Insider Selling: MediaAlpha (NYSE:MAX) Director Sells 6,700 Shares of Stock

MediaAlpha, Inc. (NYSE:MAX) Director Eugene Nonko sold 6,700 shares of the company’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $11.70, for a total value of $78,390.00. Following the completion of the transaction, the director directly owned 1,522,620 shares of the company’s stock, valued at approximately $17,814,654. This represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Eugene Nonko also recently made the following trade(s):

• On Wednesday, January 14th, Eugene Nonko sold 5,400 shares of MediaAlpha stock. The stock was sold at an average price of $11.70, for a total value of $63,180.00.
• On Monday, January 12th, Eugene Nonko sold 6,700 shares of MediaAlpha stock. The stock was sold at an average price of $11.52, for a total value of $77,184.00.
• On Monday, January 12th, Eugene Nonko sold 5,400 shares of MediaAlpha stock. The shares were sold at an average price of $11.52, for a total transaction of $62,208.00.
• On Wednesday, January 7th, Eugene Nonko sold 6,700 shares of MediaAlpha stock. The shares were sold at an average price of $11.66, for a total value of $78,122.00.
• On Wednesday, January 7th, Eugene Nonko sold 5,400 shares of MediaAlpha stock. The shares were sold at an average price of $11.67, for a total value of $63,018.00.
• On Monday, January 5th, Eugene Nonko sold 6,700 shares of MediaAlpha stock. The shares were sold at an average price of $11.98, for a total value of $80,266.00.
• On Monday, January 5th, Eugene Nonko sold 5,400 shares of MediaAlpha stock. The stock was sold at an average price of $11.99, for a total value of $64,746.00.
• On Wednesday, December 31st, Eugene Nonko sold 6,700 shares of MediaAlpha stock. The shares were sold at an average price of $12.93, for a total value of $86,631.00.
• On Wednesday, December 31st, Eugene Nonko sold 5,400 shares of MediaAlpha stock. The stock was sold at an average price of $12.93, for a total value of $69,822.00.
• On Monday, December 29th, Eugene Nonko sold 6,700 shares of MediaAlpha stock. The shares were sold at an average price of $12.65, for a total transaction of $84,755.00.

MediaAlpha Stock Performance

Shares of NYSE:MAX traded down $0.21 during midday trading on Wednesday, reaching $11.39. 635,655 shares of the company’s stock traded hands, compared to its average volume of 456,739. The stock has a 50 day moving average of $12.60 and a 200 day moving average of $11.64. The company has a market cap of $742.22 million, a price-to-earnings ratio of -379.51 and a beta of 1.21. MediaAlpha, Inc. has a one year low of $7.33 and a one year high of $13.92.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.05. The business had revenue of $306.51 million for the quarter, compared to analysts’ expectations of $283.30 million. MediaAlpha had a negative net margin of 0.10% and a negative return on equity of 71.02%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 EPS. Sell-side analysts predict that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

Hedge Funds Weigh In On MediaAlpha

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC lifted its stake in shares of MediaAlpha by 680.9% during the 3rd 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 during the period. JPMorgan Chase & Co. raised its position in shares of MediaAlpha by 95.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company’s stock valued at $12,045,000 after purchasing an additional 516,195 shares in the last quarter. Shay Capital LLC grew its stake in MediaAlpha by 17.9% in the third quarter. Shay Capital LLC now owns 790,100 shares of the company’s stock worth $8,991,000 after purchasing an additional 120,100 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of MediaAlpha by 5.1% in the 2nd quarter. Geode Capital Management LLC now owns 764,702 shares of the company’s stock valued at $8,375,000 after buying an additional 36,949 shares during the period. Finally, Victory Capital Management Inc. increased its position in MediaAlpha by 1,261.9% in the third quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock worth $8,089,000 after buying an additional 658,625 shares during the period. Institutional investors and hedge funds own 64.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MAX shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 price objective on shares of MediaAlpha in a research report on Thursday, October 30th. The Goldman Sachs Group set a $13.50 price objective on MediaAlpha in a report on Friday, October 31st. Weiss Ratings restated a “sell (d)” rating on shares of MediaAlpha in a research report on Monday, December 29th. Keefe, Bruyette & Woods upped their price objective on MediaAlpha from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. raised their target price on MediaAlpha from $14.00 to $15.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

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.