Federated Hermes Inc. Raises Stake in MediaAlpha, Inc. (NYSE:MAX)

Federated Hermes Inc. raised its stake in shares of MediaAlpha, Inc. (NYSE:MAX) by 29.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 121,566 shares of the company’s stock after buying an additional 27,306 shares during the quarter. Federated Hermes Inc. owned about 0.18% of MediaAlpha worth $1,601,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Acadian Asset Management LLC purchased a new position in MediaAlpha during the first quarter valued at approximately $1,118,000. Norden Group LLC boosted 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 during the period. Nomura Holdings Inc. purchased a new position in shares of MediaAlpha during the 4th quarter valued at $1,364,000. Vanguard Group Inc. increased its holdings in shares of MediaAlpha by 15.0% in the first quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock worth $43,168,000 after purchasing an additional 276,641 shares during the period. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of MediaAlpha in the first quarter worth $22,181,000. 64.39% of the stock is currently owned by institutional investors.

MediaAlpha Stock Performance

Shares of MediaAlpha stock opened at $17.58 on Friday. MediaAlpha, Inc. has a 52-week low of $7.77 and a 52-week high of $25.78. The company has a fifty day moving average of $16.32 and a 200-day moving average of $17.49. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -25.85 and a beta of 1.22.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data 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 company had revenue of $178.27 million for the quarter, compared to the consensus estimate of $151.40 million. The firm’s quarterly revenue was up 110.3% compared to the same quarter last year. During the same period last year, the business posted ($0.32) earnings per share. On average, equities research analysts forecast that MediaAlpha, Inc. will post 0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. 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. TD Cowen cut shares of 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 research report on Wednesday, June 26th. The Goldman Sachs Group assumed coverage on shares of MediaAlpha in a research report on Tuesday, August 20th. They set a “buy” rating and a $20.00 target price for the company. Finally, Royal Bank of Canada increased their price target on shares of MediaAlpha from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, May 28th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.29.

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.