nVerses Capital LLC Takes Position in MediaAlpha, Inc. (NYSE:MAX)

nVerses Capital LLC purchased a new position in shares of MediaAlpha, Inc. (NYSE:MAX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,400 shares of the company’s stock, valued at approximately $116,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of MediaAlpha during the 1st quarter worth approximately $1,118,000. Norden Group LLC lifted its stake in shares of MediaAlpha by 1,767.2% during the 1st quarter. Norden Group LLC now owns 263,592 shares of the company’s stock worth $5,369,000 after acquiring an additional 249,475 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of MediaAlpha by 15.0% during the 1st 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 during the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of MediaAlpha during the 1st quarter worth approximately $22,181,000. Finally, Hillsdale Investment Management Inc. bought a new stake in MediaAlpha during the 1st quarter valued at $4,062,000. 64.39% of the stock is owned by institutional investors.

MediaAlpha Price Performance

Shares of MAX stock opened at $19.46 on Monday. MediaAlpha, Inc. has a 1-year low of $8.55 and a 1-year high of $25.78. The stock’s fifty day moving average price is $17.61 and its 200 day moving average price is $17.19. The company has a market cap of $1.28 billion, a price-to-earnings ratio of -28.62 and a beta of 1.22.

MediaAlpha (NYSE:MAX) last announced 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 business had revenue of $178.27 million for the quarter, compared to analysts’ expectations of $151.40 million. During the same quarter last year, the firm earned ($0.32) earnings per share. The firm’s quarterly revenue was up 110.3% compared to the same quarter last year. As a group, equities research analysts anticipate that MediaAlpha, Inc. will post 0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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