MediaAlpha, Inc. (NYSE:MAX) Expected to Post Q2 2024 Earnings of $0.02 Per Share

MediaAlpha, Inc. (NYSE:MAX) – Investment analysts at William Blair upped their Q2 2024 earnings estimates for MediaAlpha in a report released on Wednesday, May 1st. William Blair analyst A. Klauber now forecasts that the company will post earnings of $0.02 per share for the quarter, up from their prior forecast of ($0.10). The consensus estimate for MediaAlpha’s current full-year earnings is ($0.28) per share. William Blair also issued estimates for MediaAlpha’s Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.05 EPS, FY2024 earnings at $0.09 EPS and FY2025 earnings at $0.40 EPS.

A number of other research analysts have also recently weighed in on MAX. JPMorgan Chase & Co. lifted their price target on shares of MediaAlpha from $18.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. 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 target on the stock. Royal Bank of Canada boosted their target price on shares of MediaAlpha from $12.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 21st. Canaccord Genuity Group boosted their target price on shares of MediaAlpha from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Finally, BMO Capital Markets raised shares of MediaAlpha from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $9.00 to $28.00 in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, MediaAlpha has an average rating of “Moderate Buy” and a consensus price target of $21.50.

MediaAlpha Stock Performance

MediaAlpha stock opened at $22.20 on Monday. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -32.65 and a beta of 1.32. MediaAlpha has a 1 year low of $5.33 and a 1 year high of $25.78. The firm has a 50 day moving average price of $19.90 and a 200 day moving average price of $14.49.

MediaAlpha (NYSE:MAX) last released its earnings results on Wednesday, May 1st. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.09. The company had revenue of $126.60 million during the quarter, compared to analysts’ expectations of $111.17 million. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. MediaAlpha’s revenue for the quarter was up 13.4% compared to the same quarter last year.

Insider Transactions at MediaAlpha

In related news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of MediaAlpha stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $19.85, for a total value of $58,557,500.00. Following the completion of the sale, the insider now owns 50,000 shares in the company, valued at $992,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 11.53% of the company’s stock.

Institutional Trading of MediaAlpha

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. TimesSquare Capital Management LLC bought a new stake in shares of MediaAlpha in the first quarter worth $22,181,000. Hartline Investment Corp bought a new stake in shares of MediaAlpha in the first quarter worth $463,000. Norden Group LLC increased its stake in MediaAlpha by 32.8% during the first quarter. Norden Group LLC now owns 18,750 shares of the company’s stock valued at $382,000 after purchasing an additional 4,633 shares during the last quarter. SYSTM Wealth Solutions LLC bought a new stake in MediaAlpha during the first quarter valued at $178,000. Finally, Los Angeles Capital Management LLC increased its stake in MediaAlpha by 125.8% during the first quarter. Los Angeles Capital Management LLC now owns 24,535 shares of the company’s stock valued at $500,000 after purchasing an additional 13,670 shares during the last quarter. Institutional investors own 64.39% of the company’s stock.

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.