Keith Cramer Sells 13,000 Shares of MediaAlpha (NYSE:MAX) Stock

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $8.05, for a total transaction of $104,650.00. Following the transaction, the executive owned 293,528 shares of the company’s stock, valued at approximately $2,362,900.40. This represents a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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.

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

• On Wednesday, April 15th, Keith Cramer sold 10,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.68, for a total transaction of $96,800.00.
• On Monday, March 16th, Keith Cramer sold 10,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.89, for a total transaction of $98,900.00.

MediaAlpha Price Performance

MAX stock opened at $8.37 on Thursday. MediaAlpha, Inc. has a 1 year low of $7.09 and a 1 year high of $13.92. The company has a 50 day simple moving average of $9.36 and a 200 day simple moving average of $10.63. The stock has a market cap of $521.56 million, a price-to-earnings ratio of 13.07 and a beta of 1.16.

MediaAlpha (NYSE:MAX) last issued its earnings results 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). MediaAlpha had a negative return on equity of 147.82% and a net margin of 3.37%.The firm had revenue of $310.00 million during the quarter, compared to analyst estimates of $298.91 million. During the same period in the previous year, the company earned ($0.04) EPS. MediaAlpha’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities research analysts anticipate that MediaAlpha, Inc. will post 1.02 EPS for the current fiscal year.

Institutional Investors Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently made changes to their positions in MAX. Creative Planning acquired a new stake in shares of MediaAlpha in the second quarter valued at about $168,000. JPMorgan Chase & Co. raised its stake in MediaAlpha by 75.9% during the second quarter. JPMorgan Chase & Co. now owns 542,246 shares of the company’s stock worth $5,938,000 after buying an additional 233,948 shares during the last quarter. Legal & General Group Plc raised its stake in MediaAlpha by 29.3% during the second quarter. Legal & General Group Plc now owns 36,315 shares of the company’s stock worth $398,000 after buying an additional 8,229 shares during the last quarter. Rhumbline Advisers boosted its position in MediaAlpha by 34.4% during the second quarter. Rhumbline Advisers now owns 55,622 shares of the company’s stock valued at $609,000 after acquiring an additional 14,234 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in MediaAlpha during the second quarter valued at $153,000. Institutional investors and hedge funds own 64.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on MAX shares. Royal Bank Of Canada lowered their target price on MediaAlpha from $18.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. JPMorgan Chase & Co. upped their price target 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. The Goldman Sachs Group decreased their price target 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. Wall Street Zen cut shares of MediaAlpha from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Zacks Research cut shares of MediaAlpha from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 25th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $12.90.

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.