MediaAlpha (MAX) Set to Announce Earnings on Wednesday

MediaAlpha (NYSE:MAX) is set to announce its earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of ($0.11) per share for the quarter. MediaAlpha has set its Q1 2024 guidance at EPS.Investors that wish to register for the company’s conference call can do so using this link.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings data on Tuesday, February 20th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.16. The business had revenue of $117.17 million during the quarter, compared to the consensus estimate 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 $18.80 on Tuesday. MediaAlpha has a 12-month low of $5.08 and a 12-month high of $22.81. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -21.12 and a beta of 1.35. The business has a 50 day simple moving average of $19.69 and a 200 day simple moving average of $14.08.

Insiders Place Their Bets

In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.85, for a total value of $58,557,500.00. Following the completion of the sale, the insider now directly owns 50,000 shares in the company, valued at $992,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

MAX has been the subject of a number of recent analyst reports. TD Cowen initiated coverage on MediaAlpha in a report on Wednesday, January 10th. They issued an “outperform” rating and a $15.00 price objective for the company. Canaccord Genuity Group upped their target price on MediaAlpha from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada upped their target price on MediaAlpha from $12.00 to $18.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 21st. Finally, BMO Capital Markets upgraded MediaAlpha from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $9.00 to $28.00 in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, MediaAlpha presently has an average rating of “Moderate Buy” and an average target price of $18.20.

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.