MediaAlpha, Inc. (MAX)
Communications · NYQ
Price as at 30 Sept 2026, 21:04 UTC. Quotes are delayed.
Fundamentals
Valuation and ratings
MediaAlpha, Inc. trades at $9.57, which is 130% below the $22.05 our fair value estimate puts on the business. On that measure alone it screens as undervalued, though a valuation model is an argument rather than a measurement, and the market is frequently right about why something is cheap.
Our moat model scores it 22 out of 100, which is little in the way of a moat. A moat is a structural reason competitors cannot take the profits away, and it matters more to a long holding period than any single quarter's numbers do.
It changes hands at 22.1 times earnings. Be careful reading that in isolation: for a cyclical business a low P/E arrives at the top of the cycle, when profits are peaking and about to fall, which is exactly when the shares look cheapest and are not.
MAX earnings and analyst estimates
Recommendation mix, 7 published ratings
Estimates are the published analyst consensus and move often. An earnings date is scheduled, not certain, and a share tends to reprice most violently on the day itself.
About MediaAlpha, Inc.
MediaAlpha, Inc., through its subsidiaries, operates an insurance customer acquisition platform in the United States. Its technology platform offers end customer acquisition for insurance carriers, agents, distributors, and other clients in a range of verticals, including property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.
Company profile, industry and headcount are as reported by our data provider and can lag a company's own filings by a reporting period. The annual report is the authority.
MAX passes 2 of our 30 screens today
Each screen prints the exact criteria it used, and the circumstances in which it is wrong.
Super investor ownership
8 of the funds we track reported a position in their latest SEC 13F filing. Largest first:
- Arrowstreet Capital, ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$10.43M · 0.0% of book
- Ken Griffin, CITADEL ADVISORS LLC$7.41M · 0.0% of book
- Renaissance Technologies, RENAISSANCE TECHNOLOGIES LLC$7.22M · 0.0% of book
- D. E. Shaw, D. E. Shaw & Co., Inc.$6.74M · 0.0% of book
- Two Sigma, TWO SIGMA INVESTMENTS, LP$5.15M · 0.0% of book
A word of warning on reading these figures: a 13F reports the market value of a holding, so a fund that traded nothing at all still appears to have sold when the price fell. We found 102 companies where the standard reading gives the opposite answer. Only the share count is honest.
MAX peers
The largest companies in the same industry (Internet Content & Information), then in the same sector.
- GOOGL Alphabet Inc.
- META Meta Platforms, Inc.
- NBIS Nebius Group N.V.
- RDDT Reddit, Inc.
- BAIDF Baidu, Inc.
- ZG Zillow Group, Inc.
- ATDRF Autotrader Group plc
- RMVEY Rightmove Plc
Every communications company we cover is on the Communications hub.
Common questions
Is MediaAlpha, Inc. (MAX) undervalued?
Against our fair value estimate of $22.05, MAX at $9.57 is 130% below fair value. That is one model's answer, not a recommendation. It is built from normalized earning power with growth capped deliberately low, which understates companies whose value is mostly future growth.
Which funds own MAX?
8 of the institutions we track reported a position in MAX in their most recent SEC 13F filing. A 13F is filed up to 45 days after quarter end, so it tells you what a fund held then, not what it holds now.
What is MAX's P/E ratio?
MAX trades at 22.1 times earnings. A low P/E is not automatically cheap: on a cyclical company it is usually a warning that earnings are at a peak.
Where does SteadyShares get its MAX data?
Fundamentals for MAX come from company filings and exchange data, as listed on NYQ; institutional ownership comes from SEC 13F filings. The share price shown was last refreshed on 30 Sept 2026, 21:04 UTC and is delayed. Our data quality score for this company is 71/100, which is the share of the inputs behind our scores that were actually available rather than assumed. Metrics we do not hold are left out of the page rather than estimated.
The full research page for MAX, with financial statements, ownership detail, peer comparison and alerts, is free inside the app.
Data from company filings, exchange quotes and SEC EDGAR 13F disclosures. Quotes are delayed. Metrics we do not have are left out rather than estimated. Educational information, not financial advice.