Insider Selling: MediaAlpha (NYSE:MAX) Director Sells $95,202.72 in Stock

MediaAlpha, Inc. (NYSE:MAX) Director Eugene Nonko sold 7,778 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $12.24, for a total value of $95,202.72. Following the sale, the director owned 912,027 shares in the company, valued at $11,163,210.48. This trade represents a 0.85% decrease in their position. The transaction 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.

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

• 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 value of $32,590.74.
• On Monday, August 31st, Eugene Nonko sold 7,778 shares of MediaAlpha stock. The shares were sold at an average price of $12.61, for a total value of $98,080.58.
• On Monday, August 31st, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The stock was sold at an average price of $12.59, for a total value 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 value of $97,613.90.
• On Wednesday, August 26th, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The stock was 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 shares were 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 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 stock was sold at an average price of $12.78, for a total transaction of $104,859.90.

MediaAlpha Stock Performance

MediaAlpha stock traded up $0.20 during trading on Wednesday, reaching $12.51. The company had a trading volume of 333,012 shares, compared to its average volume of 767,876. MediaAlpha, Inc. has a 12-month low of $7.09 and a 12-month high of $14.70. The stock’s 50 day moving average price is $13.09 and its two-hundred day moving average price is $10.59. The firm has a market capitalization of $766.11 million, a price-to-earnings ratio of 7.72 and a beta of 1.16.

MediaAlpha (NYSE:MAX) last issued 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. The firm had revenue of $316.88 million during the quarter, compared to analyst estimates of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. As a group, research analysts expect that MediaAlpha, Inc. will post 1.13 earnings per share for the current year.

Institutional Investors Weigh In On MediaAlpha

Several large investors have recently made changes to their positions in the business. Millennium Management LLC raised its stake in shares of MediaAlpha by 680.9% in the 3rd 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 during the period. Victory Capital Management Inc. boosted 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 worth $8,089,000 after purchasing an additional 658,625 shares during the period. Lazard Asset Management LLC purchased a new stake in MediaAlpha during the 2nd quarter worth $4,268,000. Lighthouse Investment Partners LLC increased its holdings in 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. increased its holdings in 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 purchasing an additional 309,455 shares in the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on MAX shares. Capital One Financial set a $11.00 price objective on MediaAlpha in a report on Tuesday, June 9th. Zacks Research raised MediaAlpha from a “strong sell” rating to a “hold” rating in a research report on Monday, August 24th. The Goldman Sachs Group upped their price target on MediaAlpha from $10.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, July 30th. Canaccord Genuity Group raised their price objective on MediaAlpha from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Finally, Wall Street Zen raised MediaAlpha from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, MediaAlpha has a consensus rating of “Moderate Buy” and a consensus price target of $14.29.

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.