Jacobs Levy Equity Management Inc. Sells 337,744 Shares of MediaAlpha, Inc. $MAX

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 70.9% during the 1st quarter, Holdings Channel reports. The fund owned 138,598 shares of the company’s stock after selling 337,744 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in MediaAlpha were worth $1,281,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its holdings in MediaAlpha by 18.1% during the 1st quarter. AQR Capital Management LLC now owns 557,796 shares of the company’s stock worth $5,154,000 after acquiring an additional 85,581 shares in the last quarter. PDT Partners LLC bought a new position in MediaAlpha during the 1st quarter worth about $1,199,000. Graham Capital Management L.P. grew its holdings in MediaAlpha by 15.1% during the 1st quarter. Graham Capital Management L.P. now owns 73,945 shares of the company’s stock worth $683,000 after acquiring an additional 9,694 shares in the last quarter. Broad Bay Capital Management LP grew its holdings in MediaAlpha by 23.8% during the 1st quarter. Broad Bay Capital Management LP now owns 2,747,778 shares of the company’s stock worth $25,389,000 after acquiring an additional 529,093 shares in the last quarter. Finally, Earnest Partners LLC grew its holdings in MediaAlpha by 12.8% during the 1st quarter. Earnest Partners LLC now owns 272,433 shares of the company’s stock worth $2,517,000 after acquiring an additional 30,874 shares in the last quarter. 64.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wall Street Zen downgraded MediaAlpha from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Keefe, Bruyette & Woods upped their price objective on MediaAlpha from $17.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, September 5th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, MediaAlpha presently has a consensus rating of “Buy” and a consensus price target of $18.25.

MediaAlpha Price Performance

Shares of NYSE MAX opened at $12.90 on Friday. The stock has a market capitalization of $876.43 million, a P/E ratio of -107.49 and a beta of 1.19. MediaAlpha, Inc. has a 1-year low of $7.33 and a 1-year high of $20.91. The business has a fifty day moving average price of $10.66 and a 200 day moving average price of $9.94.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $251.62 million during the quarter, compared to analysts’ expectations of $248.80 million. MediaAlpha had a negative return on equity of 62.53% and a negative net margin of 0.61%.The firm’s quarterly revenue was up 41.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 EPS. As a group, equities research analysts anticipate that MediaAlpha, Inc. will post 0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MediaAlpha news, Director Kathy P. Vrabeck acquired 31,000 shares of the stock in a transaction dated Tuesday, August 12th. The stock was purchased at an average price of $9.60 per share, with a total value of $297,600.00. Following the transaction, the director directly owned 129,657 shares of the company’s stock, valued at $1,244,707.20. This trade represents a 31.42% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Keith Cramer sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $9.73, for a total value of $194,600.00. Following the completion of the sale, the executive directly owned 167,200 shares of the company’s stock, valued at $1,626,856. The trade was a 10.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,669 shares of company stock valued at $297,873 in the last three months. Insiders own 13.44% of the company’s stock.

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.