Driehaus Capital Management LLC Sells 1,286,638 Shares of MediaAlpha, Inc. (NYSE:MAX)

Driehaus Capital Management LLC trimmed its stake in MediaAlpha, Inc. (NYSE:MAX - Free Report) by 57.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 960,757 shares of the company's stock after selling 1,286,638 shares during the period. Driehaus Capital Management LLC owned 1.44% of MediaAlpha worth $10,847,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MAX. Barclays PLC boosted its holdings in MediaAlpha by 423.2% during the third quarter. Barclays PLC now owns 66,525 shares of the company's stock valued at $1,204,000 after acquiring an additional 53,809 shares during the period. Franklin Resources Inc. lifted its position in shares of MediaAlpha by 100.1% during the 3rd quarter. Franklin Resources Inc. now owns 128,604 shares of the company's stock worth $2,432,000 after purchasing an additional 64,331 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in MediaAlpha by 655.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 80,071 shares of the company's stock valued at $1,450,000 after purchasing an additional 69,477 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in MediaAlpha by 73.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 21,140 shares of the company's stock valued at $239,000 after buying an additional 8,938 shares during the last quarter. Finally, Stoneridge Investment Partners LLC acquired a new stake in MediaAlpha in the 4th quarter valued at approximately $311,000. 64.39% of the stock is currently owned by institutional investors and hedge funds.

MediaAlpha Trading Up 3.2%

MAX stock traded up $0.32 during trading on Monday, hitting $10.34. The company had a trading volume of 357,368 shares, compared to its average volume of 640,350. The company has a fifty day moving average price of $8.84 and a two-hundred day moving average price of $10.85. MediaAlpha, Inc. has a fifty-two week low of $7.33 and a fifty-two week high of $20.91. The company has a market cap of $693.36 million, a P/E ratio of 60.85 and a beta of 1.12.

MediaAlpha (NYSE:MAX - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The firm had revenue of $264.31 million during the quarter, compared to analyst estimates of $236.07 million. During the same quarter in the prior year, the firm posted ($0.02) EPS. The firm's revenue for the quarter was up 108.7% on a year-over-year basis. On average, analysts expect that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

Analysts Set New Price Targets

MAX has been the topic of several research analyst reports. The Goldman Sachs Group lowered their price objective on shares of MediaAlpha from $14.00 to $12.50 and set a "buy" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada lowered their price objective on MediaAlpha from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Canaccord Genuity Group reduced their target price on MediaAlpha from $30.00 to $26.00 and set a "buy" rating for the company in a research report on Monday, February 24th. JPMorgan Chase & Co. lifted their price target on shares of MediaAlpha from $10.00 to $12.00 and gave the stock an "overweight" rating in a research note on Thursday, May 1st. Finally, BMO Capital Markets dropped their price objective on shares of MediaAlpha from $27.00 to $23.00 and set an "outperform" rating for the company in a research note on Thursday, April 3rd. 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 has a consensus rating of "Moderate Buy" and a consensus price target of $17.21.

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.