Insider Selling: MediaAlpha (NYSE:MAX) CRO Sells $123,110.00 in Stock

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 13,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $9.47, for a total transaction of $123,110.00. Following the completion of the sale, the executive directly owned 280,528 shares of the company’s stock, valued at $2,656,600.16. This represents a 4.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 Friday, May 15th, Keith Cramer sold 13,000 shares of MediaAlpha stock. The shares were sold at an average price of $8.05, for a total transaction of $104,650.00.
• On Wednesday, April 15th, Keith Cramer sold 10,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.68, for a total transaction of $96,800.00.

MediaAlpha Stock Up 0.6%

NYSE MAX opened at $10.05 on Thursday. The company has a market capitalization of $626.62 million, a P/E ratio of 15.70 and a beta of 1.16. MediaAlpha, Inc. has a 12-month low of $7.09 and a 12-month high of $13.92. The firm has a 50-day moving average price of $9.18 and a two-hundred day moving average price of $10.14.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). The business had revenue of $310.00 million during 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 business’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) EPS. Equities analysts expect that MediaAlpha, Inc. will post 1.02 EPS for the current year.

Hedge Funds Weigh In On MediaAlpha

A number of institutional investors have recently added to or reduced their stakes in MAX. Millennium Management LLC increased its position in MediaAlpha by 680.9% during the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock worth $16,268,000 after purchasing an additional 1,246,493 shares in the last quarter. Victory Capital Management Inc. increased its holdings in MediaAlpha by 1,261.9% in the 3rd quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock worth $8,089,000 after purchasing an additional 658,625 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in MediaAlpha by 95.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company’s stock worth $12,045,000 after purchasing an additional 516,195 shares in the last quarter. Lazard Asset Management LLC acquired a new position in MediaAlpha in the 2nd quarter worth about $4,268,000. Finally, Lighthouse Investment Partners LLC increased its holdings in MediaAlpha by 831.7% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 353,930 shares of the company’s stock worth $4,028,000 after purchasing an additional 315,943 shares in the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of MediaAlpha from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Texas Capital upgraded shares of MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. JPMorgan Chase & Co. boosted their target price on shares of MediaAlpha from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods dropped their target price on shares of MediaAlpha from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Finally, The Goldman Sachs Group dropped their target price on shares of MediaAlpha from $13.50 to $11.50 and set a “neutral” rating for the company in a research report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.58.

About MediaAlpha

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.