Y Intercept Hong Kong Ltd Invests $707,000 in MediaAlpha, Inc. (NYSE:MAX)

Y Intercept Hong Kong Ltd bought a new stake in shares of MediaAlpha, Inc. (NYSE:MAX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 39,035 shares of the company’s stock, valued at approximately $707,000. Y Intercept Hong Kong Ltd owned about 0.06% of MediaAlpha as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in MAX. Quarry LP grew its stake in shares of MediaAlpha by 157.8% during the third quarter. Quarry LP now owns 2,820 shares of the company’s stock valued at $51,000 after buying an additional 1,726 shares during the last quarter. Point72 DIFC Ltd bought a new position in MediaAlpha during the 2nd quarter worth approximately $65,000. Sandia Investment Management LP bought a new position in MediaAlpha during the 2nd quarter worth approximately $79,000. nVerses Capital LLC purchased a new position in MediaAlpha in the 3rd quarter worth approximately $116,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in MediaAlpha by 354.9% in the second 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 during the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Royal Bank of Canada cut their target price on shares of MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. Keefe, Bruyette & Woods cut their price target on shares of MediaAlpha from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, The Goldman Sachs Group boosted their price objective on shares of MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One investment 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.14.

MediaAlpha Stock Performance

MediaAlpha stock opened at $10.74 on Friday. MediaAlpha, Inc. has a fifty-two week low of $10.21 and a fifty-two week high of $25.78. The stock has a market cap of $715.97 million, a price-to-earnings ratio of 63.18 and a beta of 1.10. The stock’s 50 day simple moving average is $14.78 and its two-hundred day simple moving average is $15.71.

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

Insiders Place Their Bets

In other news, insider Eugene Nonko sold 72,000 shares of the stock in a transaction on Wednesday, October 30th. The stock was 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. This represents a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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.