MediaAlpha (NYSE:MAX) CRO Keith Cramer Sells 13,000 Shares

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 13,000 shares of the business’s stock in a transaction dated 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 sale, the executive directly owned 280,528 shares of the company’s stock, valued at $2,656,600.16. This represents a 4.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 Trading Up 4.2%

NYSE MAX traded up $0.39 during trading on Monday, reaching $9.84. The company’s stock had a trading volume of 797,196 shares, compared to its average volume of 724,048. The firm has a market capitalization of $613.71 million, a price-to-earnings ratio of 15.38 and a beta of 1.16. MediaAlpha, Inc. has a 12 month low of $7.09 and a 12 month high of $13.92. The firm has a 50 day moving average price of $9.14 and a 200 day moving average price of $10.20.

MediaAlpha (NYSE:MAX) last issued its quarterly 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). MediaAlpha had a negative return on equity of 147.82% and a net margin of 3.37%.The firm had revenue of $310.00 million for the quarter, compared to the consensus estimate of $298.91 million. During the same period last year, the company posted ($0.04) EPS. The business’s revenue was up 17.3% on a year-over-year basis. On average, equities analysts forecast that MediaAlpha, Inc. will post 1.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MAX has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. The Goldman Sachs Group cut their price target on shares of MediaAlpha from $13.50 to $11.50 and set a “neutral” rating for the company in a report on Tuesday, February 24th. Wall Street Zen downgraded shares of MediaAlpha from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Zacks Research downgraded shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Finally, Keefe, Bruyette & Woods cut their price target on shares of MediaAlpha from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.58.

Hedge Funds Weigh In On MediaAlpha

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd increased its position in MediaAlpha by 5,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock worth $28,000 after purchasing an additional 2,124 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in MediaAlpha by 9,917.9% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock worth $36,000 after purchasing an additional 2,777 shares in the last quarter. Strs Ohio acquired a new position in MediaAlpha during the 4th quarter worth approximately $49,000. Quarry LP increased its position in MediaAlpha by 43.3% during the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after purchasing an additional 1,234 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in MediaAlpha by 28.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock worth $61,000 after purchasing an additional 1,213 shares in the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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.