MediaAlpha, Inc. $MAX Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC reduced its position in shares of MediaAlpha, Inc. (NYSE:MAX) by 56.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,666 shares of the company’s stock after selling 75,891 shares during the period. Squarepoint Ops LLC owned about 0.09% of MediaAlpha worth $642,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MAX. Nomura Holdings Inc. purchased a new stake in MediaAlpha during the 2nd quarter worth about $427,000. Tower Research Capital LLC TRC raised its position in shares of MediaAlpha by 28.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock worth $61,000 after acquiring an additional 1,213 shares in the last quarter. Voleon Capital Management LP acquired a new stake in shares of MediaAlpha during the 2nd quarter worth about $198,000. Shay Capital LLC lifted its stake in MediaAlpha by 17.2% during the second quarter. Shay Capital LLC now owns 670,000 shares of the company’s stock worth $7,336,000 after purchasing an additional 98,159 shares during the last quarter. Finally, Man Group plc acquired a new position in MediaAlpha in the second quarter valued at approximately $232,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Insider Activity

In related news, CRO Keith Cramer sold 10,000 shares of MediaAlpha stock in a transaction on Monday, December 15th. The shares were sold at an average price of $12.83, for a total value of $128,300.00. Following the transaction, the executive directly owned 187,169 shares in the company, valued at $2,401,378.27. This trade represents a 5.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven Yi sold 8,000 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $11.88, for a total transaction of $95,040.00. Following the completion of the transaction, the insider directly owned 2,967,330 shares in the company, valued at $35,251,880.40. This represents a 0.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 231,000 shares of company stock valued at $2,939,984. Company insiders own 11.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MAX shares. Wall Street Zen raised shares of MediaAlpha from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 1st. Keefe, Bruyette & Woods lifted their price target on shares of MediaAlpha from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of MediaAlpha from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. The Goldman Sachs Group set a $13.50 price objective on MediaAlpha in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of MediaAlpha in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.25.

MediaAlpha Stock Performance

NYSE MAX opened at $12.70 on Wednesday. The firm’s fifty day moving average is $12.40 and its two-hundred day moving average is $11.49. MediaAlpha, Inc. has a one year low of $7.33 and a one year high of $13.92. The firm has a market cap of $827.79 million, a PE ratio of -423.26 and a beta of 1.21.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, October 29th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.05. The business had revenue of $306.51 million during the quarter, compared to the consensus estimate of $283.30 million. MediaAlpha had a negative net margin of 0.10% and a negative return on equity of 71.02%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 earnings per share. Research analysts predict that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

About MediaAlpha

MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company’s platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.

The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.