MediaAlpha (NYSE:MAX) CRO Sells $104,650.00 in Stock

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 13,000 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $8.05, for a total value of $104,650.00. Following the transaction, the executive owned 293,528 shares in the company, valued at $2,362,900.40. The trade was a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 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 value 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 value of $98,900.00.

MediaAlpha Stock Performance

Shares of MediaAlpha stock traded down $0.03 on Tuesday, reaching $8.26. 660,287 shares of the company’s stock were exchanged, compared to its average volume of 757,399. The company has a market capitalization of $515.20 million, a P/E ratio of 12.91 and a beta of 1.16. MediaAlpha, Inc. has a 52 week low of $7.09 and a 52 week high of $13.92. The firm’s 50-day moving average is $9.43 and its two-hundred day moving average is $10.68.

MediaAlpha (NYSE:MAX) last posted its quarterly 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). The business had revenue of $310.00 million for the quarter, compared to the consensus estimate of $298.91 million. MediaAlpha had a negative return on equity of 147.82% and a net margin of 3.37%.MediaAlpha’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.04) earnings per share. On average, analysts expect that MediaAlpha, Inc. will post 1.02 EPS for the current fiscal year.

Analyst Ratings Changes

MAX has been the topic of a number of research reports. Zacks Research lowered MediaAlpha from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 25th. Keefe, Bruyette & Woods lowered their target price on MediaAlpha from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Wall Street Zen lowered MediaAlpha from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Royal Bank Of Canada lowered their target price on MediaAlpha from $18.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. upped their target price on MediaAlpha from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.90.

Institutional Investors Weigh In On MediaAlpha

A number of institutional investors and hedge funds have recently bought and sold shares of MAX. Creative Planning purchased a new stake in MediaAlpha in the 2nd quarter valued at $168,000. JPMorgan Chase & Co. raised its position in MediaAlpha by 75.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 542,246 shares of the company’s stock valued at $5,938,000 after buying an additional 233,948 shares during the last quarter. Legal & General Group Plc raised its position in MediaAlpha by 29.3% in the 2nd quarter. Legal & General Group Plc now owns 36,315 shares of the company’s stock valued at $398,000 after buying an additional 8,229 shares during the last quarter. Rhumbline Advisers raised its position in MediaAlpha by 34.4% in the 2nd quarter. Rhumbline Advisers now owns 55,622 shares of the company’s stock valued at $609,000 after buying an additional 14,234 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in MediaAlpha in the 2nd quarter valued at $153,000. 64.39% of the stock is owned by hedge funds and other institutional investors.

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.