Squarepoint Ops LLC Increases Holdings in MediaAlpha, Inc. (NYSE:MAX)

Squarepoint Ops LLC boosted its position in shares of MediaAlpha, Inc. (NYSE:MAX) by 373.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 50,339 shares of the company’s stock after purchasing an additional 39,702 shares during the quarter. Squarepoint Ops LLC owned about 0.08% of MediaAlpha worth $663,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of MAX. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its stake in shares of MediaAlpha by 5.1% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,890 shares of the company’s stock valued at $315,000 after buying an additional 1,150 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of MediaAlpha by 9.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock valued at $292,000 after purchasing an additional 1,235 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of MediaAlpha by 7.1% in the 2nd quarter. Hsbc Holdings PLC now owns 23,791 shares of the company’s stock valued at $312,000 after purchasing an additional 1,582 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of MediaAlpha by 0.4% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 375,509 shares of the company’s stock worth $7,649,000 after purchasing an additional 1,667 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of MediaAlpha by 7.3% during the second quarter. Rhumbline Advisers now owns 36,751 shares of the company’s stock valued at $484,000 after purchasing an additional 2,511 shares in the last quarter. 64.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on MAX shares. TD Cowen lowered MediaAlpha from a “buy” rating to a “hold” rating and lowered their target price for the stock from $19.00 to $13.00 in a report on Wednesday, June 26th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $26.00 price objective (up from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group began coverage on MediaAlpha in a research report on Tuesday, August 20th. They set a “buy” rating and a $20.00 price objective on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, MediaAlpha presently has a consensus rating of “Moderate Buy” and an average target price of $24.29.

MediaAlpha Price Performance

Shares of MAX stock opened at $16.89 on Wednesday. The stock’s fifty day moving average price is $17.09 and its 200 day moving average price is $17.28. MediaAlpha, Inc. has a 1-year low of $8.47 and a 1-year high of $25.78. The company has a market cap of $1.11 billion, a price-to-earnings ratio of -24.84 and a beta of 1.22.

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 for the quarter, compared to analyst estimates of $151.40 million. The business’s revenue was up 110.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.32) EPS. As a group, equities research analysts anticipate that MediaAlpha, Inc. will post 0.35 earnings per share for the current 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.