Emerald Mutual Fund Advisers Trust Raises Stock Position in MediaAlpha, Inc. (NYSE:MAX)

Emerald Mutual Fund Advisers Trust raised its stake in shares of MediaAlpha, Inc. (NYSE:MAX) by 49.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 311,796 shares of the company’s stock after buying an additional 103,427 shares during the period. Emerald Mutual Fund Advisers Trust owned about 0.47% of MediaAlpha worth $4,106,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in shares of MediaAlpha in the first quarter worth approximately $1,118,000. Norden Group LLC grew its position 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 valued at $5,369,000 after acquiring an additional 249,475 shares during the period. Nomura Holdings Inc. purchased a new stake in shares of MediaAlpha in the 4th quarter worth $1,364,000. Vanguard Group Inc. increased its stake in shares of MediaAlpha by 15.0% in the 1st 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 in the last quarter. Finally, TimesSquare Capital Management LLC bought a new position in MediaAlpha in the 1st quarter worth $22,181,000. 64.39% of the stock is owned by institutional investors.

MediaAlpha Trading Down 2.7 %

NYSE MAX opened at $16.79 on Friday. MediaAlpha, Inc. has a 12 month low of $7.62 and a 12 month high of $25.78. The stock’s 50 day moving average is $15.36 and its 200 day moving average is $17.70. The stock has a market cap of $1.11 billion, a PE ratio of -24.69 and a beta of 1.22.

MediaAlpha (NYSE:MAX) last posted its earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share for the quarter, beating 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. The business’s revenue was up 110.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.32) earnings per share. On average, analysts forecast that MediaAlpha, Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on MAX shares. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $26.00 price target (up previously from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. The Goldman Sachs Group started coverage on MediaAlpha in a research note on Tuesday, August 20th. They set a “buy” rating and a $20.00 price objective for the company. TD Cowen cut shares of MediaAlpha from a “buy” rating to a “hold” rating and decreased their target price for the stock from $19.00 to $13.00 in a research note on Wednesday, June 26th. Finally, Royal Bank of Canada lifted their price target on shares of MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, MediaAlpha presently has an average rating of “Moderate Buy” and a consensus target price of $24.29.

MediaAlpha Company 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.