MediaAlpha, Inc. (NYSE:MAX) Stock Position Raised by Acadian Asset Management LLC

Acadian Asset Management LLC lifted its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 248.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 191,433 shares of the company’s stock after buying an additional 136,422 shares during the period. Acadian Asset Management LLC owned 0.29% of MediaAlpha worth $2,516,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MAX. Nomura Holdings Inc. bought a new stake in shares of MediaAlpha during the 4th quarter valued at about $1,364,000. Los Angeles Capital Management LLC grew its position in shares of MediaAlpha by 125.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 24,535 shares of the company’s stock valued at $500,000 after buying an additional 13,670 shares during the last quarter. Norden Group LLC grew its position in MediaAlpha by 1,767.2% in the 1st quarter. Norden Group LLC now owns 263,592 shares of the company’s stock worth $5,369,000 after purchasing an additional 249,475 shares during the last quarter. SYSTM Wealth Solutions LLC bought a new position in MediaAlpha in the 1st quarter worth about $178,000. Finally, Hartline Investment Corp bought a new position in MediaAlpha in the 1st quarter worth about $463,000. Institutional investors own 64.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. TD Cowen cut shares of MediaAlpha from a “buy” rating to a “hold” rating and decreased their target price for the stock from $19.00 to $13.00 in a research report on Wednesday, June 26th. The Goldman Sachs Group assumed coverage on shares of MediaAlpha in a research report on Tuesday, August 20th. They issued a “buy” rating and a $20.00 target price for the company. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $26.00 target price (up previously from $25.00) on shares of MediaAlpha in a research report on Thursday, August 1st. Finally, Royal Bank of Canada upped their target price on shares of MediaAlpha from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 28th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, MediaAlpha presently has a consensus rating of “Moderate Buy” and an average price target of $24.29.

MediaAlpha Price Performance

MediaAlpha stock opened at $17.52 on Friday. The firm has a 50 day simple moving average of $15.83 and a 200-day simple moving average of $17.62. The stock has a market capitalization of $1.15 billion, a PE ratio of -25.76 and a beta of 1.22. MediaAlpha, Inc. has a 12-month low of $7.62 and a 12-month high of $25.78.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.05. The company had revenue of $178.27 million during the quarter, compared to the consensus estimate of $151.40 million. The company’s revenue was up 110.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.32) earnings per share. On average, analysts forecast that MediaAlpha, Inc. will post 0.35 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.