MediaAlpha (NYSE:MAX) Announces Quarterly Earnings Results

MediaAlpha (NYSE:MAX) announced its earnings results on Monday. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.25, FiscalAI reports. MediaAlpha had a negative net margin of 0.10% and a negative return on equity of 71.02%. The company had revenue of $291.16 million during the quarter, compared to the consensus estimate of $296.42 million.

MediaAlpha Trading Down 1.9%

Shares of MediaAlpha stock traded down $0.15 during trading hours on Monday, reaching $7.69. The stock had a trading volume of 1,656,996 shares, compared to its average volume of 797,747. The firm has a market capitalization of $501.16 million, a PE ratio of -256.25 and a beta of 1.29. The stock’s 50 day moving average is $10.77 and its 200 day moving average is $11.45. MediaAlpha has a twelve month low of $7.09 and a twelve month high of $13.92.

Insider Transactions at MediaAlpha

In other MediaAlpha news, General Counsel Jeffrey B. Coyne sold 5,000 shares of the stock in a transaction on Friday, February 13th. The shares were sold at an average price of $7.30, for a total transaction of $36,500.00. Following the transaction, the general counsel directly owned 436,783 shares of the company’s stock, valued at $3,188,515.90. This trade represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Kuanling Amy Yeh sold 12,000 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $7.31, for a total transaction of $87,720.00. Following the sale, the chief technology officer directly owned 381,662 shares of the company’s stock, valued at $2,789,949.22. This represents a 3.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 495,000 shares of company stock worth $5,820,802 in the last ninety days. Company insiders own 11.53% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of MAX. Hsbc Holdings PLC increased its position in MediaAlpha by 2.3% during the second quarter. Hsbc Holdings PLC now owns 51,550 shares of the company’s stock worth $561,000 after purchasing an additional 1,144 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of MediaAlpha by 28.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock worth $61,000 after buying an additional 1,213 shares during the last quarter. Quarry LP increased its holdings in shares of MediaAlpha by 43.3% during the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after buying an additional 1,234 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of MediaAlpha by 13.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,757 shares of the company’s stock valued at $140,000 after buying an additional 1,510 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its position in MediaAlpha by 5,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock worth $28,000 after acquiring an additional 2,124 shares during the period. Institutional investors and hedge funds own 64.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MAX. JPMorgan Chase & Co. raised their price objective on MediaAlpha from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. The Goldman Sachs Group set a $13.50 price target on MediaAlpha in a report on Friday, October 31st. Wall Street Zen upgraded shares of MediaAlpha from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 11th. Keefe, Bruyette & Woods increased their price objective on shares of MediaAlpha from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, October 30th. Finally, Zacks Research downgraded shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 29th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, MediaAlpha presently has a consensus rating of “Hold” and a consensus target price of $17.25.

MediaAlpha Company Profile

MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company’s platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.

The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.