Nantahala Capital Management LLC Sells 25,807 Shares of MediaAlpha, Inc. (NYSE:MAX)

Nantahala Capital Management LLC reduced its stake in shares of MediaAlpha, Inc. (NYSE:MAX) by 17.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,564 shares of the company’s stock after selling 25,807 shares during the quarter. Nantahala Capital Management LLC owned about 0.19% of MediaAlpha worth $1,627,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in shares of MediaAlpha by 5.1% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,890 shares of the company’s stock valued at $315,000 after buying an additional 1,150 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of MediaAlpha by 9.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company’s stock worth $292,000 after acquiring an additional 1,235 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of MediaAlpha by 7.1% during the second quarter. Hsbc Holdings PLC now owns 23,791 shares of the company’s stock worth $312,000 after purchasing an additional 1,582 shares during the period. Silvercrest Asset Management Group LLC lifted its holdings in shares of MediaAlpha by 0.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 375,509 shares of the company’s stock valued at $7,649,000 after purchasing an additional 1,667 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of MediaAlpha by 7.3% in the 2nd quarter. Rhumbline Advisers now owns 36,751 shares of the company’s stock valued at $484,000 after purchasing an additional 2,511 shares during the period. 64.39% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MAX. The Goldman Sachs Group assumed coverage on shares of MediaAlpha in a research report on Tuesday, August 20th. They set a “buy” rating and a $20.00 price objective for the company. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $26.00 target price (up previously from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. Finally, TD Cowen cut MediaAlpha from a “buy” rating to a “hold” rating and reduced their price objective for the stock 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $24.29.

MediaAlpha Stock Down 0.4 %

Shares of MediaAlpha stock opened at $18.11 on Tuesday. The stock has a market cap of $1.19 billion, a P/E ratio of -26.63 and a beta of 1.22. MediaAlpha, Inc. has a 12-month low of $7.82 and a 12-month high of $25.78. The business’s 50 day moving average is $16.78 and its 200-day moving average is $17.35.

MediaAlpha (NYSE:MAX) last released its quarterly earnings data 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 firm had revenue of $178.27 million for the quarter, compared to analyst estimates of $151.40 million. During the same quarter in the prior year, the firm earned ($0.32) earnings per share. The firm’s revenue for the quarter was up 110.3% on a year-over-year basis. On average, sell-side analysts expect that MediaAlpha, Inc. will post 0.35 EPS for the current year.

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.