Insider Selling: MediaAlpha (NYSE:MAX) CRO Sells $149,370.00 in Stock

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 13,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $11.49, for a total transaction of $149,370.00. Following the completion of the sale, the executive directly owned 251,303 shares of the company’s stock, valued at approximately $2,887,471.47. This represents a 4.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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.

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

• On Monday, August 17th, Keith Cramer sold 13,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.76, for a total transaction of $165,880.00.

MediaAlpha Price Performance

NYSE MAX opened at $10.49 on Friday. MediaAlpha, Inc. has a 12 month low of $7.09 and a 12 month high of $14.70. The firm has a market capitalization of $642.80 million, a PE ratio of 6.48 and a beta of 1.16. The company’s 50 day simple moving average is $12.78 and its 200 day simple moving average is $10.89.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, July 29th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.23 by $0.42. The firm had revenue of $316.88 million for the quarter, compared to analysts’ expectations of $300.87 million. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%. Sell-side analysts anticipate that MediaAlpha, Inc. will post 1.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MediaAlpha

Several large investors have recently modified their holdings of MAX. Triad Investment Management raised its position in shares of MediaAlpha by 10.4% during the second quarter. Triad Investment Management now owns 368,731 shares of the company’s stock worth $4,635,000 after purchasing an additional 34,867 shares during the period. Squarepoint Ops LLC increased its stake in MediaAlpha by 8.7% in the 2nd quarter. Squarepoint Ops LLC now owns 234,255 shares of the company’s stock worth $2,945,000 after purchasing an additional 18,714 shares in the last quarter. Corient Private Wealth LP increased its stake in MediaAlpha by 50.7% in the 2nd quarter. Corient Private Wealth LP now owns 23,451 shares of the company’s stock worth $295,000 after purchasing an additional 7,892 shares in the last quarter. AXQ Capital LP acquired a new stake in MediaAlpha during the 2nd quarter worth about $316,000. Finally, Globeflex Capital L P acquired a new stake in MediaAlpha during the 2nd quarter worth about $702,000. 64.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

MAX has been the subject of several research reports. JPMorgan Chase & Co. began coverage on MediaAlpha in a research note on Monday, August 24th. They set a “neutral” rating and a $15.00 target price for the company. Keefe, Bruyette & Woods upped their price target on shares of MediaAlpha from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. The Goldman Sachs Group upped their price target on shares of MediaAlpha from $10.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Zacks Research upgraded shares of MediaAlpha from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. Finally, Canaccord Genuity Group lifted their price objective on shares of MediaAlpha from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.29.

About MediaAlpha

MediaAlpha, Inc operates a technology platform that connects consumers seeking insurance and other financial products with providers seeking qualified customer leads. Its marketplace uses data, analytics and real-time bidding technology to help carriers, agencies and other distributors acquire customers across digital channels.

The company’s platform primarily supports the marketing and distribution of insurance products, including property and casualty, health and life insurance. MediaAlpha provides tools for managing customer acquisition campaigns, matching consumer inquiries with relevant providers, and optimizing marketing performance across search, display and other online channels.

MediaAlpha was founded in 2014 and is headquartered in Los Angeles, California.