Marshall Wace LLP Makes New $4.70 Million Investment in MediaAlpha, Inc. (NYSE:MAX)

Marshall Wace LLP bought a new stake in MediaAlpha, Inc. (NYSE:MAX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 357,027 shares of the company’s stock, valued at approximately $4,702,000. Marshall Wace LLP owned 0.54% of MediaAlpha as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in MediaAlpha during the first quarter valued at $1,118,000. Norden Group LLC boosted its stake in MediaAlpha by 1,767.2% during the first quarter. Norden Group LLC now owns 263,592 shares of the company’s stock worth $5,369,000 after acquiring an additional 249,475 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in MediaAlpha in the fourth quarter worth about $1,364,000. Vanguard Group Inc. increased its stake in shares of MediaAlpha by 15.0% during the first quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock valued at $43,168,000 after purchasing an additional 276,641 shares in the last quarter. Finally, TimesSquare Capital Management LLC purchased a new position in shares of MediaAlpha during the first quarter valued at approximately $22,181,000. 64.39% of the stock is currently owned by institutional investors.

MediaAlpha Price Performance

MAX stock opened at $17.73 on Wednesday. The stock has a market capitalization of $1.17 billion, a P/E ratio of -26.07 and a beta of 1.22. MediaAlpha, Inc. has a 1-year low of $7.82 and a 1-year high of $25.78. The business has a fifty day moving average price of $16.84 and a 200-day moving average price of $17.34.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MAX shares. Keefe, Bruyette & Woods restated an “outperform” rating and issued 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 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 report on Wednesday, June 26th. Finally, The Goldman Sachs Group began coverage on shares of MediaAlpha in a research note on Tuesday, August 20th. They issued 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. Based on data from MarketBeat.com, MediaAlpha has a consensus rating of “Moderate Buy” and an average price target of $24.29.

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.