MediaAlpha (NYSE:MAX) Announces Quarterly 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 earnings results on Wednesday. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01, Zacks reports. The company had revenue of $251.62 million during the quarter, compared to analysts' expectations of $248.80 million. MediaAlpha had a negative net margin of 0.61% and a negative return on equity of 62.53%. The business's revenue for the quarter was up 41.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS.

MediaAlpha Stock Performance

NYSE MAX traded down $0.44 on Friday, reaching $10.95. The company had a trading volume of 737,870 shares, compared to its average volume of 412,420. The firm has a market capitalization of $733.98 million, a price-to-earnings ratio of -91.24 and a beta of 1.19. MediaAlpha has a 1-year low of $7.33 and a 1-year high of $20.91. The company's fifty day moving average is $10.59 and its 200-day moving average is $10.10.

Analysts Set New Price Targets

Several analysts have commented on the stock. Royal Bank Of Canada dropped their target price on shares of MediaAlpha from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. JPMorgan Chase & Co. upped their target price on shares of MediaAlpha from $10.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Wall Street Zen cut shares of MediaAlpha from a "buy" rating to a "hold" rating in a research report on Saturday. The Goldman Sachs Group lowered their price objective on shares of MediaAlpha from $14.00 to $12.50 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of MediaAlpha from $19.00 to $16.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, MediaAlpha 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 position in MediaAlpha, Inc. (NYSE:MAX - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 15,331 shares of the company's stock, valued at approximately $168,000. 64.39% of the stock is owned by institutional investors.

About MediaAlpha

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.