Millennium Management LLC Purchases 372,305 Shares of MediaAlpha, Inc. (NYSE:MAX)

Millennium Management LLC lifted its holdings in MediaAlpha, Inc. (NYSE:MAX) by 91.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 781,349 shares of the company’s stock after acquiring an additional 372,305 shares during the quarter. Millennium Management LLC owned approximately 1.17% of MediaAlpha worth $8,821,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of MAX. TimesSquare Capital Management LLC raised its position in MediaAlpha by 77.7% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,628,815 shares of the company’s stock valued at $18,389,000 after purchasing an additional 712,410 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in shares of MediaAlpha by 2,683.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 476,342 shares of the company’s stock valued at $5,378,000 after buying an additional 459,227 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of MediaAlpha by 570.7% in the fourth quarter. AQR Capital Management LLC now owns 472,215 shares of the company’s stock valued at $5,331,000 after buying an additional 401,807 shares during the last quarter. CenterBook Partners LP raised its holdings in shares of MediaAlpha by 485.7% in the fourth quarter. CenterBook Partners LP now owns 471,864 shares of the company’s stock valued at $5,327,000 after buying an additional 391,298 shares during the last quarter. Finally, Norges Bank acquired a new position in MediaAlpha during the 4th quarter worth about $3,183,000. 64.39% of the stock is currently owned by institutional investors.

MediaAlpha Price Performance

MAX opened at $10.04 on Monday. The firm has a 50 day simple moving average of $9.06 and a 200 day simple moving average of $10.49. The company has a market cap of $672.65 million, a price-to-earnings ratio of 59.03 and a beta of 1.12. MediaAlpha, Inc. has a fifty-two week low of $7.33 and a fifty-two week high of $20.91.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.02). MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The company had revenue of $264.31 million during the quarter, compared to the consensus estimate of $236.07 million. During the same period last year, the company earned ($0.02) earnings per share. The business’s revenue was up 108.7% compared to the same quarter last year. As a group, analysts expect that MediaAlpha, Inc. will post 0.48 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MAX shares. The Goldman Sachs Group lowered their price objective on shares of MediaAlpha from $14.00 to $12.50 and set a “buy” rating for the company in a research report on Monday, April 14th. Royal Bank of Canada lowered their price target on shares of MediaAlpha from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Keefe, Bruyette & Woods reduced their price objective on MediaAlpha from $19.00 to $16.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Canaccord Genuity Group decreased their price objective on MediaAlpha from $30.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted their target price on MediaAlpha from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, May 1st. 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 currently has an average rating of “Moderate Buy” and a consensus price target of $17.21.

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.