Verition Fund Management LLC Reduces Position in MediaAlpha, Inc. (NYSE:MAX)

Verition Fund Management LLC lowered its holdings in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 89.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,254 shares of the company's stock after selling 126,677 shares during the quarter. Verition Fund Management LLC's holdings in MediaAlpha were worth $258,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in MediaAlpha by 5.1% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,890 shares of the company's stock valued at $315,000 after purchasing an additional 1,150 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in MediaAlpha by 11.9% during the third quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company's stock valued at $206,000 after purchasing an additional 1,213 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of MediaAlpha by 9.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company's stock worth $292,000 after acquiring an additional 1,235 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in shares of MediaAlpha by 7.1% in the 2nd quarter. Hsbc Holdings PLC now owns 23,791 shares of the company's stock worth $312,000 after acquiring an additional 1,582 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of MediaAlpha by 7.3% in the 2nd quarter. Rhumbline Advisers now owns 36,751 shares of the company's stock worth $484,000 after acquiring an additional 2,511 shares during the last quarter. Institutional investors own 64.39% of the company's stock.

MediaAlpha Stock Up 0.1 %

MAX traded up $0.01 on Friday, reaching $10.74. 383,474 shares of the company traded hands, compared to its average volume of 580,698. The company has a market cap of $715.97 million, a P/E ratio of 63.18 and a beta of 1.10. The firm has a fifty day simple moving average of $14.78 and a two-hundred day simple moving average of $15.68. MediaAlpha, Inc. has a one year low of $10.21 and a one year high of $25.78.

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

Insider Buying and Selling at MediaAlpha

In related news, insider Eugene Nonko sold 72,000 shares of the business's stock in a transaction 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 completion of the transaction, the insider now directly owns 1,550,990 shares in the company, valued at $32,058,963.30. The trade was a 4.44 % decrease in their position. 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.

Analysts Set New Price Targets

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

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.