PDT Partners LLC Takes $1.24 Million Position in MediaAlpha, Inc. (NYSE:MAX)

PDT Partners LLC acquired a new stake in shares of MediaAlpha, Inc. (NYSE:MAX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 68,331 shares of the company’s stock, valued at approximately $1,237,000. PDT Partners LLC owned about 0.10% of MediaAlpha as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in MediaAlpha by 8.4% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,428 shares of the company’s stock valued at $1,330,000 after acquiring an additional 5,708 shares during the period. MetLife Investment Management LLC grew its position in MediaAlpha by 28.8% during the third quarter. MetLife Investment Management LLC now owns 17,446 shares of the company’s stock valued at $316,000 after buying an additional 3,906 shares during the period. Quantbot Technologies LP increased its holdings in MediaAlpha by 37.8% during the third quarter. Quantbot Technologies LP now owns 26,096 shares of the company’s stock valued at $473,000 after buying an additional 7,154 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in MediaAlpha by 11.9% in the third quarter. The Manufacturers Life Insurance Company now owns 11,368 shares of the company’s stock worth $206,000 after acquiring an additional 1,213 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of MediaAlpha during the 3rd quarter worth $262,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

MediaAlpha Price Performance

MAX opened at $12.63 on Monday. The company has a 50 day simple moving average of $16.09 and a two-hundred day simple moving average of $16.16. The firm has a market cap of $841.97 million, a P/E ratio of 74.29 and a beta of 1.23. MediaAlpha, Inc. has a 1-year low of $9.76 and a 1-year high of $25.78.

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

Analyst Ratings Changes

Separately, The Goldman Sachs Group upped their price objective on MediaAlpha from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.14.

Insider Transactions at MediaAlpha

In other news, insider Eugene Nonko sold 72,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were 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 of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Corporate insiders own 11.53% of the company’s stock.

About MediaAlpha

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.