simple moving average of $15.88.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The business had revenue of $259.13 million during the quarter, compared to the consensus estimate of $246.96 million. Sell-side analysts anticipate that MediaAlpha, Inc. will post 0.42 EPS for the current fiscal year.

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.