MediaAlpha, Inc. (NYSE:MAX) Shares Purchased by Ghisallo Capital Management LLC

Ghisallo Capital Management LLC grew its holdings in shares of MediaAlpha, Inc. (NYSE:MAX) by 535.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 487,500 shares of the company’s stock after acquiring an additional 410,764 shares during the period. Ghisallo Capital Management LLC’s holdings in MediaAlpha were worth $6,420,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MAX. Acadian Asset Management LLC acquired a new position in shares of MediaAlpha in the 1st quarter valued at approximately $1,118,000. Norden Group LLC raised its holdings in MediaAlpha by 1,767.2% in the first quarter. Norden Group LLC now owns 263,592 shares of the company’s stock valued at $5,369,000 after acquiring an additional 249,475 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in MediaAlpha in the fourth quarter valued at $1,364,000. Vanguard Group Inc. boosted its stake in MediaAlpha by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock valued at $43,168,000 after acquiring an additional 276,641 shares during the last quarter. Finally, TimesSquare Capital Management LLC acquired a new position in MediaAlpha during the 1st quarter worth $22,181,000. Institutional investors and hedge funds own 64.39% of the company’s stock.

Analysts Set New Price Targets

MAX has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $26.00 target price (up previously from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. TD Cowen cut MediaAlpha from a “buy” rating to a “hold” rating and cut their price objective for the company from $19.00 to $13.00 in a research note on Wednesday, June 26th. Finally, The Goldman Sachs Group assumed coverage on MediaAlpha in a report on Tuesday, August 20th. They issued a “buy” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, MediaAlpha has an average rating of “Moderate Buy” and an average target price of $24.29.

MediaAlpha Stock Down 2.1 %

MAX stock opened at $17.73 on Wednesday. The firm’s 50-day simple moving average is $16.84 and its 200 day simple moving average is $17.34. The stock has a market cap of $1.17 billion, a PE ratio of -26.07 and a beta of 1.22. MediaAlpha, Inc. has a fifty-two week low of $7.82 and a fifty-two week high of $25.78.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, July 31st. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. The business had revenue of $178.27 million for the quarter, compared to the consensus estimate of $151.40 million. The firm’s revenue was up 110.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.32) EPS. Equities analysts forecast that MediaAlpha, Inc. will post 0.35 EPS for the current fiscal year.

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.