Wealth Enhancement Advisory Services LLC Invests $155,000 in MediaAlpha, Inc. $MAX

Wealth Enhancement Advisory Services LLC acquired a new position in shares of MediaAlpha, Inc. (NYSE:MAX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,757 shares of the company’s stock, valued at approximately $155,000.

Several other hedge funds have also made changes to their positions in MAX. Clearline Capital LP boosted its holdings in shares of MediaAlpha by 123.4% during the first quarter. Clearline Capital LP now owns 2,654,921 shares of the company’s stock worth $24,531,000 after purchasing an additional 1,466,760 shares during the last quarter. Broad Bay Capital Management LP boosted its holdings in shares of MediaAlpha by 23.8% during the first quarter. Broad Bay Capital Management LP now owns 2,747,778 shares of the company’s stock worth $25,389,000 after purchasing an additional 529,093 shares during the last quarter. Nuveen LLC acquired a new stake in shares of MediaAlpha during the first quarter worth $4,675,000. PDT Partners LLC acquired a new stake in shares of MediaAlpha during the first quarter worth $1,199,000. Finally, Algert Global LLC boosted its holdings in shares of MediaAlpha by 65.0% during the first quarter. Algert Global LLC now owns 225,300 shares of the company’s stock worth $2,082,000 after purchasing an additional 88,791 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

Insider Buying and Selling at MediaAlpha

In related news, CRO Keith Cramer sold 20,000 shares of MediaAlpha stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $9.73, for a total transaction of $194,600.00. Following the sale, the executive owned 167,200 shares of the company’s stock, valued at $1,626,856. The trade was a 10.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathy P. Vrabeck purchased 31,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average cost of $9.60 per share, for a total transaction of $297,600.00. Following the purchase, the director directly owned 129,657 shares in the company, valued at $1,244,707.20. This trade represents a 31.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 29,669 shares of company stock worth $297,873 in the last ninety days. 13.44% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MAX shares. Wall Street Zen cut MediaAlpha from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of MediaAlpha in a report on Wednesday. Finally, Keefe, Bruyette & Woods lifted their target price on MediaAlpha from $17.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Six investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $18.25.

MediaAlpha Stock Down 2.3%

NYSE MAX opened at $10.55 on Friday. MediaAlpha, Inc. has a fifty-two week low of $7.33 and a fifty-two week high of $20.91. The business has a 50 day moving average price of $11.32 and a two-hundred day moving average price of $10.33. The stock has a market cap of $716.77 million, a PE ratio of -87.91 and a beta of 1.20.

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

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.