MediaAlpha (NYSE:MAX) CRO Sells $128,300.00 in Stock

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 10,000 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $12.83, for a total value of $128,300.00. Following the completion of the sale, the executive owned 187,169 shares in the company, valued at $2,401,378.27. This represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

MediaAlpha Stock Performance

MediaAlpha stock traded down $0.26 during midday trading on Wednesday, reaching $12.69. 389,269 shares of the company were exchanged, compared to its average volume of 528,212. The firm’s 50-day simple moving average is $12.20 and its 200-day simple moving average is $11.41. MediaAlpha, Inc. has a 1 year low of $7.33 and a 1 year high of $13.92. The company has a market capitalization of $827.01 million, a price-to-earnings ratio of -422.86 and a beta of 1.21.

MediaAlpha (NYSE:MAX) last released its earnings results on Wednesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The company had revenue of $306.51 million for the quarter, compared to analyst estimates of $283.30 million. MediaAlpha had a negative net margin of 0.10% and a negative return on equity of 71.02%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 EPS. On average, analysts forecast that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. The Goldman Sachs Group set a $13.50 price target on MediaAlpha in a report on Friday, October 31st. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 target price on shares of MediaAlpha in a research note on Thursday, October 30th. Keefe, Bruyette & Woods increased their target price on MediaAlpha from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Zacks Research raised MediaAlpha from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of MediaAlpha in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.25.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MAX. Clearline Capital LP grew its position in MediaAlpha by 123.4% during the first quarter. Clearline Capital LP now owns 2,654,921 shares of the company’s stock valued at $24,531,000 after acquiring an additional 1,466,760 shares during the period. Millennium Management LLC lifted its stake in shares of MediaAlpha by 680.9% in the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock valued at $16,268,000 after purchasing an additional 1,246,493 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of MediaAlpha by 1,261.9% in the 3rd quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock valued at $8,089,000 after purchasing an additional 658,625 shares in the last quarter. Broad Bay Capital Management LP grew its holdings in shares of MediaAlpha by 23.8% during the 1st quarter. Broad Bay Capital Management LP now owns 2,747,778 shares of the company’s stock worth $25,389,000 after purchasing an additional 529,093 shares during the period. Finally, JPMorgan Chase & Co. increased its position in MediaAlpha by 95.2% during 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. 64.39% of the stock is owned by hedge funds and other institutional investors.

About MediaAlpha

MediaAlpha, Inc, through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.