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

MediaAlpha (NYSE:MAX) announced its quarterly earnings results on Monday. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.25 by $0.25, FiscalAI reports. The business had revenue of $291.16 million for the quarter, compared to analyst estimates 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%

Shares of NYSE MAX traded down $0.15 during midday trading on Monday, hitting $7.69. 1,703,733 shares of the company’s stock were exchanged, compared to its average volume of 813,992. The firm has a market capitalization of $501.16 million, a PE ratio of -256.25 and a beta of 1.29. MediaAlpha has a 12 month low of $7.09 and a 12 month high of $13.92. The company’s 50 day moving average price is $10.77 and its 200 day moving average price is $11.45.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of MediaAlpha from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings restated a “sell (d)” rating on shares of MediaAlpha in a research report on Monday, December 29th. Keefe, Bruyette & Woods raised their target price on MediaAlpha from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $15.00 target price on shares of MediaAlpha in a research note on Thursday, October 30th. Finally, The Goldman Sachs Group set a $13.50 price target on MediaAlpha in a research report on Friday, October 31st. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, MediaAlpha currently has a consensus rating of “Hold” and a consensus price target of $17.25.

Insider Buying and Selling at MediaAlpha

In other news, CTO Kuanling Amy Yeh sold 12,000 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $13.49, for a total value of $161,880.00. Following the transaction, the chief technology officer directly owned 402,662 shares of the company’s stock, valued at $5,431,910.38. This represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steven Yi sold 8,000 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $13.50, for a total transaction of $108,000.00. Following the completion of the sale, the insider directly owned 2,903,330 shares of the company’s stock, valued at $39,194,955. This represents a 0.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 495,000 shares of company stock worth $5,820,802 over the last ninety days. Insiders own 11.53% of the company’s stock.

Hedge Funds Weigh In On MediaAlpha

Hedge funds have recently made changes to their positions in the stock. Invesco Ltd. boosted its position in MediaAlpha by 32.1% during the fourth quarter. Invesco Ltd. now owns 26,024 shares of the company’s stock valued at $337,000 after acquiring an additional 6,319 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of MediaAlpha by 32.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 16,960 shares of the company’s stock worth $220,000 after purchasing an additional 4,120 shares during the last quarter. State of Tennessee Department of Treasury bought a new position in shares of MediaAlpha in the fourth quarter valued at approximately $167,000. Mackenzie Financial Corp boosted its position in shares of MediaAlpha by 184.3% during the fourth quarter. Mackenzie Financial Corp now owns 42,975 shares of the company’s stock valued at $559,000 after buying an additional 27,858 shares during the last quarter. Finally, XTX Topco Ltd grew its holdings in MediaAlpha by 212.0% during the fourth quarter. XTX Topco Ltd now owns 90,702 shares of the company’s stock worth $1,175,000 after buying an additional 61,628 shares in the last quarter. 64.39% of the stock is currently owned by institutional investors.

About MediaAlpha

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.