OmniStar Financial Group Inc. Purchases New Stake in MediaAlpha, Inc. (NYSE:MAX)

OmniStar Financial Group Inc. bought a new position in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,879 shares of the company's stock, valued at approximately $523,000.

Other large investors have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in shares of MediaAlpha during the 2nd quarter valued at $65,000. Sandia Investment Management LP purchased a new stake in MediaAlpha during the second quarter valued at about $79,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MediaAlpha by 354.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company's stock worth $114,000 after acquiring an additional 6,728 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of MediaAlpha in the 3rd quarter worth about $116,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of MediaAlpha in the 2nd quarter valued at about $134,000. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MAX has been the subject of a number of research analyst reports. TD Cowen downgraded shares of MediaAlpha from a "buy" rating to a "hold" rating and dropped their target price for the stock from $19.00 to $13.00 in a research report on Wednesday, June 26th. Keefe, Bruyette & Woods reissued 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. Finally, The Goldman Sachs Group began coverage on shares of MediaAlpha in a report on Tuesday, August 20th. They set a "buy" rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.29.

MediaAlpha Stock Performance

Shares of MAX stock traded up $0.15 on Friday, hitting $19.46. The stock had a trading volume of 276,433 shares, compared to its average volume of 555,744. The stock's 50 day moving average is $17.61 and its 200-day moving average is $17.23. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -28.62 and a beta of 1.22. MediaAlpha, Inc. has a 52-week low of $8.55 and a 52-week 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 for the quarter, beating analysts' consensus estimates of $0.02 by $0.05. The firm had revenue of $178.27 million during the quarter, compared to analysts' expectations of $151.40 million. During the same period in the previous year, the company earned ($0.32) earnings per share. The business's quarterly revenue was up 110.3% on a year-over-year basis. Equities analysts expect that MediaAlpha, Inc. will post 0.35 earnings per share for the current 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.