Quest Partners LLC Sells 16,157 Shares of MediaAlpha, Inc. (NYSE:MAX)

Quest Partners LLC lowered its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 72.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,044 shares of the company’s stock after selling 16,157 shares during the quarter. Quest Partners LLC’s holdings in MediaAlpha were worth $109,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of MAX. Point72 DIFC Ltd bought a new position in shares of MediaAlpha during the 2nd quarter valued at $65,000. Sandia Investment Management LP bought a new position in shares of MediaAlpha during the 2nd quarter valued at $79,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of MediaAlpha by 354.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock valued at $114,000 after purchasing an additional 6,728 shares in the last quarter. nVerses Capital LLC bought a new position in MediaAlpha in the 3rd quarter worth $116,000. Finally, The Manufacturers Life Insurance Company bought a new position in MediaAlpha in the 2nd quarter worth $134,000. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Price Performance

Shares of MAX opened at $12.63 on Friday. The company has a market capitalization of $841.92 million, a PE ratio of 74.29 and a beta of 1.23. The company’s fifty day moving average price is $16.09 and its 200 day moving average price is $16.20. MediaAlpha, Inc. has a one year low of $9.76 and a one year high of $25.78.

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

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group lifted their target price on shares of MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $25.14.

Insiders Place Their Bets

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the firm’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 sale, the insider now directly owns 1,550,990 shares in the company, valued at $32,058,963.30. This trade represents 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.

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.