MediaAlpha (NYSE:MAX) Releases Quarterly Earnings Results, Beats Expectations By $0.18 EPS

MediaAlpha (NYSE:MAX) released its quarterly earnings data on Wednesday. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.28 by $0.18, FiscalAI reports. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%. The company had revenue of $375.95 million during the quarter, compared to the consensus estimate of $347.93 million.

MediaAlpha Trading Down 0.3%

NYSE MAX traded down $0.03 on Wednesday, reaching $11.74. 869,988 shares of the stock were exchanged, compared to its average volume of 791,574. MediaAlpha has a one year low of $7.09 and a one year high of $14.70. The firm has a market capitalization of $719.07 million, a PE ratio of 7.25 and a beta of 1.14. The company’s 50-day simple moving average is $11.26 and its two-hundred day simple moving average is $10.63.

Analyst Upgrades and Downgrades

A number of research firms have commented on MAX. Weiss Ratings raised shares of MediaAlpha from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Royal Bank Of Canada raised their price target on MediaAlpha from $11.00 to $15.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 5th. Wall Street Zen raised MediaAlpha from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Canaccord Genuity Group increased their target price on MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, Zacks Research cut MediaAlpha from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.79.

Insider Activity

In other news, CTO Kuanling Yeh sold 3,000 shares of the firm’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $11.77, for a total transaction of $35,310.00. Following the sale, the chief technology officer directly owned 543,091 shares in the company, valued at $6,392,181.07. This trade represents a 0.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Steven Yi sold 24,000 shares of MediaAlpha stock in a transaction on Thursday, October 8th. The shares were sold at an average price of $10.04, for a total transaction of $240,960.00. Following the transaction, the insider owned 2,315,740 shares in the company, valued at approximately $23,250,029.60. This trade represents a 1.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 395,447 shares of company stock valued at $4,794,044. 14.65% of the stock is currently owned by company insiders.

MediaAlpha Company Profile

MediaAlpha, Inc operates a technology platform that helps insurance carriers and distributors acquire customers through digital channels. Its marketplace connects consumers who are shopping for insurance with providers seeking qualified prospects, using data, analytics and automated systems to facilitate the matching process.

The company’s platform supports customer acquisition across insurance categories, including property and casualty products such as auto and home insurance, as well as health, life and Medicare-related coverage.