Azzad Asset Management Inc. ADV Has $1.18 Million Position in MediaAlpha, Inc. (NYSE:MAX)

Azzad Asset Management Inc. ADV lessened its stake in shares of MediaAlpha, Inc. (NYSE:MAX) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 57,691 shares of the company’s stock after selling 1,629 shares during the period. Azzad Asset Management Inc. ADV owned 0.09% of MediaAlpha worth $1,175,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of MAX. Portside Wealth Group LLC boosted its position in shares of MediaAlpha by 9.1% in the fourth quarter. Portside Wealth Group LLC now owns 18,755 shares of the company’s stock valued at $209,000 after acquiring an additional 1,567 shares during the period. Baker Tilly Wealth Management LLC boosted its holdings in MediaAlpha by 13.7% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock valued at $154,000 after purchasing an additional 1,660 shares during the period. Tower Research Capital LLC TRC grew its position in MediaAlpha by 111.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock worth $50,000 after purchasing an additional 2,343 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of MediaAlpha by 125.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 24,535 shares of the company’s stock worth $500,000 after purchasing an additional 13,670 shares during the period. Finally, Picton Mahoney Asset Management raised its position in shares of MediaAlpha by 211.2% during the fourth quarter. Picton Mahoney Asset Management now owns 20,480 shares of the company’s stock valued at $229,000 after buying an additional 13,900 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MediaAlpha

In other news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $19.00, for a total transaction of $49,206,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $19.00, for a total value of $49,206,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $19.00, for a total transaction of $95,003,800.00. Following the transaction, the insider now owns 17,856,614 shares in the company, valued at $339,275,666. The disclosure for this sale can be found here. Company insiders own 11.53% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on MAX shares. Canaccord Genuity Group boosted their price target on shares of MediaAlpha from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. TD Cowen cut shares of MediaAlpha from a “buy” rating to a “hold” rating and cut their price target for the stock from $19.00 to $13.00 in a research note on Wednesday, June 26th. Royal Bank of Canada upped their price objective on MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $25.00 target price (up previously from $19.00) on shares of MediaAlpha in a research report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. upped their price target on MediaAlpha from $18.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.43.

MediaAlpha Price Performance

Shares of MAX traded down $0.08 during trading hours on Wednesday, reaching $12.61. The stock had a trading volume of 206,793 shares, compared to its average volume of 526,316. The firm has a 50-day moving average of $17.91 and a 200 day moving average of $16.66. MediaAlpha, Inc. has a 52 week low of $7.62 and a 52 week high of $25.78.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. The company had revenue of $126.60 million during the quarter, compared to the consensus estimate of $111.17 million. During the same period in the previous year, the firm posted ($0.23) EPS. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, research analysts expect that MediaAlpha, Inc. will post -0.09 EPS for the current 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.