Triad Investment Management Increases Position in MediaAlpha, Inc. $MAX

Triad Investment Management lifted its stake in MediaAlpha, Inc. (NYSE:MAX) by 21.2% in the 1st quarter, HoldingsChannel reports. The fund owned 333,864 shares of the company’s stock after purchasing an additional 58,427 shares during the quarter. MediaAlpha comprises 3.4% of Triad Investment Management’s investment portfolio, making the stock its 11th largest position. Triad Investment Management’s holdings in MediaAlpha were worth $3,105,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Hsbc Holdings PLC boosted its position in MediaAlpha by 2.3% during 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 in the last quarter. Tower Research Capital LLC TRC raised its holdings in MediaAlpha by 28.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock worth $61,000 after purchasing an additional 1,213 shares in the last quarter. Quarry LP raised its holdings in MediaAlpha by 43.3% in the third quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after purchasing an additional 1,234 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of MediaAlpha by 13.4% during the second 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 during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of MediaAlpha by 5,900.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock valued at $28,000 after buying an additional 2,124 shares during the last quarter. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

MediaAlpha Price Performance

NYSE MAX opened at $14.17 on Wednesday. The stock’s fifty day moving average price is $10.74 and its 200 day moving average price is $10.10. MediaAlpha, Inc. has a 1 year low of $7.09 and a 1 year high of $14.70. The company has a market cap of $883.44 million, a price-to-earnings ratio of 22.14 and a beta of 1.08.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). MediaAlpha had a negative return on equity of 147.82% and a net margin of 3.37%.The firm had revenue of $310.00 million for the quarter, compared to analyst estimates of $298.91 million. During the same period in the prior year, the firm posted ($0.04) EPS. The business’s revenue was up 17.3% compared to the same quarter last year. Research analysts expect that MediaAlpha, Inc. will post 0.97 earnings per share for the current year.

Insider Transactions at MediaAlpha

In related news, Director Eugene Nonko sold 27,972 shares of MediaAlpha stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $10.04, for a total transaction of $280,838.88. Following the completion of the sale, the director owned 987,384 shares of the company’s stock, valued at $9,913,335.36. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 dated Wednesday, July 1st. The stock was sold at an average price of $12.90, for a total value of $1,238,400.00. Following the sale, the insider directly owned 2,759,690 shares of the company’s stock, valued at $35,600,001. This trade represents a 3.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 sold 565,015 shares of company stock worth $6,394,745 over the last three months. Corporate insiders own 14.65% of the company’s stock.

MediaAlpha Company 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.