Insider Selling: MediaAlpha (NYSE:MAX) Director Sells 7,778 Shares of Stock

MediaAlpha, Inc. (NYSE:MAX) Director Eugene Nonko sold 7,778 shares of MediaAlpha stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $12.61, for a total value of $98,080.58. Following the completion of the sale, the director directly owned 927,583 shares in the company, valued at approximately $11,696,821.63. The trade was a 0.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.

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

• On Wednesday, September 2nd, Eugene Nonko sold 7,778 shares of MediaAlpha stock. The shares were sold at an average price of $12.24, for a total value of $95,202.72.
• On Wednesday, September 2nd, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The shares were sold at an average price of $12.22, for a total transaction of $32,590.74.
• On Monday, August 31st, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The shares were sold at an average price of $12.59, for a total transaction of $33,577.53.
• On Wednesday, August 26th, Eugene Nonko sold 7,778 shares of MediaAlpha stock. The stock was sold at an average price of $12.55, for a total transaction of $97,613.90.
• On Wednesday, August 26th, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The shares were sold at an average price of $12.56, for a total transaction of $33,497.52.
• On Monday, August 24th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The shares were sold at an average price of $12.99, for a total transaction of $106,582.95.
• On Monday, August 24th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The shares were sold at an average price of $12.99, for a total transaction of $42,633.18.
• On Wednesday, August 19th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $13.23, for a total transaction of $108,552.15.
• On Wednesday, August 19th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The stock was sold at an average price of $13.20, for a total transaction of $43,322.40.
• On Monday, August 17th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The shares were sold at an average price of $12.78, for a total transaction of $104,859.90.

MediaAlpha Price Performance

Shares of NYSE MAX traded up $0.20 during mid-day trading on Wednesday, hitting $12.51. 333,012 shares of the company’s stock traded hands, compared to its average volume of 767,876. MediaAlpha, Inc. has a 1 year low of $7.09 and a 1 year high of $14.70. The company’s 50-day moving average is $13.09 and its two-hundred day moving average is $10.59. The company has a market capitalization of $766.11 million, a P/E ratio of 7.72 and a beta of 1.16.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.23 by $0.42. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%.The company had revenue of $316.88 million during the quarter, compared to analyst estimates of $300.87 million. Equities analysts anticipate that MediaAlpha, Inc. will post 1.13 EPS for the current fiscal year.

Institutional Trading of MediaAlpha

Several institutional investors have recently added to or reduced their stakes in MAX. Millennium Management LLC boosted its position in shares of MediaAlpha by 680.9% during the third quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock valued at $16,268,000 after buying an additional 1,246,493 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of MediaAlpha by 29.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company’s stock worth $17,714,000 after buying an additional 309,455 shares during the period. Clearline Capital LP raised its holdings in shares of MediaAlpha by 0.8% in the fourth quarter. Clearline Capital LP now owns 1,301,453 shares of the company’s stock worth $16,854,000 after buying an additional 10,604 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of MediaAlpha by 24.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company’s stock worth $9,876,000 after acquiring an additional 206,077 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of MediaAlpha by 10.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,045,400 shares of the company’s stock worth $13,538,000 after acquiring an additional 100,300 shares during the last quarter. Institutional investors own 64.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded MediaAlpha from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Canaccord Genuity Group increased their price target on MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. began coverage on MediaAlpha in a research report on Monday, August 24th. They issued a “neutral” rating and a $15.00 price target for the company. Weiss Ratings raised shares of MediaAlpha from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Finally, TD Cowen cut their price objective on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, MediaAlpha has an average rating of “Moderate Buy” and a consensus price target of $14.29.

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.