MediaAlpha, Inc. (NYSE:MAX) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MediaAlpha, Inc. (NYSE:MAX) by 354.9% during the second quarter, Holdings Channel reports. The firm owned 8,624 shares of the company’s stock after purchasing an additional 6,728 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MediaAlpha were worth $114,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. EntryPoint Capital LLC acquired a new position in shares of MediaAlpha during the 1st quarter valued at $136,000. Lazard Asset Management LLC acquired a new position in shares of MediaAlpha during the 1st quarter valued at $165,000. SYSTM Wealth Solutions LLC acquired a new position in shares of MediaAlpha during the 1st quarter valued at $178,000. Janus Henderson Group PLC acquired a new position in shares of MediaAlpha during the 1st quarter valued at $284,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of MediaAlpha by 9.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock valued at $292,000 after acquiring an additional 1,235 shares in the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MAX. Royal Bank of Canada lifted their target price on shares of MediaAlpha from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, May 28th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $26.00 price target (up previously from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. TD Cowen downgraded shares of MediaAlpha from a “buy” rating to a “hold” rating and dropped their price target for the stock from $19.00 to $13.00 in a research note on Wednesday, June 26th. Finally, The Goldman Sachs Group assumed coverage on shares of MediaAlpha in a research note on Tuesday, August 20th. They set a “buy” rating and a $20.00 price target on the stock. One equities 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $24.29.

MediaAlpha Price Performance

MediaAlpha stock opened at $16.85 on Wednesday. The firm’s fifty day moving average price is $15.55 and its 200 day moving average price is $17.65. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -24.78 and a beta of 1.22. MediaAlpha, Inc. has a 12-month low of $7.62 and a 12-month high of $25.78.

MediaAlpha (NYSE:MAX) last released 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 company had revenue of $178.27 million during the quarter, compared to the consensus estimate of $151.40 million. MediaAlpha’s revenue for the quarter was up 110.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.32) EPS. Analysts forecast that MediaAlpha, Inc. will post 0.35 earnings per share for the current fiscal 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.