MediaAlpha Hits New 52-Week High on Q4 and FY23 Financial Results

February 21, 2024

DENVER, Colo., Feb 21, 2024 (247marketnews.com)- MediaAlpha, Inc. (NYSE:MAX) hit a new 52-week high today, following yesterday’s aftermarket fourth quarter and full year ended 2023 financial results announcement.

Max is trading at $19.41, up $3.61 (+22.85%), on 800,052 shares traded.

Its 52-week range is $5.08 to $19.41. It made a big move in the opening half hour and has been steadily gaining since and is now trading at late 2021 price levels. If its trading volume can strengthen, it could challenge more of thos trading levels.

“Our fourth quarter results exceeded expectations, driven primarily by improving conditions in our Property & Casualty (P&C) insurance vertical,” said MediaAlpha co-founder and CEO Steve Yi. “While our P&C vertical has been challenged by difficult market conditions for the past several years, we are seeing the market turn and expect first quarter Transaction Value to nearly double sequentially. We believe our growth will accelerate as more auto insurance carriers restore profitability and increase their marketing investments, driving strong results for MediaAlpha this year and beyond.”

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Cautionary Statement Regarding Forward Looking Information
Statements in this press release about the Company’s future and expectations other than historical facts are “forward-looking statements.” These statements are made on the basis of management’s current views and assumptions. As a result, there can be no assurance that management’s expectations will necessarily come to pass. These forward-looking statements generally can be identified by phrases such as “believes,” “plans,” “expects,” “anticipates,” “foresees,” “estimated,” “hopes,” “if,” “develops,” “researching,” “research,” “pilot,” “potential,” “could” or other words or phrases of similar import. Forward looking statements include descriptions of the Company’s business strategy, outlook, objectives, plans, intentions and goals. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security.

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