Insider Selling: MediaAlpha (NYSE:MAX) CRO Sells 12,000 Shares of Company Stock

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 12,000 shares of the company’s stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $11.39, for a total value of $136,680.00. Following the transaction, the executive owned 239,303 shares of the company’s stock, valued at approximately $2,725,661.17. This trade represents a 4.78% decrease in their ownership of the stock. The sale was disclosed in a legal 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 Tuesday, September 15th, Keith Cramer sold 13,000 shares of MediaAlpha stock. The shares were sold at an average price of $11.49, for a total value of $149,370.00.
• 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 value of $165,880.00.

MediaAlpha Trading Down 2.3%

Shares of MAX traded down $0.28 during mid-day trading on Wednesday, hitting $11.52. 558,510 shares of the company traded hands, compared to its average volume of 1,006,981. The business has a 50-day moving average of $11.32 and a 200 day moving average of $10.98. The stock has a market capitalization of $705.41 million, a price-to-earnings ratio of 7.11 and a beta of 1.14. MediaAlpha, Inc. has a one year low of $7.09 and a one year high of $14.70.

MediaAlpha (NYSE:MAX) last posted its quarterly 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 negative return on equity of 301.42% and a net margin of 7.94%. As a group, analysts anticipate that MediaAlpha, Inc. will post 1.40 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MAX. Arrowstreet Capital Limited Partnership increased its position in MediaAlpha by 24.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company’s stock worth $9,876,000 after buying an additional 206,077 shares during the last quarter. Jacobs Asset Management LLC lifted its position in shares of MediaAlpha by 31.1% in the first quarter. Jacobs Asset Management LLC now owns 924,443 shares of the company’s stock valued at $8,597,000 after buying an additional 219,144 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of MediaAlpha by 94.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 620,669 shares of the company’s stock worth $5,773,000 after acquiring an additional 300,871 shares during the period. Triad Investment Management raised its stake in MediaAlpha by 10.4% in the 2nd quarter. Triad Investment Management now owns 368,731 shares of the company’s stock valued at $4,635,000 after acquiring an additional 34,867 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in MediaAlpha by 6.7% during the 4th quarter. Pacer Advisors Inc. now owns 263,024 shares of the company’s stock valued at $3,406,000 after purchasing an additional 16,597 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective on MediaAlpha from $11.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday, August 5th. TD Cowen dropped their target price on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, June 23rd. Wall Street Zen raised shares of MediaAlpha from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Zacks Research upgraded shares of MediaAlpha from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 22nd. Finally, Canaccord Genuity Group upped their price target on shares of MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.79.

About MediaAlpha

MediaAlpha, Inc (NYSE: MAX) operates a technology platform designed to help insurance companies and distributors acquire customers through digital channels. Its platform connects consumers who are shopping for insurance with providers and other distribution partners, using data, analytics and automated transactions to facilitate customer acquisition.

The company’s services primarily support insurance shopping and marketing across categories such as auto, home, health and life insurance.