Insider Selling: MediaAlpha (NYSE:MAX) Director Sells 93,279 Shares of Stock

MediaAlpha, Inc. (NYSE:MAX) Director Eugene Nonko sold 93,279 shares of the firm’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $15.36, for a total value of $1,432,765.44. Following the completion of the sale, the director directly owned 458,428 shares in the company, valued at approximately $7,041,454.08. This represents a 16.91% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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, November 4th, Eugene Nonko sold 5,667 shares of MediaAlpha stock. The stock was sold at an average price of $15.25, for a total value of $86,421.75.
• On Tuesday, November 3rd, Eugene Nonko sold 160,185 shares of MediaAlpha stock. The stock was sold at an average price of $15.04, for a total value of $2,409,182.40.
• On Tuesday, November 3rd, Eugene Nonko sold 15,022 shares of MediaAlpha stock. The shares were sold at an average price of $14.93, for a total value of $224,278.46.
• On Monday, November 2nd, Eugene Nonko sold 78,009 shares of MediaAlpha stock. The shares were sold at an average price of $14.72, for a total value of $1,148,292.48.
• On Monday, November 2nd, Eugene Nonko sold 109,401 shares of MediaAlpha stock. The stock was sold at an average price of $14.79, for a total value of $1,618,040.79.
• On Wednesday, October 28th, Eugene Nonko sold 7,273 shares of MediaAlpha stock. The stock was sold at an average price of $11.63, for a total value of $84,584.99.
• On Wednesday, October 28th, Eugene Nonko sold 1,940 shares of MediaAlpha stock. The stock was sold at an average price of $11.63, for a total transaction of $22,562.20.
• On Tuesday, October 27th, Eugene Nonko sold 8,283 shares of MediaAlpha stock. The shares were sold at an average price of $11.85, for a total transaction of $98,153.55.
• On Tuesday, October 27th, Eugene Nonko sold 3,394 shares of MediaAlpha stock. The shares were sold at an average price of $11.92, for a total transaction of $40,456.48.
• On Monday, October 26th, Eugene Nonko sold 7,273 shares of MediaAlpha stock. The shares were sold at an average price of $11.83, for a total transaction of $86,039.59.

MediaAlpha Price Performance

NYSE:MAX traded down $0.13 on Wednesday, hitting $15.02. The company had a trading volume of 2,336,871 shares, compared to its average volume of 1,167,518. MediaAlpha, Inc. has a 52 week low of $7.09 and a 52 week high of $15.99. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 8.49. The stock has a market capitalization of $920.00 million, a price-to-earnings ratio of 8.25 and a beta of 1.12. The firm has a 50 day moving average of $11.36 and a two-hundred day moving average of $10.69.

MediaAlpha (NYSE:MAX) last posted its earnings results on Wednesday, October 28th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.18. MediaAlpha had a net margin of 8.35% and a negative return on equity of 994.23%. The firm had revenue of $375.95 million for the quarter, compared to analysts’ expectations of $347.93 million. On average, research analysts anticipate that MediaAlpha, Inc. will post 1.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MAX. Wall Street Zen lowered shares of MediaAlpha from a “strong-buy” rating to a “buy” rating in a report on Saturday. Royal Bank Of Canada raised 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 Thursday, October 29th. Canaccord Genuity Group lifted their price target on shares of MediaAlpha from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. JPMorgan Chase & Co. boosted their price objective on shares of MediaAlpha from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, October 29th. Finally, Weiss Ratings upgraded MediaAlpha from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, MediaAlpha has an average rating of “Moderate Buy” and an average target price of $14.71.

Hedge Funds Weigh In On MediaAlpha

A number of hedge funds and other institutional investors have recently made changes to their positions in MAX. Allspring Global Investments Holdings LLC boosted its holdings in MediaAlpha by 4.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 46,677 shares of the company’s stock valued at $452,000 after acquiring an additional 1,846 shares during the last quarter. Covestor Ltd raised its holdings in MediaAlpha by 21.2% during the 3rd quarter. Covestor Ltd now owns 5,788 shares of the company’s stock worth $56,000 after purchasing an additional 1,011 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in MediaAlpha during the 3rd quarter worth approximately $248,000. State of Wyoming bought a new position in MediaAlpha during the 3rd quarter worth approximately $109,000. Finally, Triad Investment Management lifted its position in shares of MediaAlpha by 10.4% in the 2nd quarter. Triad Investment Management now owns 368,731 shares of the company’s stock worth $4,635,000 after purchasing an additional 34,867 shares during the period. 64.39% of the stock is owned by institutional investors and hedge funds.

Key MediaAlpha News

Here are the key news stories impacting MediaAlpha this week:

• Positive Sentiment: MediaAlpha’s third-quarter results beat expectations, while its earnings call highlighted broadening insurance demand. Growth in home insurance, increased spending by insurance carriers, and AI tools supporting marketplace gains could bolster the company’s outlook. Read the article
• Neutral Sentiment: Several insiders, including Director Eugene Nonko, insider Steven Yi, and CTO Kuanling Yeh, reported selling shares. Some transactions were conducted under pre-arranged Rule 10b5-1 plans, and filings cite tax withholding on vested equity awards, which may make the sales less indicative of a change in confidence. Still, the volume of sales could draw investor attention. View the SEC filing

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.