MediaAlpha (NYSE:MAX) General Counsel Sells $40,500.00 in Stock

MediaAlpha, Inc. (NYSE:MAX) General Counsel Jeffrey Coyne sold 5,000 shares of MediaAlpha stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $8.10, for a total value of $40,500.00. Following the completion of the sale, the general counsel directly owned 591,764 shares in the company, valued at $4,793,288.40. This represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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.

MediaAlpha Price Performance

Shares of NYSE:MAX opened at $8.29 on Friday. The business’s 50 day moving average price is $9.33 and its 200-day moving average price is $10.60. The firm has a market capitalization of $516.94 million, a PE ratio of 12.95 and a beta of 1.16. MediaAlpha, Inc. has a 1 year low of $7.09 and a 1 year high of $13.92.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results 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 firm had revenue of $310.00 million during the quarter, compared to analyst estimates of $298.91 million. MediaAlpha had a negative return on equity of 147.82% and a net margin of 3.37%.The business’s revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) earnings per share. As a group, analysts expect that MediaAlpha, Inc. will post 1.02 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MAX. Wall Street Zen lowered MediaAlpha from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Royal Bank Of Canada lowered their price objective on MediaAlpha from $18.00 to $11.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. Weiss Ratings raised MediaAlpha from a “sell (d)” rating to a “hold (c-)” rating in a research note on Wednesday, February 25th. The Goldman Sachs Group lowered their price objective on MediaAlpha from $13.50 to $11.50 and set a “neutral” rating on the stock in a research note on Tuesday, February 24th. Finally, Zacks Research lowered MediaAlpha from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $12.90.

Institutional Investors Weigh In On MediaAlpha

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC raised its position in MediaAlpha by 680.9% in the third quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock valued at $16,268,000 after purchasing an additional 1,246,493 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of MediaAlpha by 29.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company’s stock valued at $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 4th quarter. Clearline Capital LP now owns 1,301,453 shares of the company’s stock valued at $16,854,000 after buying an additional 10,604 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in shares of MediaAlpha by 24.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company’s stock valued at $9,876,000 after buying an additional 206,077 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of MediaAlpha by 10.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,045,400 shares of the company’s stock valued at $13,538,000 after buying an additional 100,300 shares during the period. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.