FY2024 EPS Estimates for MediaAlpha Lifted by William Blair

MediaAlpha, Inc. (NYSE:MAX) – Analysts at William Blair raised their FY2024 earnings per share estimates for shares of MediaAlpha in a research note issued to investors on Thursday, October 31st. William Blair analyst A. Klauber now expects that the company will post earnings per share of $0.42 for the year, up from their prior forecast 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.

A number of other brokerages also recently weighed in on MAX. The Goldman Sachs Group lifted their price target on MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a report on Friday. Keefe, Bruyette & Woods restated an “outperform” rating and set a $26.00 price objective (up from $25.00) on shares of MediaAlpha in a research report on Thursday, August 1st. 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $25.14.

MediaAlpha Stock Performance

MediaAlpha stock opened at $16.08 on Monday. The company has a 50 day moving average price of $18.01 and a 200 day moving average price of $17.18. MediaAlpha has a 52 week low of $8.55 and a 52 week high of $25.78. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 94.59 and a beta of 1.23.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, October 30th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.13 by $0.04. The company had revenue of $259.13 million during the quarter, compared to analysts’ expectations of $246.96 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.03%.

Insider Buying and Selling

In other MediaAlpha news, insider Eugene Nonko sold 72,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total value of $1,488,240.00. Following the transaction, the insider now owns 1,550,990 shares in the company, valued at $32,058,963.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 11.53% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new stake in shares of MediaAlpha in the 2nd quarter valued at $65,000. Sandia Investment Management LP bought a new stake in shares of MediaAlpha during the 2nd quarter worth about $79,000. nVerses Capital LLC acquired a new position in shares of MediaAlpha during the 3rd quarter valued at about $116,000. EntryPoint Capital LLC acquired a new position in shares of MediaAlpha during the 1st quarter valued at about $136,000. Finally, Lazard Asset Management LLC bought a new position in shares of MediaAlpha in the 1st quarter valued at approximately $165,000. Institutional investors and hedge funds own 64.39% of the company’s stock.

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.