Emerald Mutual Fund Advisers Trust Purchases 103,427 Shares of MediaAlpha, Inc. (NYSE:MAX)

Emerald Mutual Fund Advisers Trust increased its holdings in MediaAlpha, Inc. (NYSE:MAX) by 49.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 311,796 shares of the company’s stock after purchasing an additional 103,427 shares during the period. Emerald Mutual Fund Advisers Trust’s holdings in MediaAlpha were worth $4,106,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Nomura Holdings Inc. purchased a new stake in MediaAlpha during the fourth quarter valued at approximately $1,364,000. Los Angeles Capital Management LLC raised its holdings in MediaAlpha by 125.8% during the 1st quarter. Los Angeles Capital Management LLC now owns 24,535 shares of the company’s stock valued at $500,000 after buying an additional 13,670 shares during the period. Norden Group LLC lifted its position in MediaAlpha by 1,767.2% in the first quarter. Norden Group LLC now owns 263,592 shares of the company’s stock worth $5,369,000 after buying an additional 249,475 shares during the last quarter. SYSTM Wealth Solutions LLC purchased a new position in MediaAlpha during the first quarter worth $178,000. Finally, Hartline Investment Corp bought a new position in MediaAlpha during the first quarter valued at $463,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MAX shares. The Goldman Sachs Group initiated coverage on shares of MediaAlpha in a report on Tuesday, August 20th. They issued a “buy” rating and a $20.00 target price for the company. TD Cowen downgraded 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 note on Wednesday, June 26th. Royal Bank of Canada boosted their target price on MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, May 28th. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $26.00 price target (up from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.29.

MediaAlpha Stock Down 2.7 %

Shares of NYSE MAX opened at $16.79 on Friday. MediaAlpha, Inc. has a twelve month low of $7.62 and a twelve month high of $25.78. The firm has a market cap of $1.11 billion, a PE ratio of -24.69 and a beta of 1.22. The business has a fifty day simple moving average of $15.36 and a two-hundred day simple moving average of $17.70.

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