Jacobs Asset Management LLC Trims Stock Holdings in MediaAlpha, Inc. (NYSE:MAX)

Jacobs Asset Management LLC cut its stake in shares of MediaAlpha, Inc. (NYSE:MAX) by 28.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 338,775 shares of the company’s stock after selling 136,225 shares during the quarter. MediaAlpha accounts for 4.1% of Jacobs Asset Management LLC’s portfolio, making the stock its 9th largest holding. Jacobs Asset Management LLC’s holdings in MediaAlpha were worth $6,135,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MAX. Point72 DIFC Ltd bought a new stake in MediaAlpha during the 2nd quarter worth approximately $65,000. Sandia Investment Management LP bought a new position in shares of MediaAlpha in the second quarter worth about $79,000. nVerses Capital LLC bought a new position in shares of MediaAlpha during the third quarter worth about $116,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in MediaAlpha by 354.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock valued at $114,000 after acquiring an additional 6,728 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of MediaAlpha during the second quarter valued at approximately $134,000. Institutional investors and hedge funds own 64.39% of the company’s stock.

Insider Activity at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the firm’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 transaction of $1,488,240.00. Following the sale, the insider now owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. This trade represents a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.53% of the stock is owned by company insiders.

MediaAlpha Stock Up 0.6 %

Shares of NYSE:MAX opened at $12.71 on Tuesday. MediaAlpha, Inc. has a 12-month low of $9.96 and a 12-month high of $25.78. The firm has a market capitalization of $847.25 million, a P/E ratio of 74.76 and a beta of 1.10. The firm has a fifty day moving average of $16.09 and a two-hundred day moving average of $16.16.

MediaAlpha (NYSE:MAX) last released its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.13 by $0.04. The firm had revenue of $259.13 million for the quarter, compared to analysts’ expectations of $246.96 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. Equities research analysts expect that MediaAlpha, Inc. will post 0.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.