Millennium Management LLC Has $8.82 Million Holdings in MediaAlpha, Inc. (NYSE:MAX)

Millennium Management LLC grew its position in shares of MediaAlpha, Inc. (NYSE:MAX - Free Report) by 91.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 781,349 shares of the company's stock after buying an additional 372,305 shares during the quarter. Millennium Management LLC owned 1.17% of MediaAlpha worth $8,821,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of MAX. Covestor Ltd increased its holdings in shares of 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 purchasing an additional 847 shares in the last quarter. Quarry LP boosted its stake 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 during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of MediaAlpha in the fourth quarter worth approximately $67,000. Walleye Capital LLC acquired a new stake in shares of MediaAlpha in the fourth quarter worth approximately $132,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of MediaAlpha by 173.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 14,462 shares of the company's stock worth $163,000 after acquiring an additional 9,169 shares during the last quarter. Hedge funds and other institutional investors own 64.39% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on MAX shares. Canaccord Genuity Group cut their price target on shares of MediaAlpha from $30.00 to $26.00 and set a "buy" rating on the stock in a report on Monday, February 24th. The Goldman Sachs Group cut their price target on shares of MediaAlpha from $14.00 to $12.50 and set a "buy" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. raised their price target on shares of MediaAlpha from $10.00 to $12.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. BMO Capital Markets dropped their price objective on shares of MediaAlpha from $27.00 to $23.00 and set an "outperform" rating on the stock in a research note on Thursday, April 3rd. Finally, Royal Bank of Canada dropped their price objective on shares of MediaAlpha from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, MediaAlpha has a consensus rating of "Moderate Buy" and an average price target of $17.21.

MediaAlpha Trading Up 1.2%

NYSE:MAX traded up $0.13 on Thursday, hitting $10.52. 114,678 shares of the company's stock traded hands, compared to its average volume of 628,514. MediaAlpha, Inc. has a 1 year low of $7.33 and a 1 year high of $20.91. The firm has a 50-day moving average price of $9.10 and a 200-day moving average price of $10.47. The company has a market cap of $704.82 million, a PE ratio of 61.86 and a beta of 1.12.

MediaAlpha (NYSE:MAX - Get Free Report) last announced its quarterly 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). The firm had revenue of $264.31 million during the quarter, compared to the consensus estimate of $236.07 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.98%. The company's quarterly revenue was up 108.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.02) EPS. On average, research analysts forecast that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal 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.