MediaAlpha (NYSE:MAX) Releases Earnings Results, Beats Estimates By $0.18 EPS

MediaAlpha (NYSE:MAX) 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 company had revenue of $375.95 million during the quarter, compared to analysts’ expectations of $347.93 million.

MediaAlpha Stock Down 0.3%

MAX traded down $0.03 during midday trading on Wednesday, hitting $11.74. 694,353 shares of the company were exchanged, compared to its average volume of 790,015. The firm’s 50 day moving average price is $11.26 and its 200-day moving average price is $10.63. MediaAlpha has a 1-year low of $7.09 and a 1-year high of $14.70. The firm has a market capitalization of $719.07 million, a P/E ratio of 7.25 and a beta of 1.14.

Insider Buying and Selling

In other news, insider Steven Yi sold 24,000 shares of the firm’s stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $10.04, for a total transaction of $240,960.00. Following the completion of the transaction, the insider directly owned 2,315,740 shares in the company, valued at $23,250,029.60. This trade represents a 1.03% 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, CTO Kuanling Yeh sold 3,000 shares of MediaAlpha stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $11.77, for a total value of $35,310.00. Following the completion of the transaction, the chief technology officer directly owned 543,091 shares in the company, valued at approximately $6,392,181.07. This represents a 0.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last ninety days, insiders sold 395,447 shares of company stock worth $4,794,044. Corporate insiders own 14.65% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on MAX. Canaccord Genuity Group raised their price objective on MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings raised MediaAlpha from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Wall Street Zen raised shares of MediaAlpha from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Zacks Research downgraded MediaAlpha from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 21st. Finally, JPMorgan Chase & Co. assumed coverage on MediaAlpha in a research report on Monday, August 24th. They set a “neutral” rating and a $15.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, MediaAlpha currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.79.

MediaAlpha Company Profile

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.