Squarepoint Ops LLC Buys 39,702 Shares of MediaAlpha, Inc. (NYSE:MAX)

Squarepoint Ops LLC increased its stake in MediaAlpha, Inc. (NYSE:MAX - Free Report) by 373.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 50,339 shares of the company's stock after purchasing an additional 39,702 shares during the period. Squarepoint Ops LLC owned approximately 0.08% of MediaAlpha worth $663,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in MediaAlpha in the first quarter worth approximately $1,118,000. Norden Group LLC boosted its stake in MediaAlpha by 1,767.2% in the first quarter. Norden Group LLC now owns 263,592 shares of the company's stock worth $5,369,000 after buying an additional 249,475 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in MediaAlpha in the fourth quarter worth approximately $1,364,000. Vanguard Group Inc. boosted 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 during the period. Finally, TimesSquare Capital Management LLC purchased a new stake 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 Trading Up 1.5 %

MAX traded up $0.25 during trading on Wednesday, reaching $17.14. The stock had a trading volume of 321,404 shares, compared to its average volume of 565,704. The stock's 50 day moving average is $17.14 and its two-hundred day moving average is $17.26. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -24.84 and a beta of 1.22. MediaAlpha, Inc. has a one year low of $8.51 and a one year high of $25.78.

MediaAlpha (NYSE:MAX - Get Free Report) last posted 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 firm had revenue of $178.27 million during the quarter, compared to the consensus estimate of $151.40 million. MediaAlpha's revenue for the quarter was up 110.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.32) EPS. On average, equities research analysts predict that MediaAlpha, Inc. will post 0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MAX. TD Cowen lowered MediaAlpha from a "buy" rating to a "hold" rating and dropped their price objective for the company from $19.00 to $13.00 in a research note on Wednesday, June 26th. The Goldman Sachs Group started coverage on MediaAlpha in a research note on Tuesday, August 20th. They set a "buy" rating and a $20.00 price objective for the company. Finally, Keefe, Bruyette & Woods reaffirmed 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company 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.