MediaAlpha (MAX) Scheduled to Post Quarterly Earnings on Wednesday

MediaAlpha (NYSE:MAX) is set to release its earnings data after the market closes on Wednesday, May 1st. Analysts expect MediaAlpha to post earnings of ($0.11) per share for the quarter. MediaAlpha has set its Q1 2024 guidance at EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results on Tuesday, February 20th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.16. The firm had revenue of $117.17 million for the quarter, compared to analysts’ expectations of $111.36 million. On average, analysts expect MediaAlpha to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

MediaAlpha Price Performance

Shares of MAX stock opened at $18.86 on Monday. The company’s fifty day moving average price is $19.63 and its 200-day moving average price is $14.01. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -21.19 and a beta of 1.35. MediaAlpha has a one year low of $5.08 and a one year high of $22.81.

Insider Activity

In related news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $19.85, for a total transaction of $58,557,500.00. Following the completion of the sale, the insider now directly 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 at the SEC website. Company insiders own 11.53% of the company’s stock.

Analyst Upgrades and Downgrades

MAX has been the topic of several research reports. TD Cowen assumed coverage on MediaAlpha in a report on Wednesday, January 10th. They issued an “outperform” rating and a $15.00 target price on the stock. BMO Capital Markets raised MediaAlpha from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $9.00 to $28.00 in a research note on Monday, February 26th. Royal Bank of Canada increased their target price on MediaAlpha from $12.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. Finally, Canaccord Genuity Group boosted their target price on shares of MediaAlpha from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.20.

About MediaAlpha

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.