Dynamic Technology Lab Private Ltd Invests $262,000 in MediaAlpha, Inc. (NYSE:MAX)

Dynamic Technology Lab Private Ltd purchased a new stake in MediaAlpha, Inc. (NYSE:MAX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 14,448 shares of the company’s stock, valued at approximately $262,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of MediaAlpha by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock worth $43,168,000 after purchasing an additional 276,641 shares during the last quarter. GSA Capital Partners LLP acquired a new position in MediaAlpha during the third quarter worth $804,000. Divisadero Street Capital Management LP bought a new position in MediaAlpha during the second quarter valued at about $7,956,000. Ghisallo Capital Management LLC lifted its position in shares of MediaAlpha by 535.3% in the second quarter. Ghisallo Capital Management LLC now owns 487,500 shares of the company’s stock worth $6,420,000 after buying an additional 410,764 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust boosted its stake in shares of MediaAlpha by 49.6% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 311,796 shares of the company’s stock worth $4,106,000 after acquiring an additional 103,427 shares in 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, insider Eugene Nonko sold 72,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 1,550,990 shares in the company, valued at $32,058,963.30. The trade was a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 11.53% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised their price objective on MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.14.

MediaAlpha Stock Performance

NYSE MAX opened at $12.63 on Monday. The stock has a 50-day simple moving average of $16.09 and a 200 day simple moving average of $16.16. MediaAlpha, Inc. has a twelve month low of $9.76 and a twelve month high of $25.78. The stock has a market capitalization of $841.97 million, a PE ratio of 74.29 and a beta of 1.23.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The company had revenue of $259.13 million during the quarter, compared to analyst estimates of $246.96 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. As a group, equities research analysts forecast that MediaAlpha, Inc. will post 0.42 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.