Y Intercept Hong Kong Ltd Cuts Holdings in MediaAlpha, Inc. $MAX

Y Intercept Hong Kong Ltd lowered its position in MediaAlpha, Inc. (NYSE:MAX) by 24.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 158,170 shares of the company’s stock after selling 52,182 shares during the quarter. Y Intercept Hong Kong Ltd owned 0.25% of MediaAlpha worth $1,471,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in MAX. Caitong International Asset Management Co. Ltd increased its stake in 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 worth $28,000 after acquiring an additional 2,124 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in shares of MediaAlpha by 9,917.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock valued at $36,000 after purchasing an additional 2,777 shares in the last quarter. Quarry LP grew its holdings in shares of MediaAlpha by 43.3% during the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after purchasing an additional 1,234 shares during the period. Strs Ohio purchased a new stake in shares of MediaAlpha during the 4th quarter worth about $49,000. Finally, Tower Research Capital LLC TRC increased its position in MediaAlpha by 28.0% during the 2nd 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. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on MAX shares. Weiss Ratings upgraded shares of MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 1st. Zacks Research downgraded shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Keefe, Bruyette & Woods increased their price objective on shares of MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of MediaAlpha from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Finally, Wall Street Zen lowered shares of MediaAlpha from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.64.

Insiders Place Their Bets

In other MediaAlpha news, insider Steven Yi sold 26,467 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $14.07, for a total value of $372,390.69. Following the transaction, the insider owned 2,715,969 shares in the company, valued at $38,213,683.83. The trade was a 0.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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, Director Eugene Nonko sold 3,282 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $13.78, for a total transaction of $45,225.96. Following the completion of the transaction, the director directly owned 907,100 shares of the company’s stock, valued at approximately $12,499,838. The trade was a 0.36% decrease in their ownership of the stock. 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. Over the last ninety days, insiders have sold 743,424 shares of company stock valued at $8,179,296. Company insiders own 14.65% of the company’s stock.

MediaAlpha Price Performance

NYSE MAX traded down $0.10 on Friday, reaching $13.36. The company had a trading volume of 489,912 shares, compared to its average volume of 769,426. The firm has a market capitalization of $833.06 million, a PE ratio of 20.88 and a beta of 1.08. MediaAlpha, Inc. has a 1 year low of $7.09 and a 1 year high of $14.39. The firm has a 50-day moving average of $10.03 and a 200-day moving average of $10.06.

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

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.