Millennium Management LLC Sells 132,763 Shares of MediaAlpha, Inc. (NYSE:MAX)

Millennium Management LLC lessened its position in MediaAlpha, Inc. (NYSE:MAX) by 21.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 477,019 shares of the company’s stock after selling 132,763 shares during the period. Millennium Management LLC owned 0.72% of MediaAlpha worth $6,282,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in MediaAlpha by 15.0% during the first quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock worth $43,168,000 after acquiring an additional 276,641 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in shares of MediaAlpha in the first quarter worth approximately $22,181,000. Divisadero Street Capital Management LP bought a new position in shares of MediaAlpha in the second quarter worth approximately $7,956,000. Emerald Advisers LLC boosted its position in shares of MediaAlpha by 51,407.5% during the second quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock worth $7,882,000 after acquiring an additional 597,355 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in MediaAlpha by 19.1% during the second quarter. Renaissance Technologies LLC now owns 470,000 shares of the company’s stock valued at $6,190,000 after acquiring an additional 75,400 shares in the last quarter. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Trading Up 6.5 %

NYSE:MAX opened at $18.26 on Friday. The company has a market cap of $1.20 billion, a PE ratio of -26.85 and a beta of 1.22. MediaAlpha, Inc. has a twelve month low of $8.51 and a twelve month high of $25.78. The company’s 50 day moving average is $17.23 and its two-hundred day moving average is $17.26.

MediaAlpha (NYSE:MAX) last released its earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.05. The company had revenue of $178.27 million for the quarter, compared to analysts’ expectations of $151.40 million. During the same period in the prior year, the firm posted ($0.32) EPS. The firm’s revenue for the quarter was up 110.3% on a year-over-year basis. As a group, analysts expect that MediaAlpha, Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MAX. The Goldman Sachs Group started coverage on shares of MediaAlpha in a research note on Tuesday, August 20th. They set a “buy” rating and a $20.00 target price for the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $26.00 price objective (up previously from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. Finally, TD Cowen lowered shares of MediaAlpha from a “buy” rating to a “hold” rating and decreased their price objective for the company from $19.00 to $13.00 in a report on Wednesday, June 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.29.

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.