MediaAlpha (NYSE:MAX) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

MediaAlpha (NYSE:MAX) issued its quarterly earnings results on Wednesday. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04, reports. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.03%. The business had revenue of $259.13 million for the quarter, compared to analysts’ expectations of $246.96 million. MediaAlpha updated its Q4 2024 guidance to EPS.

MediaAlpha Stock Up 2.6 %

Shares of NYSE:MAX opened at $17.58 on Friday. MediaAlpha has a twelve month low of $8.55 and a twelve month high of $25.78. The stock’s 50 day moving average is $18.07 and its 200-day moving average is $17.24. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 100.76 and a beta of 1.22.

Analyst Ratings Changes

Several research firms recently commented on MAX. The Goldman Sachs Group began coverage on MediaAlpha in a research note on Tuesday, August 20th. They set a “buy” rating and a $20.00 target price for the company. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $26.00 price objective (up previously from $25.00) on shares of MediaAlpha in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.29.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MAX. TimesSquare Capital Management LLC acquired a new stake in shares of MediaAlpha in the 1st quarter worth about $22,181,000. Driehaus Capital Management LLC increased its holdings in MediaAlpha by 208.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock worth $18,920,000 after purchasing an additional 970,840 shares in the last quarter. Divisadero Street Capital Management LP purchased a new stake in shares of MediaAlpha in the second quarter worth approximately $7,956,000. Emerald Advisers LLC lifted its holdings in shares of MediaAlpha by 51,407.5% in the second quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock valued at $7,882,000 after purchasing an additional 597,355 shares in the last quarter. Finally, Clearline Capital LP boosted its position in shares of MediaAlpha by 1,255.3% during the second quarter. Clearline Capital LP now owns 576,728 shares of the company’s stock valued at $7,596,000 after buying an additional 534,176 shares during the last quarter. 64.39% of the stock is owned by institutional investors.

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.