Jacobs Asset Management LLC Has $8.60 Million Stock Position in MediaAlpha, Inc. $MAX

Jacobs Asset Management LLC increased its stake in shares of MediaAlpha, Inc. (NYSE:MAX) by 31.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 924,443 shares of the company’s stock after purchasing an additional 219,144 shares during the quarter. MediaAlpha makes up 5.1% of Jacobs Asset Management LLC’s holdings, making the stock its 5th largest position. Jacobs Asset Management LLC’s holdings in MediaAlpha were worth $8,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its stake in MediaAlpha by 2.3% in the second quarter. Hsbc Holdings PLC now owns 51,550 shares of the company’s stock valued at $561,000 after purchasing an additional 1,144 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of MediaAlpha by 28.0% during the second quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock valued at $61,000 after buying an additional 1,213 shares during the last quarter. Quarry LP lifted its position in shares of MediaAlpha by 43.3% during the third quarter. Quarry LP now owns 4,087 shares of the company’s stock valued at $47,000 after buying an additional 1,234 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of MediaAlpha by 13.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,757 shares of the company’s stock valued at $140,000 after buying an additional 1,510 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of MediaAlpha by 5,900.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock worth $28,000 after buying an additional 2,124 shares during the last quarter. Institutional investors own 64.39% of the company’s stock.

Insider Buying and Selling

In other MediaAlpha news, Director Eugene Nonko sold 27,972 shares of the firm’s stock in a transaction on Monday, April 27th. The shares were sold at an average price of $10.04, for a total value of $280,838.88. Following the completion of the transaction, the director owned 987,384 shares of the company’s stock, valued at approximately $9,913,335.36. This trade represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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, insider Steven Yi sold 96,000 shares of MediaAlpha stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $12.90, for a total transaction of $1,238,400.00. Following the sale, the insider owned 2,759,690 shares of the company’s stock, valued at $35,600,001. The trade was a 3.36% 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. Insiders have sold a total of 565,015 shares of company stock worth $6,394,745 in the last 90 days. 14.65% of the stock is currently owned by company insiders.

MediaAlpha Stock Performance

Shares of MAX stock opened at $13.13 on Friday. MediaAlpha, Inc. has a fifty-two week low of $7.09 and a fifty-two week high of $14.70. The firm has a market capitalization of $818.72 million, a price-to-earnings ratio of 20.52 and a beta of 1.08. The stock’s 50-day simple moving average is $11.04 and its 200-day simple moving average is $10.14.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The company had revenue of $310.00 million during the quarter, compared to analysts’ expectations of $298.91 million. MediaAlpha had a net margin of 3.37% and a negative return on equity of 147.82%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.04) earnings per share. As a group, equities analysts forecast that MediaAlpha, Inc. will post 0.97 earnings per share for the current year.

Wall Street Analyst Weigh In

MAX has been the subject of several recent analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Zacks Research lowered shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Wall Street Zen raised shares of MediaAlpha from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. JPMorgan Chase & Co. upped their price target on MediaAlpha from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Texas Capital upgraded MediaAlpha to a “strong-buy” rating in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.64.

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.