William Blair Research Analysts Raise Earnings Estimates for MediaAlpha, Inc. (NYSE:MAX)

MediaAlpha, Inc. (NYSE:MAX) – Research analysts at William Blair increased their Q3 2024 EPS estimates for shares of MediaAlpha in a research report issued to clients and investors on Thursday, August 1st. William Blair analyst A. Klauber now forecasts that the company will post earnings per share of $0.10 for the quarter, up from their prior forecast of $0.04. The consensus estimate for MediaAlpha’s current full-year earnings is $0.13 per share. William Blair also issued estimates for MediaAlpha’s FY2024 earnings at $0.23 EPS.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.02 by $0.05. The company had revenue of $178.27 million for the quarter, compared to analyst estimates of $151.40 million. During the same quarter in the previous year, the firm posted ($0.32) earnings per share. The company’s quarterly revenue was up 110.3% on a year-over-year basis.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada raised their price objective on MediaAlpha from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 28th. TD Cowen cut shares of MediaAlpha from a “buy” rating to a “hold” rating and reduced their target price for the stock from $19.00 to $13.00 in a report on Wednesday, June 26th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $26.00 price target (up from $25.00) on shares of MediaAlpha in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on MediaAlpha from $18.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, Canaccord Genuity Group raised their price objective on shares of MediaAlpha from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, MediaAlpha has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

MediaAlpha Stock Performance

Shares of MAX opened at $16.48 on Monday. The stock has a 50-day moving average of $15.22 and a two-hundred day moving average of $17.20. The stock has a market cap of $1.09 billion, a P/E ratio of -24.24 and a beta of 1.20. MediaAlpha has a one year low of $7.62 and a one year high of $25.78.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in MediaAlpha during the first quarter worth about $1,118,000. Norden Group LLC grew its position in MediaAlpha by 1,767.2% in the first quarter. Norden Group LLC now owns 263,592 shares of the company’s stock worth $5,369,000 after acquiring an additional 249,475 shares during the period. Nomura Holdings Inc. acquired a new stake in MediaAlpha during the fourth quarter worth $1,364,000. TimesSquare Capital Management LLC purchased a new stake in MediaAlpha in the first quarter valued at $22,181,000. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of MediaAlpha in the 1st quarter valued at $4,062,000. Institutional investors and hedge funds own 64.39% of the company’s stock.

Insider Activity

In other news, major shareholder Insignia Capital Partners Gp, sold 2,589,800 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $19.00, for a total value of $49,206,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 11.53% of the company’s stock.

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.