MediaAlpha, Inc. (NYSE:MAX) Stock Position Raised by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 28.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 690,574 shares of the company’s stock after buying an additional 154,637 shares during the period. Geode Capital Management LLC owned 1.04% of MediaAlpha worth $12,509,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Barclays PLC grew its position in shares of MediaAlpha by 423.2% during the 3rd quarter. Barclays PLC now owns 66,525 shares of the company’s stock valued at $1,204,000 after buying an additional 53,809 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in MediaAlpha in the 3rd quarter worth about $707,000. XTX Topco Ltd bought a new position in MediaAlpha in the 3rd quarter worth about $409,000. Zacks Investment Management bought a new position in MediaAlpha in the 3rd quarter worth about $376,000. Finally, State Street Corp grew its position in MediaAlpha by 7.0% in the 3rd quarter. State Street Corp now owns 547,906 shares of the company’s stock worth $9,923,000 after purchasing an additional 35,960 shares during the last quarter. Institutional investors own 64.39% of the company’s stock.

Insiders Place Their Bets

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now owns 1,550,990 shares in the company, valued at $32,058,963.30. This represents a 4.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.53% of the company’s stock.

MediaAlpha Price Performance

MediaAlpha stock opened at $11.16 on Tuesday. The firm has a 50 day simple moving average of $13.32 and a 200-day simple moving average of $15.20. The stock has a market capitalization of $743.97 million, a PE ratio of 65.65 and a beta of 1.10. MediaAlpha, Inc. has a 12-month low of $10.21 and a 12-month high of $25.78.

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

Wall Street Analyst Weigh In

Several research firms have commented on MAX. The Goldman Sachs Group upped their target price on shares of MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Keefe, Bruyette & Woods decreased their target price on shares of MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada decreased their target price on shares of MediaAlpha from $23.00 to $20.00 and set an “outperform” rating for the company in a research 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.14.

MediaAlpha Company Profile

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.