MediaAlpha (NYSE:MAX) Director Sells $92,791.54 in Stock

MediaAlpha, Inc. (NYSE:MAX) Director Eugene Nonko sold 7,778 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $11.93, for a total transaction of $92,791.54. Following the completion of the transaction, the director owned 1,179,493 shares in the company, valued at approximately $14,071,351.49. This trade represents a 0.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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.

Eugene Nonko also recently made the following trade(s):

• On Wednesday, July 1st, Eugene Nonko sold 9,059 shares of MediaAlpha stock. The stock was sold at an average price of $12.80, for a total value of $115,955.20.
• On Wednesday, July 1st, Eugene Nonko sold 4,512 shares of MediaAlpha stock. The stock was sold at an average price of $12.77, for a total value of $57,618.24.
• On Monday, June 29th, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The shares were sold at an average price of $11.81, for a total transaction of $31,497.27.
• On Wednesday, June 24th, Eugene Nonko sold 6,667 shares of MediaAlpha stock. The shares were sold at an average price of $10.47, for a total value of $69,803.49.
• On Wednesday, June 24th, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The stock was sold at an average price of $10.46, for a total transaction of $11,160.82.
• On Monday, June 22nd, Eugene Nonko sold 6,667 shares of MediaAlpha stock. The shares were sold at an average price of $10.15, for a total value of $67,670.05.
• On Monday, June 22nd, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The shares were sold at an average price of $10.00, for a total value of $10,670.00.
• On Wednesday, June 17th, Eugene Nonko sold 6,667 shares of MediaAlpha stock. The stock was sold at an average price of $10.01, for a total transaction of $66,736.67.
• On Wednesday, June 17th, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The stock was sold at an average price of $10.00, for a total transaction of $10,670.00.
• On Tuesday, June 16th, Eugene Nonko sold 13,334 shares of MediaAlpha stock. The stock was sold at an average price of $10.00, for a total transaction of $133,340.00.

MediaAlpha Trading Up 1.9%

Shares of MAX stock traded up $0.24 during midday trading on Wednesday, reaching $12.81. 1,320,780 shares of the stock were exchanged, compared to its average volume of 691,974. MediaAlpha, Inc. has a 1 year low of $7.09 and a 1 year high of $13.92. The firm has a market cap of $798.45 million, a PE ratio of 20.01 and a beta of 1.08. The company’s 50 day moving average is $9.50 and its two-hundred day moving average is $10.00.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $310.00 million for 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 company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. As a group, equities analysts expect that MediaAlpha, Inc. will post 0.99 EPS for the current fiscal year.

Analyst Ratings Changes

MAX has been the subject of a number of analyst reports. Keefe, Bruyette & Woods decreased their target price on shares of MediaAlpha from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Texas Capital raised MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. Capital One Financial set a $11.00 target price on MediaAlpha in a report on Tuesday, June 9th. Wall Street Zen downgraded MediaAlpha from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, TD Cowen lowered their price target on MediaAlpha from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.36.

Institutional Investors Weigh In On MediaAlpha

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its stake in MediaAlpha by 680.9% during the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock valued at $16,268,000 after buying an additional 1,246,493 shares during the last quarter. Victory Capital Management Inc. boosted 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 worth $8,089,000 after buying an additional 658,625 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of MediaAlpha by 95.2% in the third quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company’s stock worth $12,045,000 after acquiring an additional 516,195 shares during the period. Lazard Asset Management LLC bought a new stake in shares of MediaAlpha in the second quarter worth $4,268,000. Finally, Lighthouse Investment Partners LLC increased its position in MediaAlpha by 831.7% during the third quarter. Lighthouse Investment Partners LLC now owns 353,930 shares of the company’s stock valued at $4,028,000 after acquiring an additional 315,943 shares during the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.