Triad Investment Management Acquires 22,306 Shares of MediaAlpha, Inc. (NYSE:MAX)

Triad Investment Management increased its holdings in MediaAlpha, Inc. (NYSE:MAX) by 220.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 32,406 shares of the company’s stock after acquiring an additional 22,306 shares during the quarter. Triad Investment Management’s holdings in MediaAlpha were worth $334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Alliance Wealth Advisors LLC UT bought a new stake in MediaAlpha during the first quarter valued at about $151,000. Swiss National Bank grew its stake in shares of MediaAlpha by 3.1% during the 4th quarter. Swiss National Bank now owns 55,900 shares of the company’s stock valued at $556,000 after acquiring an additional 1,700 shares during the period. Picton Mahoney Asset Management increased its holdings in MediaAlpha by 28.8% in the 1st quarter. Picton Mahoney Asset Management now owns 397,902 shares of the company’s stock worth $5,959,000 after acquiring an additional 88,912 shares in the last quarter. HRT Financial LP bought a new stake in MediaAlpha during the 4th quarter worth approximately $191,000. Finally, SG Americas Securities LLC purchased a new position in MediaAlpha during the first quarter valued at approximately $125,000. 68.18% of the stock is currently owned by institutional investors.

MediaAlpha Price Performance

MAX stock opened at $7.97 on Friday. MediaAlpha, Inc. has a 1-year low of $5.08 and a 1-year high of $17.01. The business has a 50 day simple moving average of $9.03 and a two-hundred day simple moving average of $9.96. The company has a market capitalization of $512.85 million, a price-to-earnings ratio of -5.24 and a beta of 1.34.

MediaAlpha (NYSE:MAX) last released its earnings results on Wednesday, August 2nd. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.03. The company had revenue of $84.77 million during the quarter, compared to analysts’ expectations of $79.19 million. Sell-side analysts anticipate that MediaAlpha, Inc. will post -1.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MAX has been the subject of a number of analyst reports. JPMorgan Chase & Co. started coverage on shares of MediaAlpha in a research note on Friday, July 21st. They issued an “overweight” rating for the company. Citigroup downgraded shares of MediaAlpha from a “neutral” rating to a “sell” rating and upped their target price for the stock from $7.00 to $8.00 in a report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.00.

Insiders Place Their Bets

In other news, Director Mountains Insurance Grou White acquired 5,916,816 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was purchased at an average price of $10.00 per share, for a total transaction of $59,168,160.00. Following the completion of the transaction, the director now directly owns 22,856,814 shares in the company, valued at approximately $228,568,140. The acquisition was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 9.64% of the company’s stock.

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.