MediaAlpha (MAX) to Release Quarterly Earnings on Wednesday

MediaAlpha (NYSE:MAX) is scheduled to be announcing its earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of ($0.11) per share for the quarter. MediaAlpha has set its Q1 2024 guidance at EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings results on Tuesday, February 20th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.16. The company had revenue of $117.17 million during the quarter, compared to the consensus estimate of $111.36 million. On average, analysts expect MediaAlpha to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

MediaAlpha Stock Performance

NYSE:MAX opened at $19.00 on Wednesday. The business’s fifty day moving average is $19.45 and its 200 day moving average is $13.80. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -21.35 and a beta of 1.35. MediaAlpha has a 52-week low of $5.08 and a 52-week high of $22.81.

Insider Activity at MediaAlpha

In other MediaAlpha news, major shareholder Insignia Capital Partners Gp, sold 2,950,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $19.85, for a total value of $58,557,500.00. Following the completion of the transaction, the insider now owns 50,000 shares of the company’s stock, valued at approximately $992,500. The transaction was disclosed in a filing with the SEC, which is available through this link. 11.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MAX shares. Royal Bank of Canada upped their price target on MediaAlpha from $12.00 to $18.00 and gave the company an “outperform” rating in a research report on Wednesday, February 21st. TD Cowen started coverage on shares of MediaAlpha in a research note on Wednesday, January 10th. They issued an “outperform” rating and a $15.00 target price on the stock. BMO Capital Markets upgraded shares of MediaAlpha from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $9.00 to $28.00 in a research report on Monday, February 26th. Finally, Canaccord Genuity Group increased their price objective on MediaAlpha from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.20.

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.