Sei Investments Co. Buys 56,057 Shares of MediaAlpha, Inc. (NYSE:MAX)

Sei Investments Co. raised its position in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 45.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,202 shares of the company's stock after acquiring an additional 56,057 shares during the period. Sei Investments Co. owned approximately 0.27% of MediaAlpha worth $2,360,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of MediaAlpha by 354.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company's stock valued at $114,000 after acquiring an additional 6,728 shares during the period. EntryPoint Capital LLC acquired a new stake in MediaAlpha in the 1st quarter worth $136,000. Lazard Asset Management LLC bought a new position in shares of MediaAlpha during the 1st quarter worth about $165,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of MediaAlpha during the second quarter valued at about $225,000. Finally, Janus Henderson Group PLC bought a new stake in shares of MediaAlpha in the first quarter valued at about $284,000. 64.39% of the stock is owned by institutional investors and hedge funds.

MediaAlpha Price Performance

Shares of MediaAlpha stock traded up $0.51 during midday trading on Friday, hitting $18.06. 276,215 shares of the company were exchanged, compared to its average volume of 568,300. The firm has a 50 day simple moving average of $17.04 and a 200-day simple moving average of $17.34. The firm has a market cap of $1.19 billion, a P/E ratio of -26.56 and a beta of 1.22. MediaAlpha, Inc. has a 52 week low of $7.86 and a 52 week high of $25.78.

MediaAlpha (NYSE:MAX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.05. The company had revenue of $178.27 million for the quarter, compared to the consensus estimate of $151.40 million. During the same period in the previous year, the business posted ($0.32) earnings per share. The firm's revenue was up 110.3% compared to the same quarter last year. Equities research analysts expect that MediaAlpha, Inc. will post 0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

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