MediaAlpha (NYSE:MAX) Director Eugene Nonko Sells 6,700 Shares

MediaAlpha, Inc. (NYSE:MAX) Director Eugene Nonko sold 6,700 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $12.79, for a total transaction of $85,693.00. Following the transaction, the director owned 1,603,020 shares of the company’s stock, valued at approximately $20,502,625.80. This represents a 0.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, December 17th, Eugene Nonko sold 5,400 shares of MediaAlpha stock. The stock was sold at an average price of $12.80, for a total value of $69,120.00.
• On Monday, December 15th, Eugene Nonko sold 6,700 shares of MediaAlpha stock. The shares were sold at an average price of $12.83, for a total value of $85,961.00.
• On Monday, December 15th, Eugene Nonko sold 5,400 shares of MediaAlpha stock. The shares were sold at an average price of $12.84, for a total value of $69,336.00.
• On Wednesday, December 10th, Eugene Nonko sold 6,700 shares of MediaAlpha stock. The shares were sold at an average price of $13.49, for a total value of $90,383.00.
• On Wednesday, December 10th, Eugene Nonko sold 5,400 shares of MediaAlpha stock. The stock was sold at an average price of $13.50, for a total transaction of $72,900.00.
• On Monday, December 8th, Eugene Nonko sold 6,700 shares of MediaAlpha stock. The shares were sold at an average price of $13.09, for a total transaction of $87,703.00.
• On Monday, December 8th, Eugene Nonko sold 5,400 shares of MediaAlpha stock. The shares were sold at an average price of $13.09, for a total transaction of $70,686.00.
• On Wednesday, December 3rd, Eugene Nonko sold 6,700 shares of MediaAlpha stock. The stock was sold at an average price of $13.38, for a total transaction of $89,646.00.
• On Wednesday, December 3rd, Eugene Nonko sold 5,400 shares of MediaAlpha stock. The stock was sold at an average price of $13.38, for a total value of $72,252.00.
• On Monday, December 1st, Eugene Nonko sold 6,700 shares of MediaAlpha stock. The stock was sold at an average price of $12.61, for a total value of $84,487.00.

MediaAlpha Stock Down 2.0%

MAX traded down $0.26 during trading on Wednesday, hitting $12.69. The company’s stock had a trading volume of 389,269 shares, compared to its average volume of 528,212. The stock has a market capitalization of $827.01 million, a price-to-earnings ratio of -422.86 and a beta of 1.21. The firm’s 50 day moving average price is $12.20 and its two-hundred day moving average price is $11.41. MediaAlpha, Inc. has a 12 month low of $7.33 and a 12 month high of $13.92.

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

Hedge Funds Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently made changes to their positions in the company. Clearline Capital LP lifted its holdings in MediaAlpha by 123.4% during the first quarter. Clearline Capital LP now owns 2,654,921 shares of the company’s stock worth $24,531,000 after acquiring an additional 1,466,760 shares in the last quarter. Millennium Management LLC increased its holdings in shares of MediaAlpha by 680.9% in the third quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock worth $16,268,000 after acquiring an additional 1,246,493 shares in the last quarter. Victory Capital Management Inc. increased its stake in MediaAlpha by 1,261.9% during the 3rd quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock worth $8,089,000 after purchasing an additional 658,625 shares in the last quarter. Broad Bay Capital Management LP lifted its stake in MediaAlpha by 23.8% in the first quarter. Broad Bay Capital Management LP now owns 2,747,778 shares of the company’s stock valued at $25,389,000 after buying an additional 529,093 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of MediaAlpha by 95.2% in the third quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company’s stock valued at $12,045,000 after buying an additional 516,195 shares during the period. Institutional investors and hedge funds own 64.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on MAX. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 price objective on shares of MediaAlpha in a report on Thursday, October 30th. Weiss Ratings reissued a “sell (d)” rating on shares of MediaAlpha in a report on Monday. The Goldman Sachs Group set a $13.50 price objective on shares of MediaAlpha in a report on Friday, October 31st. Keefe, Bruyette & Woods lifted their target price on shares of MediaAlpha from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on MediaAlpha from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, MediaAlpha currently has an average rating of “Moderate Buy” and an average target price of $17.25.

About MediaAlpha

MediaAlpha, Inc, through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.