MediaAlpha, Inc. (NYSE:MAX - Free Report) - Investment analysts at William Blair increased their FY2024 earnings estimates for shares of MediaAlpha in a research report issued to clients and investors on Thursday, October 31st. William Blair analyst A. Klauber now expects that the company will post earnings of $0.42 per share for the year, up from their previous estimate of $0.23. The consensus estimate for MediaAlpha's current full-year earnings is $0.35 per share. William Blair also issued estimates for MediaAlpha's Q4 2024 earnings at $0.18 EPS.
MediaAlpha (NYSE:MAX - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.04. The business had revenue of $259.13 million for the quarter, compared to the consensus estimate of $246.96 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.03%.
Several other research analysts have also recently commented on the company. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $26.00 target price (up from $25.00) on shares of MediaAlpha in a research note on Thursday, August 1st. The Goldman Sachs Group boosted their price objective on MediaAlpha from $20.00 to $26.00 and gave the stock a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.14.
Read Our Latest Stock Analysis on MAX
MediaAlpha Stock Performance
Shares of MAX traded down $0.30 during mid-day trading on Monday, hitting $16.08. 686,724 shares of the company's stock were exchanged, compared to its average volume of 560,283. The stock's 50-day moving average is $18.01 and its 200-day moving average is $17.18. MediaAlpha has a fifty-two week low of $8.55 and a fifty-two week high of $25.78. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 94.59 and a beta of 1.23.
Hedge Funds Weigh In On MediaAlpha
A number of large investors have recently made changes to their positions in MAX. Vanguard Group Inc. boosted its position in MediaAlpha by 15.0% during the first quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company's stock worth $43,168,000 after purchasing an additional 276,641 shares in the last quarter. Driehaus Capital Management LLC boosted its position in shares of MediaAlpha by 208.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company's stock worth $18,920,000 after buying an additional 970,840 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in MediaAlpha in the 1st quarter valued at about $22,181,000. Divisadero Street Capital Management LP purchased a new position in MediaAlpha during the 2nd quarter valued at about $7,956,000. Finally, Emerald Advisers LLC increased its holdings in MediaAlpha by 51,407.5% during the 2nd quarter. Emerald Advisers LLC now owns 598,517 shares of the company's stock valued at $7,882,000 after acquiring an additional 597,355 shares in the last quarter. Hedge funds and other institutional investors own 64.39% of the company's stock.
Insider Transactions at MediaAlpha
In other news, insider Eugene Nonko sold 72,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the completion of the transaction, the insider now directly owns 1,550,990 shares of the company's stock, valued at approximately $32,058,963.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 11.53% of the company's stock.
About MediaAlpha
(
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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.
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