MediaAlpha (NYSE:MAX) Issues Earnings Results

MediaAlpha (NYSE:MAX) released its quarterly earnings results on Wednesday. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.09, Briefing.com reports. The firm had revenue of $126.60 million for the quarter, compared to the consensus estimate of $111.17 million. During the same quarter in the previous year, the business posted ($0.23) EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. MediaAlpha updated its Q2 2024 guidance to EPS.

MediaAlpha Price Performance

Shares of NYSE MAX traded up $0.12 during trading on Friday, hitting $22.20. The stock had a trading volume of 1,211,882 shares, compared to its average volume of 433,425. The firm has a fifty day moving average of $19.89 and a two-hundred day moving average of $14.34. The company has a market capitalization of $1.46 billion, a PE ratio of -32.65 and a beta of 1.32. MediaAlpha has a 12 month low of $5.08 and a 12 month high of $25.78.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Canaccord Genuity Group boosted their target price on shares of MediaAlpha from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada lifted their price objective on shares of MediaAlpha from $12.00 to $18.00 and gave the company an “outperform” rating in a research note on Wednesday, February 21st. TD Cowen assumed coverage on shares of MediaAlpha in a research report on Wednesday, January 10th. They set an “outperform” rating and a $15.00 price objective on the stock. BMO Capital Markets raised MediaAlpha from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $9.00 to $28.00 in a research report on Monday, February 26th. Finally, JPMorgan Chase & Co. raised their price objective on MediaAlpha from $18.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MediaAlpha currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

Insider Activity at MediaAlpha

In other news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.85, for a total value of $58,557,500.00. Following the transaction, the insider now owns 50,000 shares in the company, valued at approximately $992,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 11.53% of the stock is owned by insiders.

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.