Quarry LP Purchases 1,726 Shares of MediaAlpha, Inc. (NYSE:MAX)

Quarry LP increased its holdings in MediaAlpha, Inc. (NYSE:MAX) by 157.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,820 shares of the company’s stock after purchasing an additional 1,726 shares during the period. Quarry LP’s holdings in MediaAlpha were worth $51,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. GSA Capital Partners LLP purchased a new position in shares of MediaAlpha in the 3rd quarter worth $804,000. PDT Partners LLC purchased a new position in MediaAlpha in the third quarter worth about $1,237,000. Divisadero Street Capital Management LP bought a new stake in MediaAlpha during the second quarter worth approximately $7,956,000. Ghisallo Capital Management LLC raised its position in MediaAlpha by 535.3% during the second quarter. Ghisallo Capital Management LLC now owns 487,500 shares of the company’s stock valued at $6,420,000 after purchasing an additional 410,764 shares during the period. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in shares of MediaAlpha by 49.6% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 311,796 shares of the company’s stock valued at $4,106,000 after purchasing an additional 103,427 shares during the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of MediaAlpha stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the completion of the sale, the insider now directly owns 1,550,990 shares of the company’s stock, valued at $32,058,963.30. The trade was a 4.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 11.53% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on MAX shares. Royal Bank of Canada cut their target price on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. The Goldman Sachs Group boosted their price objective on shares of MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.71.

MediaAlpha Stock Down 5.4 %

MAX opened at $11.16 on Wednesday. The business has a fifty day moving average of $15.33 and a 200 day moving average of $15.88. The stock has a market cap of $743.97 million, a P/E ratio of 65.65 and a beta of 1.10. MediaAlpha, Inc. has a 52-week low of $10.21 and a 52-week high of $25.78.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $259.13 million during the quarter, compared to analyst estimates of $246.96 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. Equities analysts anticipate 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.