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

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 13,000 shares of the company’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $12.76, for a total value of $165,880.00. Following the transaction, the executive directly owned 264,303 shares in the company, valued at approximately $3,372,506.28. The trade was a 4.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 Monday, June 15th, Keith Cramer sold 13,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.47, for a total value of $123,110.00.

MediaAlpha Trading Down 4.0%

NYSE:MAX traded down $0.53 during mid-day trading on Monday, reaching $12.64. The company’s stock had a trading volume of 537,009 shares, compared to its average volume of 941,328. MediaAlpha, Inc. has a 12-month low of $7.09 and a 12-month high of $14.70. The firm’s fifty day moving average price is $12.44 and its two-hundred day moving average price is $10.31. The stock has a market cap of $774.33 million, a P/E ratio of 7.80 and a beta of 1.11.

MediaAlpha (NYSE:MAX) last posted its earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.42. The business had revenue of $316.88 million for the quarter, compared to analysts’ expectations of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. Analysts predict that MediaAlpha, Inc. will post 0.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MediaAlpha

Hedge funds have recently modified their holdings of the business. Millennium Management LLC grew its position in shares of MediaAlpha by 680.9% during the third 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. JPMorgan Chase & Co. boosted its stake in MediaAlpha by 29.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company’s stock worth $17,714,000 after purchasing an additional 309,455 shares during the period. Clearline Capital LP boosted its stake in MediaAlpha by 0.8% in the 4th quarter. Clearline Capital LP now owns 1,301,453 shares of the company’s stock worth $16,854,000 after purchasing an additional 10,604 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in MediaAlpha by 24.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company’s stock valued at $9,876,000 after buying an additional 206,077 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in MediaAlpha by 10.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,045,400 shares of the company’s stock valued at $13,538,000 after buying an additional 100,300 shares in the last quarter. Institutional investors own 64.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MAX. Wall Street Zen upgraded shares of MediaAlpha from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. 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 note on Thursday, April 30th. Zacks Research cut MediaAlpha from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Weiss Ratings upgraded MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 1st. Finally, Texas Capital raised MediaAlpha to a “strong-buy” rating in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, MediaAlpha presently has an average rating of “Moderate Buy” and an average price target of $13.86.

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.