Insider Selling: MediaAlpha (NYSE:MAX) Director Sells $131,621.68 in Stock

MediaAlpha, Inc. (NYSE:MAX) Director Eugene Nonko sold 9,524 shares of the firm’s stock in a transaction on Monday, July 20th. The shares were sold at an average price of $13.82, for a total transaction of $131,621.68. Following the transaction, the director directly owned 1,080,160 shares of the company’s stock, valued at $14,927,811.20. The trade was a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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.

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

• On Wednesday, July 8th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The shares were sold at an average price of $13.61, for a total transaction of $111,670.05.
• On Wednesday, July 8th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The shares were sold at an average price of $13.78, for a total value of $45,225.96.
• On Tuesday, July 7th, Eugene Nonko sold 9,524 shares of MediaAlpha stock. The stock was sold at an average price of $14.06, for a total value of $133,907.44.
• On Tuesday, July 7th, Eugene Nonko sold 4,952 shares of MediaAlpha stock. The shares were sold at an average price of $14.08, for a total value of $69,724.16.
• On Monday, July 6th, Eugene Nonko sold 25,352 shares of MediaAlpha stock. The stock was sold at an average price of $13.86, for a total value of $351,378.72.
• On Monday, July 6th, Eugene Nonko sold 24,992 shares of MediaAlpha stock. The shares were sold at an average price of $13.91, for a total value of $347,638.72.
• On Wednesday, July 1st, Eugene Nonko sold 9,059 shares of MediaAlpha stock. The shares were sold at an average price of $12.80, for a total transaction of $115,955.20.
• On Wednesday, July 1st, Eugene Nonko sold 4,512 shares of MediaAlpha stock. The shares were sold at an average price of $12.77, for a total transaction of $57,618.24.
• On Monday, June 29th, Eugene Nonko sold 7,778 shares of MediaAlpha stock. The shares were sold at an average price of $11.93, for a total transaction of $92,791.54.
• On Monday, June 29th, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The stock was sold at an average price of $11.81, for a total transaction of $31,497.27.

MediaAlpha Price Performance

Shares of NYSE MAX traded up $0.34 during mid-day trading on Tuesday, hitting $13.91. 119,402 shares of the company’s stock traded hands, compared to its average volume of 771,268. The company’s 50-day moving average is $11.15 and its two-hundred day moving average is $10.14. The company has a market capitalization of $867.29 million, a P/E ratio of 21.73 and a beta of 1.08. MediaAlpha, Inc. has a 1 year low of $7.09 and a 1 year high of $14.70.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). MediaAlpha had a negative return on equity of 147.82% and a net margin of 3.37%.The company had revenue of $310.00 million during the quarter, compared to analysts’ expectations of $298.91 million. During the same quarter in the prior year, the business posted ($0.04) EPS. The company’s revenue was up 17.3% on a year-over-year basis. Equities analysts anticipate that MediaAlpha, Inc. will post 0.97 EPS for the current fiscal year.

Institutional Investors Weigh In On MediaAlpha

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Millennium Management LLC raised its holdings in shares of 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 acquiring an additional 1,246,493 shares in the last quarter. Victory Capital Management Inc. increased its position in MediaAlpha by 1,261.9% during the 3rd quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock valued at $8,089,000 after purchasing an additional 658,625 shares during the period. Lazard Asset Management LLC purchased a new position in MediaAlpha during the 2nd quarter valued at about $4,268,000. Lighthouse Investment Partners LLC raised its holdings in shares of MediaAlpha by 831.7% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 353,930 shares of the company’s stock valued at $4,028,000 after purchasing an additional 315,943 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position 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 worth $17,714,000 after purchasing an additional 309,455 shares during the period. 64.39% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wall Street Zen raised shares of MediaAlpha from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Zacks Research lowered shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Capital One Financial set a $11.00 price objective on shares of MediaAlpha in a research report on Tuesday, June 9th. JPMorgan Chase & Co. boosted their target price on MediaAlpha from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods raised their price target on MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.64.

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.