MediaAlpha, Inc. (NYSE:MAX) Shares Bought by Shay Capital LLC

Shay Capital LLC raised its position in MediaAlpha, Inc. (NYSE:MAX) by 127.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 447,500 shares of the company’s stock after purchasing an additional 250,500 shares during the period. MediaAlpha accounts for 0.8% of Shay Capital LLC’s investment portfolio, making the stock its 28th largest holding. Shay Capital LLC owned approximately 0.67% of MediaAlpha worth $5,052,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MAX. JPMorgan Chase & Co. boosted its holdings in MediaAlpha by 655.8% in the third quarter. JPMorgan Chase & Co. now owns 80,071 shares of the company’s stock valued at $1,450,000 after purchasing an additional 69,477 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of MediaAlpha by 4.3% in the 4th quarter. Rhumbline Advisers now owns 43,431 shares of the company’s stock valued at $490,000 after buying an additional 1,782 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of MediaAlpha by 100.1% in the 3rd quarter. Franklin Resources Inc. now owns 128,604 shares of the company’s stock valued at $2,432,000 after buying an additional 64,331 shares in the last quarter. Vanguard Group Inc. raised its stake in MediaAlpha by 4.9% during the 4th quarter. Vanguard Group Inc. now owns 3,623,344 shares of the company’s stock worth $40,908,000 after acquiring an additional 169,654 shares in the last quarter. Finally, Blair William & Co. IL purchased a new stake in MediaAlpha in the fourth quarter valued at $599,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MAX has been the topic of several research reports. The Goldman Sachs Group dropped their price objective on MediaAlpha from $14.00 to $12.50 and set a “buy” rating on the stock in a report on Monday, April 14th. Keefe, Bruyette & Woods dropped their price target on MediaAlpha from $19.00 to $16.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Royal Bank of Canada reduced their price objective on MediaAlpha from $20.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Canaccord Genuity Group lowered their target price on shares of MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of MediaAlpha from $10.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, May 1st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $17.21.

MediaAlpha Stock Up 1.7%

MAX opened at $10.57 on Friday. MediaAlpha, Inc. has a 52 week low of $7.33 and a 52 week high of $20.91. The business has a 50 day moving average price of $8.95 and a two-hundred day moving average price of $10.78. The company has a market cap of $708.51 million, a PE ratio of 62.18 and a beta of 1.12.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The company had revenue of $264.31 million for the quarter, compared to analysts’ expectations of $236.07 million. During the same quarter last year, the company earned ($0.02) EPS. MediaAlpha’s revenue for the quarter was up 108.7% compared to the same quarter last year. As a group, sell-side analysts expect that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

MediaAlpha 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.