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

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

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd grew its stake in MediaAlpha by 44.1% in the 4th quarter. Covestor Ltd now owns 2,766 shares of the company's stock valued at $31,000 after buying an additional 847 shares during the last quarter. Quarry LP grew its position in shares of MediaAlpha by 107.1% during the 4th quarter. Quarry LP now owns 5,841 shares of the company's stock worth $66,000 after purchasing an additional 3,021 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of MediaAlpha during the 4th quarter worth approximately $67,000. Walleye Capital LLC acquired a new position in shares of MediaAlpha during the 4th quarter worth approximately $132,000. Finally, Wells Fargo & Company MN grew its position in shares of MediaAlpha by 42.0% during the 4th quarter. Wells Fargo & Company MN now owns 14,409 shares of the company's stock worth $163,000 after purchasing an additional 4,264 shares in the last quarter. Institutional investors and hedge funds own 64.39% of the company's stock.

MediaAlpha Stock Up 2.5%

NYSE MAX traded up $0.26 on Thursday, hitting $10.65. The company's stock had a trading volume of 205,674 shares, compared to its average volume of 638,013. MediaAlpha, Inc. has a 1-year low of $7.33 and a 1-year high of $20.91. The company's 50-day moving average is $8.90 and its 200 day moving average is $10.85. The firm has a market cap of $713.53 million, a PE ratio of 62.59 and a beta of 1.12.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MAX. The Goldman Sachs Group cut their price target on shares of MediaAlpha from $14.00 to $12.50 and set a "buy" rating for the company in a report on Monday, April 14th. JPMorgan Chase & Co. upped their price target on shares of MediaAlpha from $10.00 to $12.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. BMO Capital Markets cut their price target on shares of MediaAlpha from $27.00 to $23.00 and set an "outperform" rating for the company in a report on Thursday, April 3rd. Keefe, Bruyette & Woods cut their price target on shares of MediaAlpha from $19.00 to $16.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Finally, Canaccord Genuity Group cut their price target on shares of MediaAlpha from $30.00 to $26.00 and set a "buy" rating for the company in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.21.

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.