SG Americas Securities LLC Acquires New Stake in MediaAlpha, Inc. (NYSE:MAX)

SG Americas Securities LLC acquired a new stake in shares of MediaAlpha, Inc. (NYSE:MAX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,887 shares of the company’s stock, valued at approximately $396,000.

Other large investors also recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in MediaAlpha during the second quarter worth about $65,000. Sandia Investment Management LP bought a new stake in MediaAlpha during the second quarter worth about $79,000. EntryPoint Capital LLC bought a new stake in MediaAlpha during the first quarter worth about $136,000. Lazard Asset Management LLC bought a new stake in MediaAlpha during the first quarter worth about $165,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted 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 purchasing an additional 6,728 shares during the last quarter. Institutional investors own 64.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MAX shares. 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 note on Thursday, August 1st. The Goldman Sachs Group began coverage on MediaAlpha in a report on Tuesday, August 20th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, TD Cowen downgraded MediaAlpha from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $19.00 to $13.00 in a report on Wednesday, June 26th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, MediaAlpha has a consensus rating of “Moderate Buy” and an average price target of $24.29.

MediaAlpha Price Performance

Shares of NYSE:MAX opened at $19.31 on Friday. MediaAlpha, Inc. has a 1 year low of $8.55 and a 1 year high of $25.78. The company has a market cap of $1.27 billion, a PE ratio of -28.40 and a beta of 1.22. The stock’s 50-day moving average is $17.53 and its 200 day moving average is $17.23.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share (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. During the same quarter in the prior year, the firm earned ($0.32) EPS. The firm’s revenue for the quarter was up 110.3% on a year-over-year basis. Analysts expect that MediaAlpha, Inc. will post 0.35 EPS for the current fiscal year.

MediaAlpha 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.