Lighthouse Investment Partners LLC Makes New $4 Million Investment in MediaAlpha, Inc. (NYSE:MAX)

Lighthouse Investment Partners LLC acquired a new stake in shares of MediaAlpha, Inc. (NYSE:MAX) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 303,893 shares of the company’s stock, valued at approximately $4,002,000.

Other hedge funds have also recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new position in MediaAlpha during the 2nd quarter valued at about $65,000. Sandia Investment Management LP purchased a new position in shares of MediaAlpha during the second quarter valued at approximately $79,000. EntryPoint Capital LLC bought a new stake in MediaAlpha during the first quarter worth $136,000. Lazard Asset Management LLC purchased a new stake in MediaAlpha in the 1st quarter valued at $165,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in MediaAlpha by 354.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock valued at $114,000 after buying an additional 6,728 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

MediaAlpha Stock Performance

NYSE MAX opened at $18.19 on Friday. The company has a market capitalization of $1.20 billion, a PE ratio of -26.75 and a beta of 1.22. MediaAlpha, Inc. has a 52-week low of $7.82 and a 52-week high of $25.78. The company has a 50-day simple moving average of $16.71 and a 200 day simple moving average of $17.40.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.07 EPS 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 analysts’ expectations of $151.40 million. During the same quarter in the previous year, the company posted ($0.32) EPS. MediaAlpha’s revenue for the quarter was up 110.3% on a year-over-year basis. As a group, analysts forecast that MediaAlpha, Inc. will post 0.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on MAX. TD Cowen lowered shares of MediaAlpha from a “buy” rating to a “hold” rating and reduced their target price for the stock from $19.00 to $13.00 in a research note on Wednesday, June 26th. The Goldman Sachs Group started coverage on shares of MediaAlpha in a research report on Tuesday, August 20th. They issued a “buy” rating and a $20.00 price objective for the company. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $26.00 target price (up previously from $25.00) on shares of MediaAlpha in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, MediaAlpha currently has an average rating of “Moderate Buy” and a consensus price target 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.