MediaAlpha (NYSE:MAX) Director Sells 7,273 Shares of Company Stock

MediaAlpha, Inc. (NYSE:MAX) Director Eugene Nonko sold 7,273 shares of the firm’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $11.63, for a total transaction of $84,584.99. Following the sale, the director directly owned 812,730 shares of the company’s stock, valued at approximately $9,452,049.90. This trade represents a 0.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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, October 21st, Eugene Nonko sold 1,940 shares of MediaAlpha stock. The shares were sold at an average price of $11.63, for a total transaction of $22,562.20.
• On Monday, October 19th, Eugene Nonko sold 7,273 shares of MediaAlpha stock. The shares were sold at an average price of $11.39, for a total transaction of $82,839.47.
• On Monday, October 19th, Eugene Nonko sold 1,940 shares of MediaAlpha stock. The stock was sold at an average price of $11.39, for a total transaction of $22,096.60.
• On Wednesday, October 14th, Eugene Nonko sold 6,667 shares of MediaAlpha stock. The stock was sold at an average price of $10.37, for a total transaction of $69,136.79.
• On Wednesday, October 14th, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The stock was sold at an average price of $10.41, for a total transaction of $11,107.47.
• On Monday, October 12th, Eugene Nonko sold 6,667 shares of MediaAlpha stock. The shares were sold at an average price of $10.15, for a total transaction of $67,670.05.
• On Monday, October 12th, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The shares were sold at an average price of $10.14, for a total transaction of $10,819.38.
• On Monday, September 21st, Eugene Nonko sold 6,667 shares of MediaAlpha stock. The shares were sold at an average price of $10.53, for a total transaction of $70,203.51.
• On Monday, September 21st, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The stock was sold at an average price of $10.54, for a total transaction of $11,246.18.
• On Tuesday, September 15th, Eugene Nonko sold 7,273 shares of MediaAlpha stock. The stock was sold at an average price of $11.49, for a total transaction of $83,566.77.

MediaAlpha Price Performance

Shares of MAX traded down $0.28 during trading hours on Wednesday, hitting $11.52. The stock had a trading volume of 558,510 shares, compared to its average volume of 1,006,981. MediaAlpha, Inc. has a 1-year low of $7.09 and a 1-year high of $14.70. The firm has a market capitalization of $705.41 million, a P/E ratio of 7.11 and a beta of 1.14. The firm has a 50 day simple moving average of $11.32 and a 200-day simple moving average of $10.98.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.42. The business had revenue of $316.88 million for the quarter, compared to the consensus estimate of $300.87 million. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%. Equities analysts predict that MediaAlpha, Inc. will post 1.40 EPS for the current fiscal year.

Institutional Trading of MediaAlpha

Several institutional investors have recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of MediaAlpha by 380.9% in the first quarter. Bank of America Corp DE now owns 279,704 shares of the company’s stock valued at $2,601,000 after purchasing an additional 221,540 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in MediaAlpha by 94.1% during the first quarter. Dimensional Fund Advisors LP now owns 620,669 shares of the company’s stock worth $5,773,000 after purchasing an additional 300,871 shares during the last quarter. Jacobs Asset Management LLC boosted its holdings in MediaAlpha by 31.1% during the first quarter. Jacobs Asset Management LLC now owns 924,443 shares of the company’s stock worth $8,597,000 after purchasing an additional 219,144 shares during the last quarter. Globeflex Capital L P bought a new stake in MediaAlpha in the 2nd quarter worth about $702,000. Finally, Principal Financial Group Inc. grew its position in MediaAlpha by 288.7% in the 1st quarter. Principal Financial Group Inc. now owns 137,613 shares of the company’s stock worth $1,280,000 after purchasing an additional 102,210 shares in the last quarter. Institutional investors own 64.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on MAX shares. JPMorgan Chase & Co. assumed coverage on MediaAlpha in a research report on Monday, August 24th. They set a “neutral” rating and a $15.00 target price on the stock. Canaccord Genuity Group lifted their price target on shares of MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Zacks Research upgraded shares of MediaAlpha from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 22nd. Keefe, Bruyette & Woods boosted their price target on shares of MediaAlpha from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Finally, TD Cowen lowered their price objective on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, June 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.79.

About MediaAlpha

MediaAlpha, Inc (NYSE: MAX) operates a technology platform designed to help insurance companies and distributors acquire customers through digital channels. Its platform connects consumers who are shopping for insurance with providers and other distribution partners, using data, analytics and automated transactions to facilitate customer acquisition.

The company’s services primarily support insurance shopping and marketing across categories such as auto, home, health and life insurance.