MediaAlpha, Inc. (NYSE:MAX) Position Increased by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in MediaAlpha, Inc. (NYSE:MAX) by 7.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,751 shares of the company’s stock after buying an additional 2,511 shares during the quarter. Rhumbline Advisers owned 0.06% of MediaAlpha worth $484,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. EntryPoint Capital LLC acquired a new stake in shares of MediaAlpha during the first quarter worth $136,000. Lazard Asset Management LLC purchased a new position in MediaAlpha in the 1st quarter worth about $165,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in 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 during the period. SYSTM Wealth Solutions LLC purchased a new stake in MediaAlpha during the first quarter valued at about $178,000. Finally, Janus Henderson Group PLC acquired a new position in shares of MediaAlpha in the first quarter worth about $284,000. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Stock Performance

Shares of MAX opened at $18.13 on Thursday. The company has a market capitalization of $1.20 billion, a PE ratio of -26.65 and a beta of 1.22. The company’s 50 day moving average price is $16.56 and its 200 day moving average price is $17.40. MediaAlpha, Inc. has a 52 week low of $7.82 and a 52 week high of $25.78.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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. During the same period last year, the business earned ($0.32) EPS. The company’s quarterly revenue was up 110.3% on a year-over-year basis. On average, equities analysts forecast that MediaAlpha, Inc. will post 0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MAX shares. TD Cowen lowered shares of MediaAlpha from a “buy” rating to a “hold” rating and cut their price target for the company from $19.00 to $13.00 in a report on Wednesday, June 26th. The Goldman Sachs Group started coverage on shares of MediaAlpha in a research report on Tuesday, August 20th. They set a “buy” rating and a $20.00 price objective on the stock. Finally, 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 report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.29.

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.