Graham Capital Management L.P. Has $725,000 Stake in MediaAlpha, Inc. (NYSE:MAX)

Graham Capital Management L.P. increased its stake in MediaAlpha, Inc. (NYSE:MAX) by 102.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 64,251 shares of the company’s stock after purchasing an additional 32,584 shares during the quarter. Graham Capital Management L.P.’s holdings in MediaAlpha were worth $725,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MAX. Covestor Ltd grew its holdings in MediaAlpha by 44.1% during the fourth quarter. Covestor Ltd now owns 2,766 shares of the company’s stock valued at $31,000 after purchasing an additional 847 shares during the last quarter. Quarry LP lifted its stake in shares of MediaAlpha by 107.1% in the fourth quarter. Quarry LP now owns 5,841 shares of the company’s stock worth $66,000 after buying an additional 3,021 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in shares of MediaAlpha during the 4th quarter worth $67,000. Walleye Capital LLC bought a new stake in shares of MediaAlpha during the 4th quarter worth $132,000. Finally, Tower Research Capital LLC TRC grew its stake in MediaAlpha by 173.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,462 shares of the company’s stock valued at $163,000 after buying an additional 9,169 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

MediaAlpha Stock Up 0.2%

Shares of MAX opened at $10.38 on Thursday. The stock’s 50-day moving average price is $8.90 and its 200 day moving average price is $10.85. MediaAlpha, Inc. has a 12-month low of $7.33 and a 12-month high of $20.91. The firm has a market capitalization of $695.77 million, a price-to-earnings ratio of 61.06 and a beta of 1.12.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, April 30th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). The firm had revenue of $264.31 million during the quarter, compared to analyst estimates of $236.07 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The business’s revenue for the quarter was up 108.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Equities research analysts expect that MediaAlpha, Inc. will post 0.48 EPS for the current year.

Analyst Upgrades and Downgrades

MAX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of MediaAlpha from $10.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. The Goldman Sachs Group cut their price objective on MediaAlpha from $14.00 to $12.50 and set a “buy” rating for the company in a research report on Monday, April 14th. Royal Bank of Canada lowered their target price on MediaAlpha from $20.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. BMO Capital Markets dropped their price target on MediaAlpha from $27.00 to $23.00 and set an “outperform” rating on the stock in a research report on Thursday, April 3rd. Finally, Canaccord Genuity Group reduced their price objective on MediaAlpha from $30.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.21.

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.