MediaAlpha (NYSE:MAX) Shares Gap Up Following Strong Earnings

MediaAlpha, Inc. (NYSE:MAX) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $11.72, but opened at $14.04. MediaAlpha shares last traded at $14.3460, with a volume of 401,332 shares traded.

The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.28 by $0.18. The business had revenue of $375.95 million for the quarter, compared to analysts’ expectations of $347.93 million. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%.

MediaAlpha News Roundup

Here are the key news stories impacting MediaAlpha this week:

• Positive Sentiment: Record Q3 results exceeded expectations: MediaAlpha reported earnings of $0.46 per share, well above the $0.28 analyst consensus and up from $0.26 a year earlier. Revenue reached a record $375.9 million, up 23% year over year and ahead of the $347.9 million estimate. MediaAlpha Announces Third Quarter 2026 Financial Results
• Positive Sentiment: Profitability also reached records: Third-quarter net income was $29.4 million, while adjusted EBITDA climbed to a record $39.5 million. Management said demand continued to broaden across its marketplace, supporting the positive market reaction. MediaAlpha beats expectations in strong Q3 2026
• Positive Sentiment: Analyst sentiment remains favorable: Sell-side brokerages collectively rate MAX “Moderate Buy,” offering additional support for the stock following the earnings beat. MediaAlpha stock rated Moderate Buy
• Neutral Sentiment: Director sales were largely administrative: Director Eugene Nonko reported selling a combined 31,335 shares over several days. The transactions were executed under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards, reducing their signaling value; Nonko still retained a substantial position. Eugene Nonko insider transactions

Analyst Ratings Changes

MAX has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $13.00 price target on MediaAlpha in a report on Thursday. Keefe, Bruyette & Woods upped their price target on MediaAlpha from $15.00 to $17.00 and gave the company an “outperform” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of MediaAlpha from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. initiated coverage on shares of MediaAlpha in a report on Monday, August 24th. They set a “neutral” rating and a $15.00 target price on the stock. Finally, Zacks Research cut MediaAlpha from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $14.29.

Insider Buying and Selling

In other news, Director Eugene Nonko sold 7,273 shares of the firm’s stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $11.63, for a total transaction of $84,584.99. Following the completion of the transaction, the director directly owned 789,901 shares in the company, valued at $9,186,548.63. This trade represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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, CRO Keith Cramer sold 12,000 shares of MediaAlpha stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $11.39, for a total transaction of $136,680.00. Following the sale, the executive owned 239,303 shares in the company, valued at approximately $2,725,661.17. The trade was a 4.78% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 have sold 425,550 shares of company stock valued at $5,148,791 over the last quarter. Corporate insiders own 14.65% of the company’s stock.

Institutional Trading of MediaAlpha

A number of institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. raised its position in shares of MediaAlpha by 9,917.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock valued at $36,000 after purchasing an additional 2,777 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of MediaAlpha by 23.2% during the first quarter. SG Americas Securities LLC now owns 19,473 shares of the company’s stock valued at $181,000 after buying an additional 3,668 shares during the last quarter. State of Wyoming grew its holdings in shares of MediaAlpha by 10.7% during the first quarter. State of Wyoming now owns 43,001 shares of the company’s stock valued at $400,000 after buying an additional 4,169 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of MediaAlpha by 11.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,885 shares of the company’s stock valued at $435,000 after acquiring an additional 4,935 shares during the period. Finally, Corient Private Wealth LP lifted its position in MediaAlpha by 50.7% during the 2nd quarter. Corient Private Wealth LP now owns 23,451 shares of the company’s stock worth $295,000 after acquiring an additional 7,892 shares during the period. Institutional investors and hedge funds own 64.39% of the company’s stock.

MediaAlpha Price Performance

The firm has a market capitalization of $884.53 million, a price-to-earnings ratio of 8.89 and a beta of 1.14. The business has a fifty day moving average price of $11.23 and a two-hundred day moving average price of $10.63.

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.