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

MediaAlpha, Inc. (NYSE:MAX) General Counsel Jeffrey Coyne sold 5,000 shares of the 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 sale, the general counsel owned 591,764 shares of the company’s stock, valued at approximately $4,793,288.40. This trade represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.

MediaAlpha Stock Performance

Shares of NYSE:MAX traded down $0.03 during midday trading on Tuesday, reaching $8.26. The company’s stock had a trading volume of 660,287 shares, compared to its average volume of 757,399. The firm has a market capitalization of $515.20 million, a price-to-earnings ratio of 12.91 and a beta of 1.16. The firm has a 50 day moving average price of $9.43 and a two-hundred day moving average price of $10.68. MediaAlpha, Inc. has a fifty-two week low of $7.09 and a fifty-two week high of $13.92.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.21 earnings per share (EPS) 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 analyst estimates of $298.91 million. MediaAlpha had a net margin of 3.37% and a negative return on equity of 147.82%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.04) earnings per share. As a group, research analysts anticipate that MediaAlpha, Inc. will post 1.02 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On MediaAlpha

Hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in MediaAlpha by 95.2% during 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 during the last quarter. Triad Investment Management purchased a new stake in MediaAlpha in the 4th quarter valued at $3,567,000. FourThought Financial Partners LLC purchased a new stake in MediaAlpha in the 3rd quarter valued at $281,000. Dynamic Technology Lab Private Ltd raised its position in MediaAlpha by 170.5% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 29,237 shares of the company’s stock valued at $333,000 after buying an additional 18,429 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in MediaAlpha by 87.5% in the 3rd quarter. Quantbot Technologies LP now owns 38,615 shares of the company’s stock valued at $439,000 after buying an additional 18,021 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

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.