Allspring Global Investments Holdings LLC Acquires Shares of 27,119 MediaAlpha, Inc. (NYSE:MAX)

Allspring Global Investments Holdings LLC acquired a new stake in shares of MediaAlpha, Inc. (NYSE:MAX) in the 3rd quarter, HoldingsChannel reports. The firm acquired 27,119 shares of the company’s stock, valued at approximately $491,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MAX. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in MediaAlpha by 5.1% during the 2nd 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 buying an additional 1,150 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of MediaAlpha by 9.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock worth $292,000 after acquiring an additional 1,235 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of MediaAlpha by 7.1% during the second quarter. Hsbc Holdings PLC now owns 23,791 shares of the company’s stock worth $312,000 after acquiring an additional 1,582 shares during the last quarter. Silvercrest Asset Management Group LLC increased its position in shares of MediaAlpha by 0.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 375,509 shares of the company’s stock worth $7,649,000 after acquiring an additional 1,667 shares during the last quarter. Finally, 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. 64.39% of the stock is owned by hedge funds and other institutional investors.

MediaAlpha Trading Down 4.4 %

Shares of NYSE:MAX opened at $16.38 on Friday. The business has a 50-day moving average price of $18.05 and a 200 day moving average price of $17.22. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 96.35 and a beta of 1.22. MediaAlpha, Inc. has a 12-month low of $8.55 and a 12-month high of $25.78.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The company 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 11.03% and a net margin of 1.41%. As a group, equities research analysts predict that MediaAlpha, Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MAX has been the topic of several recent research reports. The Goldman Sachs Group lifted their price target on shares of MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Friday. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $26.00 price target (up from $25.00) on shares of MediaAlpha in a research report on Thursday, August 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.com, the company has an average rating of “Moderate Buy” and an average target price of $25.14.

Insider Transactions at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of MediaAlpha 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 transaction, the insider now owns 1,550,990 shares of the company’s stock, valued at $32,058,963.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate 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.