6,692 Shares in MediaAlpha, Inc. (NYSE:MAX) Bought by EntryPoint Capital LLC

EntryPoint Capital LLC purchased a new position in MediaAlpha, Inc. (NYSE:MAX) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,692 shares of the company’s stock, valued at approximately $136,000.

Other hedge funds have also bought and sold shares of the company. Tower Research Capital LLC TRC increased its position in MediaAlpha by 111.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock valued at $50,000 after acquiring an additional 2,343 shares during the last quarter. SYSTM Wealth Solutions LLC bought a new position in MediaAlpha during the first quarter valued at $178,000. Westfield Capital Management Co. LP bought a new position in MediaAlpha during the first quarter valued at $364,000. Norden Group LLC increased its position in MediaAlpha by 32.8% during the first quarter. Norden Group LLC now owns 18,750 shares of the company’s stock valued at $382,000 after acquiring an additional 4,633 shares during the last quarter. Finally, Portside Wealth Group LLC increased its position in MediaAlpha by 9.1% during the fourth quarter. Portside Wealth Group LLC now owns 18,755 shares of the company’s stock valued at $209,000 after acquiring an additional 1,567 shares during the last quarter. Institutional investors own 64.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MAX shares. Royal Bank of Canada boosted their price objective on shares of MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, May 28th. JPMorgan Chase & Co. upped their price target on shares of MediaAlpha from $18.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Canaccord Genuity Group upped their price target on shares of MediaAlpha from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $25.00 price target (up from $19.00) on shares of MediaAlpha in a report on Wednesday, May 15th. Finally, TD Cowen cut shares of MediaAlpha from a “buy” rating to a “hold” rating and cut their price target for the stock from $19.00 to $13.00 in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, MediaAlpha presently has an average rating of “Moderate Buy” and an average target price of $22.43.

MediaAlpha Stock Up 1.5 %

NYSE:MAX traded up $0.22 during mid-day trading on Friday, reaching $14.66. The company’s stock had a trading volume of 135,178 shares, compared to its average volume of 534,529. MediaAlpha, Inc. has a 1 year low of $7.62 and a 1 year high of $25.78. The stock has a fifty day moving average of $15.67 and a 200-day moving average of $16.85. The firm has a market capitalization of $965.21 million, a PE ratio of -21.24 and a beta of 1.20.

MediaAlpha (NYSE:MAX) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09. The business had revenue of $126.60 million during the quarter, compared to analysts’ expectations of $111.17 million. During the same period last year, the company earned ($0.23) earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. On average, analysts expect that MediaAlpha, Inc. will post 0.13 earnings per share for the current year.

Insider Buying and Selling

In other MediaAlpha news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $19.00, for a total transaction of $95,003,800.00. Following the completion of the sale, the insider now directly owns 17,856,614 shares of the company’s stock, valued at $339,275,666. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $19.00, for a total transaction of $49,206,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $19.00, for a total transaction of $95,003,800.00. Following the completion of the transaction, the insider now directly owns 17,856,614 shares of the company’s stock, valued at $339,275,666. The disclosure for this sale can be found here. 11.53% of the stock is owned by insiders.

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.