MediaAlpha (NYSE:MAX) Director Sells 6,667 Shares

MediaAlpha, Inc. (NYSE:MAX) Director Eugene Nonko sold 6,667 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $10.15, for a total value of $67,670.05. Following the transaction, the director owned 1,200,605 shares of the company’s stock, valued at $12,186,140.75. This trade represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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.

Eugene Nonko also recently made the following trade(s):

• On Wednesday, June 24th, Eugene Nonko sold 6,667 shares of MediaAlpha stock. The shares were sold at an average price of $10.47, for a total value of $69,803.49.
• On Wednesday, June 24th, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The shares were sold at an average price of $10.46, for a total transaction of $11,160.82.
• On Monday, June 22nd, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The stock was sold at an average price of $10.00, for a total transaction of $10,670.00.
• On Wednesday, June 17th, Eugene Nonko sold 6,667 shares of MediaAlpha stock. The stock was sold at an average price of $10.01, for a total transaction of $66,736.67.
• On Wednesday, June 17th, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The shares were sold at an average price of $10.00, for a total transaction of $10,670.00.
• On Tuesday, June 16th, Eugene Nonko sold 13,334 shares of MediaAlpha stock. The stock was sold at an average price of $10.00, for a total transaction of $133,340.00.
• On Tuesday, June 16th, Eugene Nonko sold 2,134 shares of MediaAlpha stock. The stock was sold at an average price of $10.00, for a total transaction of $21,340.00.
• On Wednesday, June 10th, Eugene Nonko sold 20,001 shares of MediaAlpha stock. The stock was sold at an average price of $10.00, for a total transaction of $200,010.00.
• On Wednesday, June 10th, Eugene Nonko sold 3,201 shares of MediaAlpha stock. The shares were sold at an average price of $10.00, for a total transaction of $32,010.00.
• On Wednesday, April 29th, Eugene Nonko sold 26,888 shares of MediaAlpha stock. The shares were sold at an average price of $10.01, for a total transaction of $269,148.88.

MediaAlpha Stock Up 4.2%

MediaAlpha stock traded up $0.43 during trading hours on Wednesday, reaching $10.79. 605,930 shares of the company’s stock were exchanged, compared to its average volume of 720,192. The firm’s 50 day simple moving average is $9.24 and its 200 day simple moving average is $10.06. MediaAlpha, Inc. has a twelve month low of $7.09 and a twelve month high of $13.92. The firm has a market capitalization of $672.44 million, a PE ratio of 16.85 and a beta of 1.16.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, April 29th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). The business had revenue of $310.00 million for the quarter, compared to the consensus estimate of $298.91 million. MediaAlpha had a net margin of 3.37% and a negative return on equity of 147.82%. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) EPS. Analysts anticipate that MediaAlpha, Inc. will post 1.02 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on MAX shares. Weiss Ratings downgraded shares of MediaAlpha from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, June 16th. Keefe, Bruyette & Woods reduced their target price on MediaAlpha from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Texas Capital raised MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. TD Cowen cut their price target on MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday. Finally, Capital One Financial set a $11.00 price objective on MediaAlpha in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MediaAlpha has an average rating of “Moderate Buy” and an average target price of $12.36.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Millennium Management LLC grew its holdings in shares of MediaAlpha by 680.9% during the third quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock valued at $16,268,000 after buying an additional 1,246,493 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of MediaAlpha by 29.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company’s stock worth $17,714,000 after acquiring an additional 309,455 shares during the last quarter. Clearline Capital LP lifted its position in MediaAlpha by 0.8% in the 4th quarter. Clearline Capital LP now owns 1,301,453 shares of the company’s stock valued at $16,854,000 after acquiring an additional 10,604 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in MediaAlpha by 24.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company’s stock valued at $9,876,000 after purchasing an additional 206,077 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in MediaAlpha by 10.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,045,400 shares of the company’s stock valued at $13,538,000 after purchasing an additional 100,300 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

MediaAlpha Company Profile

MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company’s platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.

The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.