MediaAlpha (NYSE:MAX) General Counsel Jeffrey Coyne Sells 5,000 Shares of Stock

MediaAlpha, Inc. (NYSE:MAX) General Counsel Jeffrey Coyne sold 5,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $8.10, for a total transaction of $40,500.00. Following the completion of the transaction, the general counsel directly owned 591,764 shares in the company, valued at approximately $4,793,288.40. The trade was a 0.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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.

MediaAlpha Stock Performance

NYSE:MAX opened at $8.26 on Wednesday. MediaAlpha, Inc. has a 52-week low of $7.09 and a 52-week high of $13.92. The stock has a fifty day moving average of $9.39 and a 200 day moving average of $10.66. The firm has a market capitalization of $515.20 million, a price-to-earnings ratio of 12.91 and a beta of 1.16.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning bought a new stake in shares of MediaAlpha in the 2nd quarter worth approximately $168,000. JPMorgan Chase & Co. grew its holdings in shares of MediaAlpha by 75.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 542,246 shares of the company’s stock valued at $5,938,000 after purchasing an additional 233,948 shares during the last quarter. Legal & General Group Plc raised its position in MediaAlpha by 29.3% in the 2nd quarter. Legal & General Group Plc now owns 36,315 shares of the company’s stock worth $398,000 after purchasing an additional 8,229 shares during the period. Rhumbline Advisers raised its position in MediaAlpha by 34.4% in the 2nd quarter. Rhumbline Advisers now owns 55,622 shares of the company’s stock worth $609,000 after purchasing an additional 14,234 shares during the period. Finally, XTX Topco Ltd bought a new stake in MediaAlpha in the second quarter worth $153,000. 64.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MAX. Wall Street Zen lowered shares of MediaAlpha from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Royal Bank Of Canada lowered their price objective on shares of MediaAlpha from $18.00 to $11.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. JPMorgan Chase & Co. upped their target price on shares of MediaAlpha from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Zacks Research cut MediaAlpha from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 25th. Finally, Weiss Ratings upgraded MediaAlpha from a “sell (d)” rating to a “hold (c-)” rating in a research report on Wednesday, February 25th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, MediaAlpha currently has an average rating of “Moderate Buy” and a consensus price target of $12.90.

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.