Quantinno Capital Management LP Buys 64,526 Shares of MediaAlpha, Inc. $MAX

Quantinno Capital Management LP raised its stake in MediaAlpha, Inc. (NYSE:MAX) by 150.9% in the 1st quarter, Holdings Channel.com reports. The fund owned 107,274 shares of the company’s stock after buying an additional 64,526 shares during the quarter. Quantinno Capital Management LP’s holdings in MediaAlpha were worth $998,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Millennium Management LLC grew its stake in 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. lifted its holdings in shares of MediaAlpha by 1,261.9% during the 3rd quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock worth $8,089,000 after acquiring an additional 658,625 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of MediaAlpha during the 2nd quarter worth approximately $4,268,000. Lighthouse Investment Partners LLC increased its stake in MediaAlpha by 831.7% in the third 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. Finally, JPMorgan Chase & Co. increased its stake in MediaAlpha by 29.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company’s stock valued at $17,714,000 after acquiring an additional 309,455 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors.

Insider Transactions at MediaAlpha

In related news, CRO Keith Cramer sold 13,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $9.47, for a total value of $123,110.00. Following the sale, the executive owned 280,528 shares of the company’s stock, valued at $2,656,600.16. The trade was a 4.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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, Director Eugene Nonko sold 25,352 shares of the firm’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $13.86, for a total value of $351,378.72. Following the transaction, the director directly owned 1,137,304 shares of the company’s stock, valued at approximately $15,763,033.44. This represents a 2.18% 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. Over the last 90 days, insiders have sold 519,726 shares of company stock worth $6,540,242. Company insiders own 14.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MAX shares. Weiss Ratings upgraded MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods boosted their target price on MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Canaccord Genuity Group raised their price target on shares of MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. The Goldman Sachs Group upped their price objective on shares of MediaAlpha from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of MediaAlpha from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MediaAlpha has a consensus rating of “Moderate Buy” and a consensus target price of $13.86.

MediaAlpha Price Performance

Shares of NYSE MAX opened at $13.15 on Monday. The company has a 50 day simple moving average of $12.37 and a 200 day simple moving average of $10.30. MediaAlpha, Inc. has a 1 year low of $7.09 and a 1 year high of $14.70. The firm has a market cap of $805.81 million, a PE ratio of 8.12 and a beta of 1.11.

MediaAlpha (NYSE:MAX) last posted its earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.42. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. The firm had revenue of $316.88 million for the quarter, compared to analyst estimates of $300.87 million. As a group, research analysts anticipate that MediaAlpha, Inc. will post 0.97 earnings per share for the current fiscal year.

MediaAlpha 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.