Charles Schwab Investment Management Inc. Buys 71,676 Shares of MediaAlpha, Inc. (NYSE:MAX)

Charles Schwab Investment Management Inc. lifted its position in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 35.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 273,944 shares of the company's stock after purchasing an additional 71,676 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.41% of MediaAlpha worth $4,961,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Point72 DIFC Ltd acquired a new position in MediaAlpha during the 2nd quarter valued at about $65,000. Sandia Investment Management LP purchased a new position in shares of MediaAlpha during the second quarter valued at approximately $79,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of MediaAlpha by 354.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company's stock valued at $114,000 after buying an additional 6,728 shares during the last quarter. nVerses Capital LLC bought a new stake in MediaAlpha during the third quarter worth $116,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in MediaAlpha in the 2nd quarter valued at $134,000. 64.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Eugene Nonko sold 72,000 shares of the business's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total value of $1,488,240.00. Following the sale, the insider now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 11.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MAX. Royal Bank of Canada cut their price objective on shares of MediaAlpha from $23.00 to $20.00 and set an "outperform" rating on the stock in a report on Wednesday, December 4th. The Goldman Sachs Group boosted their price target on shares of MediaAlpha from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of MediaAlpha from $26.00 to $22.00 and set an "outperform" rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $24.14.

MediaAlpha Stock Up 0.1 %

MAX traded up $0.01 during trading on Friday, hitting $10.74. 383,474 shares of the company traded hands, compared to its average volume of 580,698. MediaAlpha, Inc. has a one year low of $10.21 and a one year high of $25.78. The stock's fifty day moving average is $14.78 and its 200 day moving average is $15.71. The firm has a market cap of $715.97 million, a P/E ratio of 63.18 and a beta of 1.10.

MediaAlpha (NYSE:MAX - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share 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 the consensus estimate of $246.96 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. On average, equities research analysts forecast that MediaAlpha, Inc. will post 0.42 EPS for the current fiscal 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.