Victory Capital Management Inc. Acquires Shares of 36,220 MediaAlpha, Inc. (NYSE:MAX)

Victory Capital Management Inc. purchased a new position in MediaAlpha, Inc. (NYSE:MAX) during the 2nd quarter, HoldingsChannel reports. The fund purchased 36,220 shares of the company’s stock, valued at approximately $477,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of MediaAlpha by 354.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock valued at $114,000 after acquiring an additional 6,728 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of MediaAlpha during the 1st quarter worth approximately $136,000. Lazard Asset Management LLC purchased a new stake in MediaAlpha in the 1st quarter valued at $165,000. SYSTM Wealth Solutions LLC purchased a new stake in MediaAlpha in the 1st quarter valued at $178,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in MediaAlpha in the 2nd quarter valued at $225,000. 64.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MAX shares. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $26.00 price objective (up from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. Royal Bank of Canada boosted their price objective on shares of MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. The Goldman Sachs Group initiated coverage on shares of MediaAlpha in a research note on Tuesday, August 20th. They set a “buy” rating and a $20.00 price target on the stock. Finally, TD Cowen cut shares of MediaAlpha from a “buy” rating to a “hold” rating and lowered their price target for the stock from $19.00 to $13.00 in a research note on Wednesday, June 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.29.

MediaAlpha Trading Down 0.9 %

NYSE:MAX opened at $17.58 on Monday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -25.85 and a beta of 1.22. The company’s 50-day moving average is $16.32 and its two-hundred day moving average is $17.46. MediaAlpha, Inc. has a 12-month low of $7.77 and a 12-month high of $25.78.

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

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.