PDT Partners LLC Purchases Shares of 68,331 MediaAlpha, Inc. (NYSE:MAX)

PDT Partners LLC acquired a new position in MediaAlpha, Inc. (NYSE:MAX) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 68,331 shares of the company’s stock, valued at approximately $1,237,000.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of MediaAlpha by 15.0% in the 1st quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock valued at $43,168,000 after acquiring an additional 276,641 shares during the last quarter. Driehaus Capital Management LLC raised its position in MediaAlpha by 208.4% during the second quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock valued at $18,920,000 after purchasing an additional 970,840 shares during the period. Divisadero Street Capital Management LP bought a new stake in shares of MediaAlpha in the 2nd quarter valued at approximately $7,956,000. Emerald Advisers LLC boosted its holdings in shares of MediaAlpha by 51,407.5% in the 2nd quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock worth $7,882,000 after purchasing an additional 597,355 shares during the period. Finally, Clearline Capital LP increased its position in shares of MediaAlpha by 1,255.3% during the 2nd quarter. Clearline Capital LP now owns 576,728 shares of the company’s stock valued at $7,596,000 after purchasing an additional 534,176 shares during the last quarter. 64.39% of the stock is owned by hedge funds and other institutional investors.

MediaAlpha Stock Performance

Shares of NYSE MAX opened at $12.63 on Monday. MediaAlpha, Inc. has a fifty-two week low of $9.76 and a fifty-two week high of $25.78. The company has a market cap of $841.97 million, a price-to-earnings ratio of 74.29 and a beta of 1.23. The business’s 50 day moving average price is $16.09 and its 200-day moving average price is $16.16.

MediaAlpha (NYSE:MAX) last released its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. The business had revenue of $259.13 million for the quarter, compared to analyst estimates of $246.96 million. Sell-side analysts predict that MediaAlpha, Inc. will post 0.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised their price target on MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.14.

Insider Buying and Selling

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 11.53% of the stock is currently owned by insiders.

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.