Ghisallo Capital Management LLC Raises Stake in MediaAlpha, Inc. (NYSE:MAX)

Ghisallo Capital Management LLC increased its stake in MediaAlpha, Inc. (NYSE:MAX) by 535.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 487,500 shares of the company’s stock after purchasing an additional 410,764 shares during the quarter. Ghisallo Capital Management LLC owned 0.74% of MediaAlpha worth $6,420,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new position in shares of MediaAlpha during the 2nd quarter worth approximately $65,000. Sandia Investment Management LP acquired a new position in shares of MediaAlpha in the second quarter worth $79,000. EntryPoint Capital LLC acquired a new position in shares of MediaAlpha in the first quarter worth $136,000. Lazard Asset Management LLC purchased a new stake in shares of MediaAlpha in the first quarter valued at $165,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of MediaAlpha by 354.9% during 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 last quarter. 64.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

MediaAlpha Trading Down 2.1 %

Shares of MediaAlpha stock opened at $17.73 on Wednesday. The business’s fifty day moving average price is $16.84 and its 200 day moving average price is $17.34. MediaAlpha, Inc. has a twelve month low of $7.82 and a twelve month high of $25.78. The stock has a market capitalization of $1.17 billion, a P/E ratio of -26.07 and a beta of 1.22.

MediaAlpha (NYSE:MAX) last released its quarterly earnings data 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 firm had revenue of $178.27 million during the quarter, compared to analyst estimates of $151.40 million. During the same period in the prior year, the firm earned ($0.32) earnings per share. The business’s revenue for the quarter was up 110.3% on a year-over-year basis. As a group, sell-side analysts predict that MediaAlpha, Inc. will post 0.35 EPS 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.