Sei Investments Co. Has $2.36 Million Holdings in MediaAlpha, Inc. (NYSE:MAX)

Sei Investments Co. grew its holdings in MediaAlpha, Inc. (NYSE:MAX) by 45.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 179,202 shares of the company’s stock after acquiring an additional 56,057 shares during the period. Sei Investments Co.’s holdings in MediaAlpha were worth $2,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MAX. Nomura Holdings Inc. bought a new stake in shares of MediaAlpha during the 4th quarter worth about $1,364,000. Los Angeles Capital Management LLC boosted its holdings in shares of MediaAlpha by 125.8% during the first quarter. Los Angeles Capital Management LLC now owns 24,535 shares of the company’s stock worth $500,000 after acquiring an additional 13,670 shares during the period. Norden Group LLC grew its position in shares of 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 purchasing an additional 249,475 shares during the last quarter. Hartline Investment Corp bought a new position in shares of MediaAlpha during the first quarter worth approximately $463,000. Finally, TimesSquare Capital Management LLC acquired a new stake in MediaAlpha during the 1st quarter worth approximately $22,181,000. 64.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

MAX has been the topic of several recent research reports. The Goldman Sachs Group initiated coverage on MediaAlpha in a research report on Tuesday, August 20th. They set a “buy” rating and a $20.00 price objective on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $26.00 price target (up from $25.00) on shares of MediaAlpha in a research report on Thursday, August 1st. Finally, TD Cowen downgraded shares of 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 report on Wednesday, June 26th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.29.

MediaAlpha Trading Up 2.8 %

Shares of NYSE MAX opened at $18.04 on Friday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -26.53 and a beta of 1.22. MediaAlpha, Inc. has a 12 month low of $7.86 and a 12 month high of $25.78. The stock has a 50-day moving average price of $16.97 and a two-hundred day moving average price of $17.34.

MediaAlpha (NYSE:MAX) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. The company 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 company earned ($0.32) earnings per share. MediaAlpha’s revenue for the quarter was up 110.3% compared to the same quarter last year. On average, sell-side analysts predict that MediaAlpha, Inc. will post 0.35 earnings per share 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.