William Blair Increases Earnings Estimates for MediaAlpha

MediaAlpha, Inc. (NYSE:MAX) – Equities research analysts at William Blair increased their FY2024 earnings per share estimates for shares of MediaAlpha in a research note issued on Thursday, October 31st. William Blair analyst A. Klauber now forecasts that the company will post earnings of $0.42 per share for the year, up from their previous 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.

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

A number of other research firms also recently commented on MAX. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $26.00 target price (up previously from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. The Goldman Sachs Group boosted their target price on shares of MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, MediaAlpha has a consensus rating of “Moderate Buy” and an average target price of $25.14.

MediaAlpha Stock Performance

Shares of MAX stock opened at $16.08 on Monday. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 94.59 and a beta of 1.23. MediaAlpha has a one year low of $8.55 and a one year high of $25.78. The company’s 50-day simple moving average is $18.01 and its 200-day simple moving average is $17.18.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MAX. Norden Group LLC increased its stake in MediaAlpha by 32.8% during the 1st quarter. Norden Group LLC now owns 18,750 shares of the company’s stock valued at $382,000 after buying an additional 4,633 shares during the period. TimesSquare Capital Management LLC bought a new stake in MediaAlpha during the first quarter worth approximately $22,181,000. Westfield Capital Management Co. LP acquired a new stake in MediaAlpha in the first quarter worth approximately $364,000. Vanguard Group Inc. boosted its stake in MediaAlpha by 15.0% during the 1st quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock valued at $43,168,000 after purchasing an additional 276,641 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of MediaAlpha during the 1st quarter valued at $1,118,000. 64.39% of the stock is owned by institutional investors and hedge funds.

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.