Aigen Investment Management LP Sells 2,809 Shares of MediaAlpha, Inc. (NYSE:MAX)

Aigen Investment Management LP reduced its position in MediaAlpha, Inc. (NYSE:MAX) by 21.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,140 shares of the company’s stock after selling 2,809 shares during the quarter. Aigen Investment Management LP’s holdings in MediaAlpha were worth $184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in MediaAlpha by 15.0% in the 1st quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock worth $43,168,000 after buying an additional 276,641 shares during the period. Driehaus Capital Management LLC boosted its stake in shares of MediaAlpha by 208.4% in the second quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock worth $18,920,000 after acquiring an additional 970,840 shares during the period. Divisadero Street Capital Management LP purchased a new stake in shares of MediaAlpha during the second quarter worth about $7,956,000. Emerald Advisers LLC raised its stake in MediaAlpha by 51,407.5% during the 2nd quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock valued at $7,882,000 after purchasing an additional 597,355 shares during the period. Finally, Clearline Capital LP lifted its holdings in MediaAlpha by 1,255.3% in the 2nd quarter. Clearline Capital LP now owns 576,728 shares of the company’s stock worth $7,596,000 after purchasing an additional 534,176 shares in the last quarter. 64.39% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of MediaAlpha stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the completion of the transaction, the insider now directly owns 1,550,990 shares of the company’s stock, valued at $32,058,963.30. The trade was a 4.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 11.53% of the company’s stock.

MediaAlpha Stock Performance

Shares of MAX opened at $11.74 on Friday. The stock has a market capitalization of $778.36 million, a PE ratio of 69.06 and a beta of 1.23. The company’s fifty day moving average is $17.06 and its 200 day moving average is $16.75. MediaAlpha, Inc. has a fifty-two week low of $9.13 and a fifty-two week high of $25.78.

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group increased their price objective on shares of MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $26.00 price target (up previously from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. One 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, MediaAlpha has a consensus rating of “Moderate Buy” and a consensus price target of $25.14.

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.