Hillsdale Investment Management Inc. Purchases New Position in MediaAlpha, Inc. (NYSE:MAX)

Hillsdale Investment Management Inc. purchased a new stake in MediaAlpha, Inc. (NYSE:MAX) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 199,400 shares of the company’s stock, valued at approximately $4,062,000. Hillsdale Investment Management Inc. owned approximately 0.30% of MediaAlpha as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Tower Research Capital LLC TRC boosted its position in MediaAlpha by 111.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock worth $50,000 after purchasing an additional 2,343 shares during the period. Baker Tilly Wealth Management LLC boosted its position in MediaAlpha by 13.7% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock worth $154,000 after purchasing an additional 1,660 shares during the period. SYSTM Wealth Solutions LLC bought a new stake in MediaAlpha during the first quarter worth approximately $178,000. Portside Wealth Group LLC boosted its position in MediaAlpha by 9.1% during the fourth quarter. Portside Wealth Group LLC now owns 18,755 shares of the company’s stock worth $209,000 after purchasing an additional 1,567 shares during the period. Finally, Picton Mahoney Asset Management boosted its position in MediaAlpha by 211.2% during the fourth quarter. Picton Mahoney Asset Management now owns 20,480 shares of the company’s stock worth $229,000 after purchasing an additional 13,900 shares during the period. Institutional investors own 64.39% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Canaccord Genuity Group increased their price objective on MediaAlpha from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. TD Cowen cut MediaAlpha from a “buy” rating to a “hold” rating and reduced their price objective for the company from $19.00 to $13.00 in a research report on Wednesday, June 26th. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $25.00 target price (up from $19.00) on shares of MediaAlpha in a research note on Wednesday, May 15th. JPMorgan Chase & Co. upped their target price on MediaAlpha from $18.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Finally, Royal Bank of Canada upped their target price on MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.43.

MediaAlpha Price Performance

Shares of MAX stock traded up $0.35 during trading hours on Monday, hitting $14.53. 685,724 shares of the company’s stock were exchanged, compared to its average volume of 536,499. The stock’s 50-day moving average is $15.93 and its 200-day moving average is $16.85. The stock has a market cap of $956.66 million, a price-to-earnings ratio of -21.37 and a beta of 1.20. MediaAlpha, Inc. has a 52 week low of $7.62 and a 52 week high of $25.78.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, May 1st. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.09. The business had revenue of $126.60 million for the quarter, compared to the consensus estimate of $111.17 million. MediaAlpha’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.23) EPS. Equities research analysts forecast that MediaAlpha, Inc. will post 0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $19.00, for a total transaction of $49,206,200.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other MediaAlpha news, major shareholder Mountains Insurance Grou White sold 5,000,200 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $19.00, for a total transaction of $95,003,800.00. Following the transaction, the insider now owns 17,856,614 shares in the company, valued at $339,275,666. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $19.00, for a total value of $49,206,200.00. The disclosure for this sale can be found here. Company insiders own 11.53% of the company’s stock.

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.