Los Angeles Capital Management LLC Purchases 26,420 Shares of MediaAlpha, Inc. (NYSE:MAX)

Los Angeles Capital Management LLC grew its holdings in MediaAlpha, Inc. (NYSE:MAX) by 91.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 55,183 shares of the company’s stock after buying an additional 26,420 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.08% of MediaAlpha worth $999,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Westfield Capital Management Co. LP bought a new stake in shares of MediaAlpha during the first quarter valued at approximately $364,000. Vanguard Group Inc. increased its stake in shares of MediaAlpha by 15.0% in the 1st quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock valued at $43,168,000 after buying an additional 276,641 shares during the period. Acadian Asset Management LLC bought a new stake in shares of MediaAlpha during the first quarter worth $1,118,000. Hillsdale Investment Management Inc. acquired a new position in shares of MediaAlpha during the first quarter valued at $4,062,000. Finally, EntryPoint Capital LLC bought a new position in MediaAlpha in the first quarter valued at about $136,000. Institutional investors and hedge funds own 64.39% of the company’s stock.

Wall Street Analyst Weigh In

MAX has been the topic of a number of research reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $26.00 target price (up from $25.00) on shares of MediaAlpha in a research report on Thursday, August 1st. The Goldman Sachs Group increased their price objective on shares of MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 1st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.14.

MediaAlpha Price Performance

Shares of NYSE:MAX opened at $11.74 on Friday. The firm’s 50 day simple moving average is $17.06 and its 200 day simple moving average is $16.78. MediaAlpha, Inc. has a fifty-two week low of $9.13 and a fifty-two week high of $25.78. The company has a market capitalization of $778.36 million, a price-to-earnings ratio of 69.06 and a beta of 1.23.

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

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of MediaAlpha 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 transaction, the insider now owns 1,550,990 shares of the company’s stock, valued at approximately $32,058,963.30. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 11.53% of the company’s stock.

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.