MediaAlpha, Inc. (NYSE:MAX) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC reduced its position in MediaAlpha, Inc. (NYSE:MAX) by 8.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,679,669 shares of the company’s stock after selling 411,094 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 7.11% of MediaAlpha worth $61,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in MediaAlpha during the first quarter worth approximately $1,118,000. Norden Group LLC increased its holdings in MediaAlpha by 1,767.2% in the 1st quarter. Norden Group LLC now owns 263,592 shares of the company’s stock valued at $5,369,000 after purchasing an additional 249,475 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in MediaAlpha in the 4th quarter valued at $1,364,000. Vanguard Group Inc. raised its position in MediaAlpha by 15.0% in the first quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock valued at $43,168,000 after purchasing an additional 276,641 shares during the period. Finally, TimesSquare Capital Management LLC acquired a new position in shares of MediaAlpha during the first quarter worth about $22,181,000. Institutional investors and hedge funds own 64.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MAX. Royal Bank of Canada increased their target price on MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. TD Cowen downgraded shares of MediaAlpha from a “buy” rating to a “hold” rating and lowered their price objective for the company from $19.00 to $13.00 in a research report on Wednesday, June 26th. The Goldman Sachs Group began coverage on shares of MediaAlpha in a research note 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 from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.29.

MediaAlpha Stock Down 0.9 %

MAX stock opened at $17.58 on Friday. The stock’s 50 day moving average is $16.32 and its two-hundred day moving average is $17.49. MediaAlpha, Inc. has a 52-week low of $7.77 and a 52-week high of $25.78. The company has a market capitalization of $1.16 billion, a PE ratio of -25.85 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The company had revenue of $178.27 million during the quarter, compared to the consensus estimate of $151.40 million. During the same quarter last year, the firm posted ($0.32) EPS. The firm’s quarterly revenue was up 110.3% on a year-over-year basis. As a group, sell-side analysts anticipate that MediaAlpha, Inc. will post 0.35 EPS for the current 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.