MediaAlpha (NYSE:MAX) Releases Earnings Results, Beats Estimates By $0.04 EPS

MediaAlpha (NYSE:MAX) released its quarterly earnings results on Wednesday. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04, reports. The firm had revenue of $259.13 million for the quarter, compared to the consensus estimate of $246.96 million. MediaAlpha had a negative return on equity of 11.03% and a net margin of 1.41%. MediaAlpha updated its Q4 2024 guidance to EPS.

MediaAlpha Trading Down 4.4 %

NYSE MAX traded down $0.75 on Friday, hitting $16.38. 1,298,257 shares of the company traded hands, compared to its average volume of 559,612. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 96.35 and a beta of 1.22. The business’s 50 day moving average price is $18.05 and its 200-day moving average price is $17.22. MediaAlpha has a 52-week low of $8.55 and a 52-week high of $25.78.

Analyst Ratings Changes

A number of research firms have recently issued reports on MAX. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $26.00 price target (up from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. The Goldman Sachs Group lifted their target price on MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research report on Friday. One investment 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $25.14.

Insider Buying and Selling at MediaAlpha

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the sale, the insider now directly owns 1,550,990 shares of the company’s stock, valued at $32,058,963.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 11.53% of the company’s stock.

Institutional Investors Weigh In On MediaAlpha

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of MediaAlpha by 15.0% in the first quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock worth $43,168,000 after purchasing an additional 276,641 shares during the last quarter. Driehaus Capital Management LLC increased its holdings in shares of MediaAlpha by 208.4% in the second quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock worth $18,920,000 after purchasing an additional 970,840 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of MediaAlpha in the first quarter worth about $22,181,000. Divisadero Street Capital Management LP bought a new stake in shares of MediaAlpha in the second quarter worth about $7,956,000. Finally, Emerald Advisers LLC increased its holdings in shares of MediaAlpha by 51,407.5% in the second quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock worth $7,882,000 after purchasing an additional 597,355 shares during the last quarter. 64.39% of the stock is owned by institutional investors.

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.