Barclays PLC Raises Stock Position in MediaAlpha, Inc. (NYSE:MAX)

Barclays PLC increased its position in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 423.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,525 shares of the company's stock after purchasing an additional 53,809 shares during the quarter. Barclays PLC owned 0.10% of MediaAlpha worth $1,204,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MAX. Quarry LP raised its stake in shares of MediaAlpha by 157.8% during the 3rd quarter. Quarry LP now owns 2,820 shares of the company's stock worth $51,000 after buying an additional 1,726 shares during the last quarter. Point72 DIFC Ltd purchased a new position in MediaAlpha during the 2nd quarter valued at about $65,000. Sandia Investment Management LP purchased a new position in MediaAlpha during the 2nd quarter valued at about $79,000. nVerses Capital LLC acquired a new position in MediaAlpha during the third quarter worth about $116,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of MediaAlpha in the second quarter valued at about $134,000. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of MediaAlpha from $25.00 to $15.00 and set an "overweight" rating for the company in a research note on Friday. Keefe, Bruyette & Woods cut their price target on MediaAlpha from $26.00 to $22.00 and set an "outperform" rating for the company in a report on Wednesday, December 11th. The Goldman Sachs Group reduced their price objective on MediaAlpha from $26.00 to $23.00 and set a "buy" rating on the stock in a research report on Tuesday. Finally, Royal Bank of Canada dropped their price objective on MediaAlpha from $23.00 to $20.00 and set an "outperform" rating for the company in a research report on Wednesday, December 4th. 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 stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.57.

Insiders Place Their Bets

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

MediaAlpha Stock Down 0.3 %

Shares of NYSE:MAX traded down $0.03 during midday trading on Tuesday, reaching $11.18. The company's stock had a trading volume of 346,949 shares, compared to its average volume of 434,719. The business has a 50 day moving average price of $11.68 and a 200 day moving average price of $14.84. MediaAlpha, Inc. has a 1 year low of $10.21 and a 1 year high of $25.78. The firm has a market cap of $745.30 million, a price-to-earnings ratio of 65.76 and a beta of 1.12.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. The company had revenue of $259.13 million during the quarter, compared to analysts' expectations of $246.96 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. Sell-side analysts anticipate that MediaAlpha, Inc. will post 0.42 earnings per share 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.