MediaAlpha (NYSE:MAX) Releases Earnings Results, Beats Estimates By $0.25 EPS

MediaAlpha (NYSE:MAX) issued its quarterly earnings data on Monday. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.25, FiscalAI reports. The firm had revenue of $291.16 million during the quarter, compared to the consensus estimate of $296.42 million. MediaAlpha had a negative return on equity of 71.02% and a negative net margin of 0.10%.

MediaAlpha Stock Down 1.9%

MediaAlpha stock traded down $0.15 during mid-day trading on Monday, reaching $7.69. 1,656,996 shares of the company’s stock were exchanged, compared to its average volume of 797,747. MediaAlpha has a twelve month low of $7.09 and a twelve month high of $13.92. The company has a market cap of $501.16 million, a P/E ratio of -256.25 and a beta of 1.29. The company has a fifty day moving average of $10.77 and a 200-day moving average of $11.45.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 target price on shares of MediaAlpha in a research note on Thursday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of MediaAlpha from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Keefe, Bruyette & Woods boosted their target price on MediaAlpha from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. The Goldman Sachs Group set a $13.50 price target on MediaAlpha in a research note on Friday, October 31st. Finally, Wall Street Zen raised MediaAlpha from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 11th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.25.

Insider Buying and Selling at MediaAlpha

In related news, insider Steven Yi sold 4,000 shares of MediaAlpha stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $7.29, for a total value of $29,160.00. Following the completion of the transaction, the insider directly owned 2,709,624 shares in the company, valued at approximately $19,753,158.96. This trade represents a 0.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Jeffrey B. Coyne sold 5,000 shares of the business’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $7.30, for a total value of $36,500.00. Following the transaction, the general counsel directly owned 436,783 shares of the company’s stock, valued at $3,188,515.90. The trade was a 1.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 495,000 shares of company stock valued at $5,820,802. Insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Millennium Management LLC boosted its position in shares of MediaAlpha by 680.9% during the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock worth $16,268,000 after acquiring an additional 1,246,493 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of MediaAlpha by 1,261.9% in the 3rd quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock valued at $8,089,000 after purchasing an additional 658,625 shares during the last quarter. Lazard Asset Management LLC purchased a new position in MediaAlpha in the 2nd quarter valued at $4,268,000. Lighthouse Investment Partners LLC increased its stake in shares of MediaAlpha by 831.7% during the third quarter. Lighthouse Investment Partners LLC now owns 353,930 shares of the company’s stock worth $4,028,000 after acquiring an additional 315,943 shares during the period. Finally, JPMorgan Chase & Co. increased its position in MediaAlpha by 29.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company’s stock worth $17,714,000 after purchasing an additional 309,455 shares during the period. Hedge funds and other institutional investors own 64.39% of the company’s stock.

MediaAlpha Company Profile

MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company’s platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.

The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.