Deerfield Management Company L.P. Series C Invests $364,000 in MediaAlpha, Inc. (NYSE:MAX)

Deerfield Management Company L.P. Series C purchased a new stake in shares of MediaAlpha, Inc. (NYSE:MAX) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 27,630 shares of the company’s stock, valued at approximately $364,000.

A number of other institutional investors also recently bought and sold shares of MAX. Point72 DIFC Ltd bought a new stake in MediaAlpha during the 2nd quarter valued at approximately $65,000. Sandia Investment Management LP purchased a new position in shares of MediaAlpha in the 2nd quarter valued at approximately $79,000. EntryPoint Capital LLC bought a new stake in shares of MediaAlpha during the first quarter valued at approximately $136,000. Lazard Asset Management LLC purchased a new stake in MediaAlpha in the first quarter worth $165,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in MediaAlpha by 354.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock worth $114,000 after purchasing an additional 6,728 shares in the last quarter. 64.39% of the stock is owned by institutional investors.

MediaAlpha Stock Performance

Shares of MAX stock opened at $18.19 on Friday. The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of -26.75 and a beta of 1.22. MediaAlpha, Inc. has a one year low of $7.82 and a one year high of $25.78. The company’s 50-day moving average is $16.71 and its 200 day moving average is $17.40.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The firm had revenue of $178.27 million for the quarter, compared to analysts’ expectations of $151.40 million. During the same quarter in the previous year, the company earned ($0.32) EPS. The company’s quarterly revenue was up 110.3% compared to the same quarter last year. As a group, research analysts predict that MediaAlpha, Inc. will post 0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on MAX shares. The Goldman Sachs Group began coverage on MediaAlpha in a research report on Tuesday, August 20th. They set a “buy” rating and a $20.00 price objective for the company. TD Cowen lowered shares of MediaAlpha from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $19.00 to $13.00 in a research note on Wednesday, June 26th. Finally, 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 research note 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, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.29.

About MediaAlpha

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.