XTX Topco Ltd Takes Position in MediaAlpha, Inc. (NYSE:MAX)

XTX Topco Ltd purchased a new stake in MediaAlpha, Inc. (NYSE:MAX) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 22,581 shares of the company’s stock, valued at approximately $409,000.

A number of other institutional investors have also recently bought and sold shares of MAX. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings 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 worth $315,000 after buying an additional 1,150 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of MediaAlpha by 11.9% during the third quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock valued at $206,000 after acquiring an additional 1,213 shares during the period. Hsbc Holdings PLC lifted its position in shares of MediaAlpha by 7.1% in the 2nd 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. Quarry LP boosted its stake in MediaAlpha by 157.8% in the 3rd quarter. Quarry LP now owns 2,820 shares of the company’s stock worth $51,000 after purchasing an additional 1,726 shares during the period. Finally, Rhumbline Advisers grew its position in MediaAlpha by 7.3% during the 2nd quarter. Rhumbline Advisers now owns 36,751 shares of the company’s stock worth $484,000 after purchasing an additional 2,511 shares in the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Insider Activity

In other 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 11.53% of the stock is owned by insiders.

MediaAlpha Price Performance

Shares of MAX stock opened at $10.74 on Monday. MediaAlpha, Inc. has a fifty-two week low of $10.21 and a fifty-two week high of $25.78. The stock’s 50-day moving average is $14.78 and its two-hundred day moving average is $15.67. The firm has a market cap of $715.97 million, a P/E ratio of 63.18 and a beta of 1.10.

MediaAlpha (NYSE:MAX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $259.13 million for 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%. As a group, research analysts expect that MediaAlpha, Inc. will post 0.42 EPS for the current year.

Analyst Upgrades and Downgrades

MAX has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods reduced their target price on MediaAlpha from $26.00 to $22.00 and set an “outperform” rating for the company in a report on Wednesday, December 11th. The Goldman Sachs Group increased their price objective on MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada lowered their target price on MediaAlpha from $23.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.14.

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.