Alpha DNA Investment Management LLC Invests $348,000 in MediaAlpha, Inc. (NYSE:MAX)

Alpha DNA Investment Management LLC acquired a new stake in MediaAlpha, Inc. (NYSE:MAX) during the second quarter, Holdings Channel reports. The firm acquired 26,391 shares of the company’s stock, valued at approximately $348,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in shares of MediaAlpha in the second quarter worth about $65,000. Sandia Investment Management LP bought a new position in MediaAlpha in the 2nd quarter worth approximately $79,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake 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 in the last quarter. EntryPoint Capital LLC bought a new stake in MediaAlpha during the 1st quarter valued at $136,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of MediaAlpha during the first quarter worth $165,000. 64.39% of the stock is currently owned by institutional investors.

MediaAlpha Stock Down 0.2 %

NYSE:MAX opened at $18.13 on Thursday. The stock has a market cap of $1.20 billion, a P/E ratio of -26.65 and a beta of 1.22. The business’s 50-day moving average price is $16.56 and its two-hundred day moving average price is $17.40. MediaAlpha, Inc. has a twelve month low of $7.82 and a twelve month high of $25.78.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on MAX shares. TD Cowen cut MediaAlpha from a “buy” rating to a “hold” rating and reduced their price target for the company from $19.00 to $13.00 in a research report on Wednesday, June 26th. Keefe, Bruyette & Woods reaffirmed 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, The Goldman Sachs Group started coverage on shares of MediaAlpha in a report on Tuesday, August 20th. They issued a “buy” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus 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.