MediaAlpha (NYSE:MAX) Announces Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Key Points

• MediaAlpha beat quarterly expectations: The company reported adjusted EPS of $0.46, $0.18 above consensus, while revenue reached $375.95 million versus estimates of $347.93 million.
• Shares dipped slightly: MAX traded down 0.3% to $11.74, with a market capitalization of approximately $719 million. The stock’s 12-month range is $7.09 to $14.70.
• Analyst sentiment remains moderately positive: MediaAlpha has a consensus “Moderate Buy” rating and an average price target of $13.79, although recent targets range from $10.50 to $17.00.

MediaAlpha (NYSE:MAX - Get Free Report) posted its quarterly earnings results on Wednesday. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.18, FiscalAI reports. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%. The business had revenue of $375.95 million during the quarter, compared to analysts' expectations of $347.93 million.

MediaAlpha Trading Down 0.3%

MAX stock traded down $0.03 during trading hours on Wednesday, hitting $11.74. 694,353 shares of the stock were exchanged, compared to its average volume of 790,015. The firm has a market capitalization of $719.07 million, a P/E ratio of 7.25 and a beta of 1.14. The company has a 50-day simple moving average of $11.26 and a two-hundred day simple moving average of $10.63. MediaAlpha has a 12 month low of $7.09 and a 12 month high of $14.70.

Insider Transactions at MediaAlpha

In other MediaAlpha news, insider Steven Yi sold 24,000 shares of MediaAlpha stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $10.04, for a total value of $240,960.00. Following the completion of the transaction, the insider directly owned 2,315,740 shares of the company's stock, valued at $23,250,029.60. The trade was a 1.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Eugene Nonko sold 7,273 shares of the business's stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $11.63, for a total value of $84,584.99. Following the completion of the transaction, the director directly owned 812,730 shares of the company's stock, valued at approximately $9,452,049.90. This trade represents a 0.89% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 395,447 shares of company stock worth $4,794,044 over the last ninety days. Corporate insiders own 14.65% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MAX shares. Weiss Ratings raised MediaAlpha from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. Keefe, Bruyette & Woods boosted their target price on MediaAlpha from $15.00 to $17.00 and gave the stock an "outperform" rating in a report on Wednesday, July 8th. Wall Street Zen raised MediaAlpha from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Royal Bank Of Canada increased their price target on MediaAlpha from $11.00 to $15.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Finally, The Goldman Sachs Group cut their price target on MediaAlpha from $14.00 to $10.50 and set a "neutral" rating for the company in a report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.79.

About MediaAlpha

MediaAlpha, Inc operates a technology platform that helps insurance carriers and distributors acquire customers through digital channels. Its marketplace connects consumers who are shopping for insurance with providers seeking qualified prospects, using data, analytics and automated systems to facilitate the matching process.

The company's platform supports customer acquisition across insurance categories, including property and casualty products such as auto and home insurance, as well as health, life and Medicare-related coverage.

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