Connor Clark & Lunn Investment Management Ltd. Buys New Position in MediaAlpha, Inc. (NYSE:MAX)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in MediaAlpha, Inc. (NYSE:MAX) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 41,061 shares of the company’s stock, valued at approximately $744,000. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of MediaAlpha as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its stake in shares of 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 valued at $315,000 after purchasing an additional 1,150 shares during the period. Price T Rowe Associates Inc. MD boosted its position in MediaAlpha by 9.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock valued at $292,000 after buying an additional 1,235 shares during the last quarter. Hsbc Holdings PLC grew 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 valued at $312,000 after acquiring an additional 1,582 shares in the last quarter. Rhumbline Advisers increased its position 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 acquiring an additional 2,511 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in shares of MediaAlpha by 17.2% in the second quarter. Los Angeles Capital Management LLC now owns 28,763 shares of the company’s stock worth $379,000 after acquiring an additional 4,228 shares in the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

Insiders Place Their Bets

In other news, insider Eugene Nonko sold 72,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the sale, the insider now directly owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. This represents a 4.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.53% of the stock is currently owned by corporate insiders.

MediaAlpha Trading Up 1.3 %

MAX stock opened at $12.89 on Friday. The stock’s 50 day simple moving average is $16.29 and its 200 day simple moving average is $16.27. MediaAlpha, Inc. has a 12-month low of $9.69 and a 12-month high of $25.78. The firm has a market cap of $859.30 million, a P/E ratio of 75.82 and a beta of 1.23.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings results 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. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The company had revenue of $259.13 million for the quarter, compared to the consensus estimate of $246.96 million. On average, research analysts forecast that MediaAlpha, Inc. will post 0.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on MAX. Keefe, Bruyette & Woods restated an “outperform” rating and set a $26.00 price objective (up from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. The Goldman Sachs Group lifted their price target on shares of MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research note 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.14.

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.