Clearline Capital LP Has $22.48 Million Holdings in MediaAlpha, Inc. (NYSE:MAX)

Clearline Capital LP lifted its stake in shares of MediaAlpha, Inc. (NYSE:MAX) by 115.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,241,419 shares of the company’s stock after purchasing an additional 664,691 shares during the period. MediaAlpha makes up about 1.0% of Clearline Capital LP’s investment portfolio, making the stock its 11th biggest position. Clearline Capital LP owned approximately 1.87% of MediaAlpha worth $22,482,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in MediaAlpha by 5.1% in the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,890 shares of the company’s stock worth $315,000 after purchasing an additional 1,150 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of MediaAlpha by 11.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock valued at $206,000 after purchasing an additional 1,213 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of MediaAlpha by 9.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock worth $292,000 after buying an additional 1,235 shares during the period. Hsbc Holdings PLC raised its stake in shares of MediaAlpha by 7.1% during the second quarter. Hsbc Holdings PLC now owns 23,791 shares of the company’s stock worth $312,000 after buying an additional 1,582 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in shares of MediaAlpha by 7.3% during the second quarter. Rhumbline Advisers now owns 36,751 shares of the company’s stock worth $484,000 after buying an additional 2,511 shares during the last quarter. 64.39% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Eugene Nonko sold 72,000 shares of the business’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 of the company’s stock, valued at approximately $32,058,963.30. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 11.53% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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 research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $25.14.

MediaAlpha Stock Performance

Shares of NYSE MAX opened at $12.63 on Monday. MediaAlpha, Inc. has a 52-week low of $9.76 and a 52-week high of $25.78. The stock has a market cap of $841.97 million, a P/E ratio of 74.29 and a beta of 1.23. The firm has a 50 day moving average price of $16.09 and a 200 day moving average price of $16.16.

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