AQR Capital Management LLC Acquires New Position in MediaAlpha, Inc. (NYSE:MAX)

AQR Capital Management LLC bought a new position in MediaAlpha, Inc. (NYSE:MAX) during the second quarter, Holdings Channel.com reports. The fund bought 15,639 shares of the company’s stock, valued at approximately $206,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Point72 DIFC Ltd purchased a new stake in shares of MediaAlpha in the second quarter valued at approximately $65,000. Sandia Investment Management LP purchased a new stake in shares of MediaAlpha in the 2nd quarter worth $79,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of MediaAlpha by 354.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock worth $114,000 after buying an additional 6,728 shares in the last quarter. EntryPoint Capital LLC purchased a new position in shares of MediaAlpha during the first quarter valued at $136,000. Finally, Lazard Asset Management LLC purchased a new position in shares of MediaAlpha during the first quarter valued at $165,000. 64.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on MAX. The Goldman Sachs Group started coverage on shares of MediaAlpha in a research note on Tuesday, August 20th. They issued a “buy” rating and a $20.00 price objective for the company. 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 report on Wednesday, June 26th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $26.00 price objective (up from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.29.

MediaAlpha Price Performance

MediaAlpha stock opened at $19.31 on Friday. MediaAlpha, Inc. has a 1-year low of $8.55 and a 1-year high of $25.78. The business has a fifty day moving average price of $17.53 and a 200-day moving average price of $17.23. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -28.40 and a beta of 1.22.

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

MediaAlpha Company 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.