MediaAlpha, Inc. (NYSE:MAX) Shares Purchased by Quest Partners LLC

Quest Partners LLC increased its stake in shares of MediaAlpha, Inc. (NYSE:MAX) by 1,011.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,201 shares of the company’s stock after purchasing an additional 20,203 shares during the period. Quest Partners LLC’s holdings in MediaAlpha were worth $292,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MAX. Vanguard Group Inc. grew its stake in MediaAlpha by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock valued at $43,168,000 after acquiring an additional 276,641 shares in the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of MediaAlpha in the 1st quarter valued at approximately $22,181,000. Emerald Advisers LLC grew its stake in shares of MediaAlpha by 51,407.5% in the 2nd quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock valued at $7,882,000 after buying an additional 597,355 shares during the period. Silvercrest Asset Management Group LLC grew its stake 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 valued at $7,649,000 after buying an additional 1,667 shares during the period. Finally, Emerald Mutual Fund Advisers Trust grew its stake in shares of MediaAlpha by 49.6% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 311,796 shares of the company’s stock valued at $4,106,000 after buying an additional 103,427 shares during the period. Institutional investors and hedge funds own 64.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MAX shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $26.00 price objective (up previously from $25.00) on shares of MediaAlpha in a research report on Thursday, August 1st. 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 for the company. TD Cowen cut shares of MediaAlpha from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $19.00 to $13.00 in a research report on Wednesday, June 26th. Finally, Royal Bank of Canada increased their price objective on shares of MediaAlpha from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 28th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.29.

MediaAlpha Stock Up 1.4 %

MediaAlpha stock opened at $17.52 on Friday. The firm has a market cap of $1.15 billion, a PE ratio of -25.76 and a beta of 1.22. MediaAlpha, Inc. has a 52-week low of $7.62 and a 52-week high of $25.78. The company’s 50 day moving average is $15.83 and its two-hundred day moving average is $17.59.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The firm had revenue of $178.27 million during the quarter, compared to analyst estimates of $151.40 million. During the same quarter in the previous year, the business posted ($0.32) earnings per share. MediaAlpha’s revenue for the quarter was up 110.3% compared to the same quarter last year. On average, equities research analysts anticipate 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.