Jacobs Asset Management LLC Trims Stake in MediaAlpha, Inc. (NYSE:MAX)

Jacobs Asset Management LLC lowered its position in MediaAlpha, Inc. (NYSE:MAX) by 28.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 338,775 shares of the company’s stock after selling 136,225 shares during the period. MediaAlpha comprises about 4.1% of Jacobs Asset Management LLC’s portfolio, making the stock its 9th largest position. Jacobs Asset Management LLC owned about 0.51% of MediaAlpha worth $6,135,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Point72 DIFC Ltd purchased a new position in MediaAlpha during the 2nd quarter valued at $65,000. Sandia Investment Management LP purchased a new position in shares of MediaAlpha during the second quarter valued at approximately $79,000. nVerses Capital LLC bought a new position in MediaAlpha during the 3rd quarter worth about $116,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of MediaAlpha by 354.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock worth $114,000 after purchasing an additional 6,728 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in MediaAlpha during the second quarter valued at $134,000. 64.39% of the stock is owned by hedge funds and other institutional investors.

MediaAlpha Price Performance

NYSE:MAX opened at $12.71 on Tuesday. The company has a market cap of $847.25 million, a PE ratio of 74.76 and a beta of 1.10. The firm’s 50 day simple moving average is $16.09 and its 200 day simple moving average is $16.16. MediaAlpha, Inc. has a one year low of $9.96 and a one year high of $25.78.

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 firm had revenue of $259.13 million during the quarter, compared to analysts’ expectations of $246.96 million. MediaAlpha had a negative return on equity of 11.98% and a net margin of 1.41%. Equities research analysts expect that MediaAlpha, Inc. will post 0.42 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised their price objective on shares of MediaAlpha from $20.00 to $26.00 and gave the company 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 assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $25.14.

Insider Activity

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the firm’s 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 transaction, the insider now owns 1,550,990 shares in the company, valued at approximately $32,058,963.30. This trade represents a 4.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.