Picton Mahoney Asset Management Has $229,000 Stock Holdings in MediaAlpha, Inc. (NYSE:MAX)

Picton Mahoney Asset Management boosted its position in shares of MediaAlpha, Inc. (NYSE:MAX) by 211.2% during the 4th quarter, HoldingsChannel reports. The fund owned 20,480 shares of the company’s stock after buying an additional 13,900 shares during the quarter. Picton Mahoney Asset Management’s holdings in MediaAlpha were worth $229,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in MAX. Allspring Global Investments Holdings LLC raised its stake in shares of MediaAlpha by 305.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 16,404 shares of the company’s stock valued at $135,000 after buying an additional 12,355 shares in the last quarter. Swiss National Bank raised its position in MediaAlpha by 4.6% in the third quarter. Swiss National Bank now owns 45,400 shares of the company’s stock worth $375,000 after purchasing an additional 2,000 shares in the last quarter. Alliance Wealth Advisors LLC UT acquired a new position in MediaAlpha in the third quarter worth about $84,000. Hsbc Holdings PLC bought a new position in MediaAlpha during the third quarter worth about $172,000. Finally, Mariner LLC boosted its holdings in MediaAlpha by 449.2% during the third quarter. Mariner LLC now owns 76,060 shares of the company’s stock valued at $628,000 after purchasing an additional 62,210 shares in the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

Insider Transactions at MediaAlpha

In related news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $19.00, for a total value of $95,003,800.00. Following the completion of the sale, the insider now owns 17,856,614 shares of the company’s stock, valued at $339,275,666. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $19.85, for a total transaction of $58,557,500.00. Following the completion of the sale, the insider now directly owns 50,000 shares of the company’s stock, valued at approximately $992,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $19.00, for a total transaction of $95,003,800.00. Following the completion of the transaction, the insider now directly owns 17,856,614 shares in the company, valued at approximately $339,275,666. The disclosure for this sale can be found here. 11.53% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MAX shares. Canaccord Genuity Group increased their target price on MediaAlpha from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Royal Bank of Canada increased their target price on shares of MediaAlpha from $12.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 21st. BMO Capital Markets raised shares of MediaAlpha from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $9.00 to $28.00 in a report on Monday, February 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of MediaAlpha from $18.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, MediaAlpha has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

MediaAlpha Stock Performance

Shares of MAX stock opened at $20.18 on Friday. MediaAlpha, Inc. has a 52 week low of $5.33 and a 52 week high of $25.78. The stock has a market capitalization of $1.33 billion, a PE ratio of -29.67 and a beta of 1.32. The stock’s fifty day moving average is $19.90 and its 200-day moving average is $14.62.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.09. The company had revenue of $126.60 million for the quarter, compared to the consensus estimate of $111.17 million. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.23) EPS. As a group, analysts forecast that MediaAlpha, Inc. will post -0.28 earnings per share for the current fiscal year.

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.