Jacobs Levy Equity Management Inc. Decreases Position in MediaAlpha, Inc. (NYSE:MAX)

Jacobs Levy Equity Management Inc. trimmed its position in shares of MediaAlpha, Inc. (NYSE:MAX) by 64.8% during the third quarter, Holdings Channel reports. The firm owned 17,115 shares of the company’s stock after selling 31,551 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in MediaAlpha were worth $310,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Centiva Capital LP purchased a new stake in shares of MediaAlpha in the third quarter valued at $535,000. Clearline Capital LP lifted its position in shares of MediaAlpha by 115.3% in the third quarter. Clearline Capital LP now owns 1,241,419 shares of the company’s stock valued at $22,482,000 after acquiring an additional 664,691 shares in the last quarter. PDT Partners LLC purchased a new stake in shares of MediaAlpha in the third quarter valued at $1,237,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of MediaAlpha by 8.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,428 shares of the company’s stock valued at $1,330,000 after acquiring an additional 5,708 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of MediaAlpha by 28.8% in the third quarter. MetLife Investment Management LLC now owns 17,446 shares of the company’s stock valued at $316,000 after acquiring an additional 3,906 shares in the last quarter. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MAX has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Royal Bank of Canada reduced their price objective on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.71.

MediaAlpha Trading Down 5.4 %

NYSE MAX opened at $11.16 on Wednesday. The business’s 50-day moving average price is $15.33 and its 200 day moving average price is $15.88. MediaAlpha, Inc. has a twelve month low of $10.21 and a twelve month high of $25.78. The company has a market capitalization of $743.97 million, a PE ratio of 68.65 and a beta of 1.10.

MediaAlpha (NYSE:MAX) last released its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share 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 firm had revenue of $259.13 million for the quarter, compared to the consensus estimate of $246.96 million. Equities analysts predict that MediaAlpha, Inc. will post 0.42 EPS for the current year.

Insiders Place Their Bets

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the company’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 completion of the sale, the insider now directly owns 1,550,990 shares in the company, valued at $32,058,963.30. This represents a 4.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 11.53% of the stock is currently owned by insiders.

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.