William Blair Weighs in on MediaAlpha, Inc.’s Q2 2022 Earnings (NYSE:MAX)

MediaAlpha, Inc. (NYSE:MAXGet Rating) – Stock analysts at William Blair cut their Q2 2022 EPS estimates for MediaAlpha in a report released on Tuesday, August 2nd. William Blair analyst A. Klauber now anticipates that the company will earn ($0.26) per share for the quarter, down from their previous estimate of ($0.25). The consensus estimate for MediaAlpha’s current full-year earnings is ($0.60) per share. William Blair also issued estimates for MediaAlpha’s Q3 2022 earnings at ($0.14) EPS, Q4 2022 earnings at ($0.03) EPS and FY2023 earnings at ($0.41) EPS.

MediaAlpha (NYSE:MAXGet Rating) last posted its earnings results on Thursday, May 5th. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.07). The firm had revenue of $142.60 million for the quarter, compared to the consensus estimate of $141.20 million. MediaAlpha’s quarterly revenue was down 17.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 earnings per share.

Separately, Royal Bank of Canada reduced their price objective on shares of MediaAlpha from $18.00 to $13.00 in a research report on Friday, May 13th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $20.50.

MediaAlpha Price Performance

NYSE:MAX opened at $10.01 on Friday. MediaAlpha has a one year low of $8.48 and a one year high of $30.73. The firm has a 50-day moving average of $10.68 and a 200-day moving average of $12.67. The company has a market cap of $611.83 million, a PE ratio of -26.32 and a beta of 0.87.

Insiders Place Their Bets

In other news, insider Patrick Ryan Thompson bought 10,000 shares of the stock in a transaction on Tuesday, June 14th. The shares were acquired at an average cost of $8.59 per share, for a total transaction of $85,900.00. Following the purchase, the insider now directly owns 83,552 shares of the company’s stock, valued at approximately $717,711.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have bought 25,000 shares of company stock worth $247,650 in the last three months. 9.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On MediaAlpha

Institutional investors have recently made changes to their positions in the stock. Prospera Financial Services Inc bought a new position in shares of MediaAlpha in the 1st quarter worth $28,000. Nisa Investment Advisors LLC purchased a new position in MediaAlpha during the 2nd quarter valued at about $28,000. Amalgamated Bank purchased a new position in MediaAlpha during the 1st quarter valued at about $56,000. Allspring Global Investments Holdings LLC purchased a new position in MediaAlpha during the 4th quarter valued at about $155,000. Finally, MetLife Investment Management LLC raised its holdings in MediaAlpha by 56.1% in the first quarter. MetLife Investment Management LLC now owns 12,251 shares of the company’s stock worth $203,000 after buying an additional 4,405 shares during the last quarter. Institutional investors own 65.47% of the company’s stock.

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

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