Hsbc Holdings PLC Acquires 8,981 Shares of MediaAlpha, Inc. $MAX

Hsbc Holdings PLC raised its holdings in MediaAlpha, Inc. (NYSE:MAX) by 21.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,406 shares of the company’s stock after buying an additional 8,981 shares during the period. Hsbc Holdings PLC owned about 0.08% of MediaAlpha worth $472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MAX. GAMMA Investing LLC raised its stake in MediaAlpha by 8,775.8% in the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company’s stock valued at $27,000 after buying an additional 2,896 shares during the period. Virtus Fund Advisers LLC bought a new position in shares of MediaAlpha during the fourth quarter worth approximately $35,000. Arizona State Retirement System bought a new position in shares of MediaAlpha during the first quarter worth approximately $95,000. Cerity Partners LLC bought a new position in shares of MediaAlpha during the first quarter worth approximately $150,000. Finally, CWM LLC increased its stake in shares of MediaAlpha by 151.8% during the first quarter. CWM LLC now owns 16,523 shares of the company’s stock worth $153,000 after purchasing an additional 9,962 shares during the period. Institutional investors own 64.39% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MAX. Royal Bank Of Canada lowered their target price on MediaAlpha from $20.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Wall Street Zen lowered MediaAlpha from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Six research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $17.92.

Insiders Place Their Bets

In other MediaAlpha news, CRO Keith Cramer sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $9.73, for a total value of $194,600.00. Following the sale, the executive owned 167,200 shares of the company’s stock, valued at approximately $1,626,856. This trade represents a 10.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kathy P. Vrabeck bought 31,000 shares of MediaAlpha stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $9.60 per share, for a total transaction of $297,600.00. Following the acquisition, the director owned 129,657 shares in the company, valued at approximately $1,244,707.20. This represents a 31.42% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 29,669 shares of company stock worth $297,873. Corporate insiders own 11.53% of the company’s stock.

MediaAlpha Price Performance

MediaAlpha stock opened at $10.57 on Tuesday. The stock’s fifty day moving average price is $10.43 and its two-hundred day moving average price is $9.90. MediaAlpha, Inc. has a one year low of $7.33 and a one year high of $20.91. The firm has a market cap of $717.92 million, a PE ratio of -88.05 and a beta of 1.19.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. MediaAlpha had a negative return on equity of 62.53% and a negative net margin of 0.61%.The firm had revenue of $251.62 million for the quarter, compared to analyst estimates of $248.80 million. During the same quarter last year, the company earned $0.07 EPS. The company’s revenue was up 41.1% on a year-over-year basis. Sell-side analysts expect that MediaAlpha, Inc. will post 0.48 earnings per share for the current fiscal year.

About MediaAlpha

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.