MediaAlpha (NYSE:MAX) Posts Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• MediaAlpha reported a quarterly earnings per share (EPS) of $0.17, exceeding the consensus estimate of $0.16 by $0.01, with revenues of $251.62 million, up 41.1% year-over-year.
• Despite the positive earnings report, MediaAlpha's stock fell by 2.7% to $11.09 on the following trading day.
• Analysts have varied ratings on MediaAlpha's stock, with target prices ranging from $12.00 to $18.00, and an overall average rating of "Buy."

MediaAlpha (NYSE:MAX - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01, Zacks reports. The company had revenue of $251.62 million for the quarter, compared to analyst estimates of $248.80 million. MediaAlpha had a negative net margin of 0.61% and a negative return on equity of 62.53%. The company's revenue was up 41.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 earnings per share.

MediaAlpha Trading Down 1.0%

MAX stock traded down $0.10 during mid-day trading on Tuesday, hitting $9.47. The stock had a trading volume of 28,780 shares, compared to its average volume of 495,299. MediaAlpha has a 52 week low of $7.33 and a 52 week high of $20.91. The firm has a market capitalization of $634.44 million, a P/E ratio of -79.01 and a beta of 1.19. The firm has a fifty day simple moving average of $10.58 and a 200 day simple moving average of $10.08.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada dropped their price objective on shares of MediaAlpha from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Wall Street Zen lowered shares of MediaAlpha from a "buy" rating to a "hold" rating in a research report on Saturday. JPMorgan Chase & Co. raised their price target on shares of MediaAlpha from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. The Goldman Sachs Group lowered their price target on shares of MediaAlpha from $14.00 to $12.50 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of MediaAlpha from $19.00 to $16.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $17.92.

Hedge Funds Weigh In On MediaAlpha

An institutional investor recently bought a new position in MediaAlpha stock. Creative Planning bought a new stake in MediaAlpha, Inc. (NYSE:MAX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm bought 15,331 shares of the company's stock, valued at approximately $168,000. Institutional investors and hedge funds own 64.39% of the company's stock.

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.