MediaAlpha (NYSE:MAX) Stock: Insider Keith Cramer Sells 12,000 Shares

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 12,000 shares of MediaAlpha stock in a transaction on Monday, October 19th. The shares were sold at an average price of $11.39, for a total transaction of $136,680.00. Following the sale, the executive directly owned 239,303 shares of the company’s stock, valued at $2,725,661.17. This trade represents a 4.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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.

Keith Cramer also recently made the following trade(s):

• On Tuesday, September 15th, Keith Cramer sold 13,000 shares of MediaAlpha stock. The stock was sold at an average price of $11.49, for a total transaction of $149,370.00.
• On Monday, August 17th, Keith Cramer sold 13,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.76, for a total transaction of $165,880.00.

MediaAlpha Trading Up 8.0%

Shares of NYSE:MAX opened at $12.45 on Friday. MediaAlpha, Inc. has a 1 year low of $7.09 and a 1 year high of $14.70. The business has a fifty day simple moving average of $11.30 and a 200 day simple moving average of $11.00. The firm has a market cap of $762.38 million, a price-to-earnings ratio of 7.68 and a beta of 1.14.

MediaAlpha (NYSE:MAX) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.42. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%. The firm had revenue of $316.88 million during the quarter, compared to analysts’ expectations of $300.87 million. On average, sell-side analysts forecast that MediaAlpha, Inc. will post 1.40 EPS for the current year.

Key Headlines Impacting MediaAlpha

Here are the key news stories impacting MediaAlpha this week:

• Positive Sentiment: MediaAlpha’s most recent reported quarter materially exceeded expectations, with earnings of $0.65 per share versus the $0.23 consensus estimate and revenue of $316.9 million versus the $300.9 million forecast. Analysts expect approximately $1.40 in full-year EPS, providing a favorable fundamental backdrop.
• Positive Sentiment: Analyst sentiment remains generally constructive. MediaAlpha has a consensus “Moderate Buy” rating and an average price target of $13.79, above the stock’s recently cited trading level. Canaccord Genuity and RBC have price targets of $17 and $15, respectively.
• Neutral Sentiment: CRO Keith Cramer sold 12,000 shares for approximately $136,680, reducing his direct holdings by 4.78%. Director Eugene Nonko sold a combined 18,426 shares across transactions on October 19 and 21. All sales were made under pre-arranged Rule 10b5-1 plans to cover tax-withholding obligations from vested equity awards, limiting their value as a signal about management’s outlook. MediaAlpha insider sales article
• Negative Sentiment: The concentration of sales by a senior executive and director may weigh on sentiment and add near-term selling pressure, even though the transactions were relatively small compared with their remaining holdings and were not discretionary open-market sales.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MAX shares. Keefe, Bruyette & Woods lifted their price target on MediaAlpha from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. JPMorgan Chase & Co. started coverage on MediaAlpha in a report on Monday, August 24th. They issued a “neutral” rating and a $15.00 price objective on the stock. The Goldman Sachs Group dropped their price objective on MediaAlpha from $14.00 to $10.50 and set a “neutral” rating on the stock in a report on Wednesday, October 14th. Royal Bank Of Canada lifted their target price on shares of MediaAlpha from $11.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. Finally, Wall Street Zen upgraded shares of MediaAlpha from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.79.

Hedge Funds Weigh In On MediaAlpha

Several hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised 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 valued at $5,773,000 after buying an additional 300,871 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of MediaAlpha by 380.9% during the 1st quarter. Bank of America Corp DE now owns 279,704 shares of the company’s stock worth $2,601,000 after acquiring an additional 221,540 shares in the last quarter. Jacobs Asset Management LLC boosted its stake in shares of MediaAlpha by 31.1% during the 1st quarter. Jacobs Asset Management LLC now owns 924,443 shares of the company’s stock worth $8,597,000 after acquiring an additional 219,144 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of MediaAlpha by 24.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company’s stock worth $9,876,000 after acquiring an additional 206,077 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of MediaAlpha by 288.7% during the 1st quarter. Principal Financial Group Inc. now owns 137,613 shares of the company’s stock valued at $1,280,000 after acquiring an additional 102,210 shares during the last quarter. 64.39% of the stock is owned by institutional investors and hedge funds.

About MediaAlpha

MediaAlpha, Inc operates a technology platform that helps insurance carriers and distributors acquire customers through digital channels. Its marketplace connects consumers who are shopping for insurance with providers seeking qualified prospects, using data, analytics and automated systems to facilitate the matching process.

The company’s platform supports customer acquisition across insurance categories, including property and casualty products such as auto and home insurance, as well as health, life and Medicare-related coverage.