Barclays PLC Acquires 53,809 Shares of MediaAlpha, Inc. (NYSE:MAX)

Barclays PLC lifted its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 423.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 66,525 shares of the company’s stock after purchasing an additional 53,809 shares during the quarter. Barclays PLC owned 0.10% of MediaAlpha worth $1,204,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp increased its holdings in MediaAlpha by 15.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 84,155 shares of the company’s stock valued at $1,108,000 after buying an additional 11,503 shares during the period. Rhumbline Advisers increased its stake in MediaAlpha by 7.3% in the second quarter. Rhumbline Advisers now owns 36,751 shares of the company’s stock valued at $484,000 after acquiring an additional 2,511 shares during the last quarter. Victory Capital Management Inc. acquired a new position in MediaAlpha during the second quarter valued at approximately $477,000. Federated Hermes Inc. boosted its holdings in shares of MediaAlpha by 29.0% in the 2nd quarter. Federated Hermes Inc. now owns 121,566 shares of the company’s stock valued at $1,601,000 after purchasing an additional 27,306 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of MediaAlpha by 19.1% in the 2nd quarter. Renaissance Technologies LLC now owns 470,000 shares of the company’s stock valued at $6,190,000 after purchasing an additional 75,400 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MAX has been the topic of several research analyst reports. JPMorgan Chase & Co. reduced their price objective on MediaAlpha from $25.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday. The Goldman Sachs Group lifted 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. Keefe, Bruyette & Woods dropped their price objective on shares of MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a research note 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 on the stock in a research note on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

MediaAlpha Price Performance

Shares of MAX opened at $11.22 on Tuesday. The business has a 50-day moving average of $11.69 and a 200-day moving average of $14.86. 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 $747.97 million, a price-to-earnings ratio of 66.00 and a beta of 1.12.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $259.13 million for the quarter, compared to analyst estimates of $246.96 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. As a group, sell-side analysts anticipate that MediaAlpha, Inc. will post 0.42 EPS for the current year.

Insider Activity at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the firm’s 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 completion of the sale, the insider now directly owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. This trade represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.53% of the stock is owned by corporate insiders.

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.