Driehaus Capital Management LLC Purchases 970,840 Shares of MediaAlpha, Inc. (NYSE:MAX)

Driehaus Capital Management LLC lifted its position in MediaAlpha, Inc. (NYSE:MAX) by 208.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,436,615 shares of the company’s stock after acquiring an additional 970,840 shares during the period. Driehaus Capital Management LLC owned 2.18% of MediaAlpha worth $18,920,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MAX. Point72 DIFC Ltd bought a new position in shares of MediaAlpha in the 2nd quarter worth approximately $65,000. Sandia Investment Management LP bought a new position in shares of MediaAlpha in the 2nd quarter worth approximately $79,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of MediaAlpha by 354.9% in the 2nd 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. The Manufacturers Life Insurance Company bought a new position in shares of MediaAlpha in the 2nd quarter worth approximately $134,000. Finally, EntryPoint Capital LLC bought a new position in MediaAlpha during the 1st quarter valued at approximately $136,000. Institutional investors own 64.39% of the company’s stock.

MediaAlpha Trading Up 2.7 %

Shares of MAX opened at $18.19 on Friday. The business’s fifty day simple moving average is $16.71 and its two-hundred day simple moving average is $17.38. MediaAlpha, Inc. has a 12 month low of $7.82 and a 12 month high of $25.78. The company has a market cap of $1.20 billion, a price-to-earnings ratio of -26.75 and a beta of 1.22.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, beating the consensus estimate 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 business posted ($0.32) earnings per share. The business’s revenue for the quarter was up 110.3% on a year-over-year basis. As a group, research analysts forecast that MediaAlpha, Inc. will post 0.35 EPS for the current year.

Wall Street Analysts Forecast Growth

MAX has been the subject of a number of analyst reports. TD Cowen lowered MediaAlpha from a “buy” rating to a “hold” rating and reduced their price objective for the company from $19.00 to $13.00 in a research report on Wednesday, June 26th. The Goldman Sachs Group initiated coverage on MediaAlpha in a research report on Tuesday, August 20th. They set a “buy” rating and a $20.00 price objective for the company. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $26.00 price objective (up previously from $25.00) on shares of MediaAlpha in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently 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.