Franklin Resources Inc. Has $2.43 Million Position in MediaAlpha, Inc. (NYSE:MAX)

Franklin Resources Inc. boosted its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 100.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 128,604 shares of the company’s stock after acquiring an additional 64,331 shares during the period. Franklin Resources Inc. owned 0.19% of MediaAlpha worth $2,432,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP grew its stake in shares of MediaAlpha by 157.8% during the third quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after purchasing an additional 1,726 shares during the period. Point72 DIFC Ltd bought a new position in MediaAlpha during the second quarter worth about $65,000. Sandia Investment Management LP bought a new position in MediaAlpha during the second quarter worth about $79,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of MediaAlpha by 354.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock worth $114,000 after buying an additional 6,728 shares during the period. Finally, nVerses Capital LLC bought a new stake in shares of MediaAlpha in the 3rd quarter valued at about $116,000. Institutional investors own 64.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MAX. Royal Bank of Canada reduced their price objective on shares of MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. The Goldman Sachs Group boosted their price target on shares of MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods reduced their target price on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, December 11th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, MediaAlpha presently has an average rating of “Moderate Buy” and a consensus target price of $24.14.

MediaAlpha Stock Up 5.1 %

Shares of NYSE:MAX opened at $11.41 on Friday. The firm has a market cap of $760.64 million, a price-to-earnings ratio of 67.12 and a beta of 1.10. MediaAlpha, Inc. has a 12 month low of $10.21 and a 12 month high of $25.78. The company’s fifty day simple moving average is $13.48 and its 200 day simple moving average is $15.28.

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

Insider Activity at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of MediaAlpha stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total value of $1,488,240.00. Following the sale, the insider now directly owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. The trade was a 4.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.53% of the stock is owned by insiders.

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.