Insider Selling: MediaAlpha (NYSE:MAX) Director Sells $97,613.90 in Stock

MediaAlpha, Inc. (NYSE:MAX) Director Eugene Nonko sold 7,778 shares of MediaAlpha stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $12.55, for a total value of $97,613.90. Following the transaction, the director owned 935,361 shares in the company, valued at approximately $11,738,780.55. The trade was a 0.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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.

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

• 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 value of $33,497.52.
• On Monday, August 24th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $12.99, for a total value of $106,582.95.
• On Monday, August 24th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The stock was sold at an average price of $12.99, for a total value of $42,633.18.
• On Wednesday, August 19th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The shares were 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 shares were 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.
• On Monday, August 17th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The shares were sold at an average price of $12.82, for a total value of $42,075.24.
• On Wednesday, August 12th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $12.78, for a total value of $104,859.90.
• On Wednesday, August 12th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The stock was sold at an average price of $12.89, for a total value of $42,304.98.
• On Monday, August 10th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $13.57, for a total value of $111,341.85.

MediaAlpha Stock Down 1.9%

NYSE:MAX traded down $0.24 on Wednesday, reaching $12.61. The company’s stock had a trading volume of 696,753 shares, compared to its average volume of 778,435. MediaAlpha, Inc. has a 12-month low of $7.09 and a 12-month high of $14.70. The stock has a 50 day moving average price of $12.85 and a 200 day moving average price of $10.45. The firm has a market cap of $772.49 million, a price-to-earnings ratio of 7.78 and a beta of 1.11.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.42. The business had revenue of $316.88 million during the quarter, compared to analysts’ expectations of $300.87 million. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%. Equities research analysts expect that MediaAlpha, Inc. will post 0.97 EPS for the current fiscal year.

Institutional Trading of MediaAlpha

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its position in MediaAlpha by 680.9% during the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock worth $16,268,000 after acquiring an additional 1,246,493 shares during the period. JPMorgan Chase & Co. increased 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 valued at $17,714,000 after purchasing an additional 309,455 shares during the period. Clearline Capital LP increased 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 valued at $16,854,000 after purchasing an additional 10,604 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of MediaAlpha by 24.1% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company’s stock worth $9,876,000 after purchasing an additional 206,077 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of MediaAlpha by 10.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,045,400 shares of the company’s stock worth $13,538,000 after purchasing an additional 100,300 shares during the last quarter. 64.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MAX shares. Royal Bank Of Canada increased their price objective on shares of MediaAlpha from $11.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Capital One Financial set a $11.00 price objective on MediaAlpha in a research note on Tuesday, June 9th. Zacks Research upgraded shares of MediaAlpha from a “strong sell” rating to a “hold” rating in a research note on Monday. Texas Capital raised MediaAlpha to a “strong-buy” rating in a report on Tuesday, June 9th. Finally, TD Cowen lowered their target price on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.