Q2 2024 Earnings Estimate for MediaAlpha, Inc. Issued By William Blair (NYSE:MAX)

MediaAlpha, Inc. (NYSE:MAX) – Analysts at William Blair boosted their Q2 2024 EPS estimates for MediaAlpha in a note issued to investors on Wednesday, May 1st. William Blair analyst A. Klauber now anticipates that the company will post earnings per share of $0.02 for the quarter, up from their previous forecast of ($0.10). The consensus estimate for MediaAlpha’s current full-year earnings is ($0.28) per share. William Blair also issued estimates for MediaAlpha’s Q3 2024 earnings at $0.04 EPS, Q4 2024 earnings at $0.05 EPS, FY2024 earnings at $0.09 EPS and FY2025 earnings at $0.40 EPS.

A number of other research analysts also recently commented on the stock. BMO Capital Markets raised shares of MediaAlpha from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $9.00 to $28.00 in a research report on Monday, February 26th. Canaccord Genuity Group boosted their price target on shares of MediaAlpha from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their price objective on MediaAlpha from $18.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. TD Cowen assumed coverage on MediaAlpha in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $15.00 target price on the stock. Finally, Royal Bank of Canada raised their price target on MediaAlpha from $12.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 21st. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.50.

MediaAlpha Price Performance

NYSE:MAX opened at $22.14 on Monday. The stock’s 50-day moving average is $19.89 and its two-hundred day moving average is $14.40. The stock has a market cap of $1.46 billion, a PE ratio of -32.56 and a beta of 1.32. MediaAlpha has a fifty-two week low of $5.33 and a fifty-two week high of $25.78.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, May 1st. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.09. The business had revenue of $126.60 million during the quarter, compared to analyst estimates of $111.17 million. The business’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the business earned ($0.23) EPS.

Hedge Funds Weigh In On MediaAlpha

A number of institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in MediaAlpha by 111.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,442 shares of the company’s stock valued at $50,000 after buying an additional 2,343 shares during the last quarter. Alliance Wealth Advisors LLC UT bought a new stake in MediaAlpha during the third quarter valued at about $84,000. Allspring Global Investments Holdings LLC grew its position in shares of MediaAlpha by 305.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 16,404 shares of the company’s stock valued at $135,000 after purchasing an additional 12,355 shares during the last quarter. Baker Tilly Wealth Management LLC increased its stake in shares of MediaAlpha by 13.7% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 13,775 shares of the company’s stock worth $154,000 after purchasing an additional 1,660 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of MediaAlpha during the 3rd quarter worth about $162,000. Institutional investors own 64.39% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $19.85, for a total value of $58,557,500.00. Following the transaction, the insider now directly owns 50,000 shares of the company’s stock, valued at approximately $992,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.53% of the company’s stock.

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.