GSA Capital Partners LLP Acquires New Stake in MediaAlpha, Inc. (NYSE:MAX)

GSA Capital Partners LLP bought a new position in MediaAlpha, Inc. (NYSE:MAX) in the third quarter, Holdings Channel.com reports. The fund bought 44,418 shares of the company’s stock, valued at approximately $804,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in shares of MediaAlpha in the 2nd quarter worth $65,000. Sandia Investment Management LP bought a new stake in MediaAlpha in the second quarter worth about $79,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in MediaAlpha by 354.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock worth $114,000 after acquiring an additional 6,728 shares in the last quarter. nVerses Capital LLC acquired a new stake in MediaAlpha in the 3rd quarter valued at about $116,000. Finally, The Manufacturers Life Insurance Company bought a new position in shares of MediaAlpha during the 2nd quarter valued at about $134,000. 64.39% of the stock is owned by institutional investors.

Insider Activity at MediaAlpha

In other news, insider Eugene Nonko sold 72,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was 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 in the company, valued at $32,058,963.30. This represents a 4.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 11.53% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently commented on MAX shares. The Goldman Sachs Group boosted their target price on shares of MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $26.00 price target (up previously from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.14.

MediaAlpha Price Performance

MediaAlpha stock opened at $11.74 on Friday. MediaAlpha, Inc. has a fifty-two week low of $9.13 and a fifty-two week high of $25.78. The firm’s 50 day simple moving average is $17.06 and its 200-day simple moving average is $16.75. The company has a market cap of $778.36 million, a P/E ratio of 69.06 and a beta of 1.23.

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

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.