Lazard Asset Management LLC Decreases Stock Position in MediaAlpha, Inc. (NYSE:MAX)

Lazard Asset Management LLC cut its stake in MediaAlpha, Inc. (NYSE:MAXGet Rating) by 89.4% in the second quarter, HoldingsChannel reports. The firm owned 24,514 shares of the company’s stock after selling 206,887 shares during the quarter. Lazard Asset Management LLC’s holdings in MediaAlpha were worth $241,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MAX. Los Angeles Capital Management LLC lifted its holdings in MediaAlpha by 139.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 59,666 shares of the company’s stock worth $588,000 after buying an additional 34,793 shares during the last quarter. Prospera Financial Services Inc purchased a new stake in MediaAlpha during the 1st quarter worth about $28,000. Nisa Investment Advisors LLC purchased a new stake in MediaAlpha during the 2nd quarter worth about $28,000. Atria Investments LLC purchased a new stake in MediaAlpha during the 1st quarter worth about $1,136,000. Finally, Neuberger Berman Group LLC lifted its holdings in MediaAlpha by 23.3% during the 1st quarter. Neuberger Berman Group LLC now owns 41,169 shares of the company’s stock worth $682,000 after buying an additional 7,790 shares during the last quarter. 70.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MAX has been the topic of a number of research analyst reports. Citigroup cut their target price on MediaAlpha from $15.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 9th. William Blair reiterated an “outperform” rating on shares of MediaAlpha in a research report on Wednesday, October 26th.

MediaAlpha Stock Down 7.1 %

Shares of MAX stock opened at $12.72 on Friday. The stock has a market capitalization of $792.20 million, a PE ratio of -15.33 and a beta of 1.02. MediaAlpha, Inc. has a 52-week low of $7.59 and a 52-week high of $17.75. The stock’s 50-day moving average price is $10.50 and its 200 day moving average price is $10.27.

MediaAlpha (NYSE:MAXGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). The business had revenue of $89.02 million during the quarter, compared to the consensus estimate of $81.11 million. Analysts expect that MediaAlpha, Inc. will post -0.94 earnings per share for the current fiscal year.

MediaAlpha Company Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding MAX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MediaAlpha, Inc. (NYSE:MAXGet Rating).

Institutional Ownership by Quarter for MediaAlpha (NYSE:MAX)

Receive News & Ratings for MediaAlpha Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MediaAlpha and related companies with MarketBeat.com's FREE daily email newsletter.