Daiwa Securities Group Inc. Sells 5,800 Shares of MediaAlpha, Inc. (NYSE:MAX)

Daiwa Securities Group Inc. trimmed its holdings in MediaAlpha, Inc. (NYSE:MAX) by 7.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,586 shares of the company’s stock after selling 5,800 shares during the quarter. Daiwa Securities Group Inc. owned 0.11% of MediaAlpha worth $916,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MediaAlpha by 354.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock worth $114,000 after acquiring an additional 6,728 shares in the last quarter. EntryPoint Capital LLC bought a new position in MediaAlpha in the first quarter valued at about $136,000. Lazard Asset Management LLC bought a new position in MediaAlpha during the first quarter worth about $165,000. SYSTM Wealth Solutions LLC bought a new position in MediaAlpha during the first quarter worth about $178,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in MediaAlpha during the second quarter worth about $225,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

MediaAlpha Stock Performance

Shares of NYSE:MAX opened at $17.52 on Monday. The business’s 50 day simple moving average is $15.83 and its two-hundred day simple moving average is $17.57. The firm has a market cap of $1.15 billion, a P/E 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.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, beating 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. The business’s revenue was up 110.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.32) earnings per share. On average, equities analysts forecast 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.