MediaAlpha (NYSE:MAX) CRO Sells $123,110.00 in Stock

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $9.47, for a total transaction of $123,110.00. Following the completion of the transaction, the executive owned 280,528 shares of the company’s stock, valued at approximately $2,656,600.16. This trade represents a 4.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 Friday, May 15th, Keith Cramer sold 13,000 shares of MediaAlpha stock. The shares were sold at an average price of $8.05, for a total transaction of $104,650.00.
• On Wednesday, April 15th, Keith Cramer sold 10,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.68, for a total transaction of $96,800.00.

MediaAlpha Stock Up 4.2%

NYSE MAX traded up $0.39 on Monday, hitting $9.84. The company’s stock had a trading volume of 797,196 shares, compared to its average volume of 724,048. MediaAlpha, Inc. has a 1-year low of $7.09 and a 1-year high of $13.92. The company’s 50-day moving average is $9.14 and its 200 day moving average is $10.20. The firm has a market cap of $613.71 million, a PE ratio of 15.38 and a beta of 1.16.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). MediaAlpha had a net margin of 3.37% and a negative return on equity of 147.82%. The business had revenue of $310.00 million during the quarter, compared to analyst estimates of $298.91 million. During the same quarter last year, the company posted ($0.04) earnings per share. The company’s revenue was up 17.3% compared to the same quarter last year. On average, equities analysts expect that MediaAlpha, Inc. will post 1.02 EPS for the current year.

Institutional Investors Weigh In On MediaAlpha

Several large investors have recently modified their holdings of the company. Glenmede Trust Co. NA acquired a new stake in shares of MediaAlpha during the first quarter worth $122,000. Bank of America Corp DE increased its position in shares of MediaAlpha by 380.9% during the first quarter. Bank of America Corp DE now owns 279,704 shares of the company’s stock worth $2,601,000 after buying an additional 221,540 shares during the period. Amundi increased its position in shares of MediaAlpha by 33.2% during the first quarter. Amundi now owns 78,104 shares of the company’s stock worth $726,000 after buying an additional 19,488 shares during the period. Stoic Point Capital Management LLC increased its position in shares of MediaAlpha by 6.6% during the first quarter. Stoic Point Capital Management LLC now owns 221,041 shares of the company’s stock worth $2,056,000 after buying an additional 13,743 shares during the period. Finally, Quantinno Capital Management LP increased its position in shares of MediaAlpha by 150.9% during the first quarter. Quantinno Capital Management LP now owns 107,274 shares of the company’s stock worth $998,000 after buying an additional 64,526 shares during the period. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MAX shares. Capital One Financial set a $11.00 price target on shares of MediaAlpha in a research report on Tuesday, June 9th. JPMorgan Chase & Co. upped their price target on shares of MediaAlpha from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods decreased their price objective on shares of MediaAlpha from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Zacks Research cut shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Finally, Royal Bank Of Canada decreased their price objective on shares of MediaAlpha from $18.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.58.

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.