MediaAlpha (NYSE:MAX) Stock: Insider Mountains Insurance Grou White Sells 1,130,000 Shares

MediaAlpha, Inc. (NYSE:MAX) major shareholder Mountains Insurance Grou White sold 1,130,000 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $14.15, for a total transaction of $15,989,500.00. Following the completion of the transaction, the insider directly owned 11,226,223 shares in the company, valued at approximately $158,851,055.45. This represents a 9.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Mountains Insurance Grou White also recently made the following trade(s):

• On Wednesday, November 4th, Mountains Insurance Grou White sold 5,500,391 shares of MediaAlpha stock. The stock was sold at an average price of $13.90, for a total transaction of $76,455,434.90.

MediaAlpha Price Performance

MAX traded down $0.16 on Friday, reaching $14.65. 558,792 shares of the company’s stock were exchanged, compared to its average volume of 1,218,706. The stock has a market cap of $867.13 million, a PE ratio of 8.05 and a beta of 1.12. MediaAlpha, Inc. has a twelve month low of $7.09 and a twelve month high of $15.99. The stock’s fifty day moving average price is $11.68 and its 200-day moving average price is $10.83. The company has a debt-to-equity ratio of 8.49, a current ratio of 1.32 and a quick ratio of 1.32.

MediaAlpha (NYSE:MAX) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.18. MediaAlpha had a net margin of 8.35% and a negative return on equity of 994.23%. The company had revenue of $375.95 million during the quarter, compared to the consensus estimate of $347.93 million. Sell-side analysts expect that MediaAlpha, Inc. will post 1.47 EPS for the current year.

Institutional Investors Weigh In On MediaAlpha

A number of institutional investors have recently made changes to their positions in MAX. FORA Capital LLC purchased a new position in shares of MediaAlpha during the 3rd quarter worth approximately $109,000. First Trust Advisors LP acquired a new stake in MediaAlpha in the 3rd quarter valued at approximately $1,306,000. Russell Investments Group Ltd. increased its holdings in MediaAlpha by 51.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 197,860 shares of the company’s stock valued at $1,872,000 after purchasing an additional 67,500 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in MediaAlpha by 4.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,677 shares of the company’s stock valued at $452,000 after purchasing an additional 1,846 shares during the last quarter. Finally, Covestor Ltd increased its holdings in MediaAlpha by 21.2% in the 3rd quarter. Covestor Ltd now owns 5,788 shares of the company’s stock valued at $56,000 after purchasing an additional 1,011 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting MediaAlpha

Here are a few of the latest stories about MAX:

• Positive Sentiment: MediaAlpha repurchased 1.13 million Class A shares from an affiliate of White Mountains Insurance Group for about $16 million. The buyback may support shareholder value by returning capital and reducing shares outstanding. MediaAlpha Announces $16 Million Private Stock Repurchase
• Neutral Sentiment: CTO Kuanling Yeh and Director Eugene Nonko reported share sales under pre-arranged Rule 10b5-1 plans to cover tax withholding tied to vested equity awards. These sales are less indicative of a change in their outlook; both continue to own substantial stakes. SEC filing for CTO sale
• Neutral Sentiment: White Mountains’ affiliate sold 1.13 million shares, reducing its ownership by 9.15%, but retained more than 11.2 million shares. Because MediaAlpha bought the shares directly in its announced repurchase, the transaction’s potential selling-pressure effect is offset by the company’s buyback. SEC filing for major shareholder sale

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MAX shares. The Goldman Sachs Group upped their price objective on shares of MediaAlpha from $10.50 to $13.00 and gave the company a “neutral” rating in a report on Thursday, October 29th. Wall Street Zen upgraded shares of MediaAlpha from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 8th. JPMorgan Chase & Co. lifted their target price on shares of MediaAlpha from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, October 29th. Weiss Ratings raised shares of MediaAlpha from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. Finally, Canaccord Genuity Group boosted their target price on shares of MediaAlpha from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $14.71.

About MediaAlpha

MediaAlpha operates a technology platform that connects consumers shopping for insurance with insurance carriers and distributors. Its marketplace uses consumer-intent data and real-time bidding to help match shoppers with relevant insurance products and providers. The company focuses on insurance categories including auto, home, health and life. Its platform serves carriers, agents, brokers and other insurance distributors, with its business primarily centered on the U.S. market. MediaAlpha became an independent company in 2014 after operating within White Mountains Insurance Group.