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

MediaAlpha, Inc. (NYSE:MAX) – Analysts at William Blair lifted their Q2 2024 EPS estimates for shares of MediaAlpha in a report issued on Wednesday, May 1st. William Blair analyst A. Klauber now anticipates that the company will post earnings of $0.02 per share for the quarter, up from their previous 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 equities analysts have also recently commented on the company. BMO Capital Markets raised MediaAlpha from a “market perform” rating to an “outperform” rating and increased their target price for the company from $9.00 to $28.00 in a report on Monday, February 26th. Royal Bank of Canada raised their price objective on MediaAlpha from $12.00 to $18.00 and gave the company an “outperform” rating in a report on Wednesday, February 21st. Canaccord Genuity Group upped their target price on shares of MediaAlpha from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their price target on MediaAlpha from $18.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, TD Cowen started coverage on MediaAlpha in a report on Wednesday, January 10th. They set an “outperform” rating and a $15.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

MediaAlpha Price Performance

Shares of NYSE:MAX opened at $22.14 on Monday. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -32.56 and a beta of 1.32. The business’s 50 day moving average price is $19.89 and its 200-day moving average price is $14.40. MediaAlpha has a 1 year low of $5.33 and a 1 year high of $25.78.

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

Insider Transactions at MediaAlpha

In related news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 50,000 shares in the company, valued at approximately $992,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in shares of MediaAlpha by 111.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock valued at $50,000 after purchasing an additional 2,343 shares during the last quarter. SYSTM Wealth Solutions LLC purchased a new stake in shares of MediaAlpha in the first quarter valued at about $178,000. Alliance Wealth Advisors LLC UT purchased a new stake in shares of MediaAlpha during the 3rd quarter worth $84,000. Baker Tilly Wealth Management LLC grew its stake in shares of MediaAlpha by 13.7% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock worth $154,000 after purchasing an additional 1,660 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of MediaAlpha by 305.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 16,404 shares of the company’s stock valued at $135,000 after purchasing an additional 12,355 shares in the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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.