MediaAlpha (NYSE:MAX) CRO Keith Cramer Sells 13,000 Shares of Stock

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 13,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $9.47, for a total transaction of $123,110.00. Following the transaction, the executive directly owned 280,528 shares in the company, valued at approximately $2,656,600.16. The trade was a 4.43% decrease in their position. The transaction was disclosed in a document filed 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.

Keith Cramer also recently made the following trade(s):

• On Friday, May 15th, Keith Cramer sold 13,000 shares of MediaAlpha stock. The shares were sold at an average price of $8.05, for a total transaction of $104,650.00.
• On Wednesday, April 15th, Keith Cramer sold 10,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.68, for a total transaction of $96,800.00.

MediaAlpha Trading Up 4.2%

MediaAlpha stock opened at $9.84 on Tuesday. The stock has a market cap of $613.71 million, a price-to-earnings ratio of 15.38 and a beta of 1.16. The company’s 50-day moving average price is $9.15 and its two-hundred day moving average price is $10.18. MediaAlpha, Inc. has a 52 week low of $7.09 and a 52 week high of $13.92.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its holdings in shares of MediaAlpha by 5,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock worth $28,000 after buying an additional 2,124 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of MediaAlpha by 9,917.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock worth $36,000 after buying an additional 2,777 shares during the period. Quarry LP boosted its holdings in shares of MediaAlpha by 43.3% in the third quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after buying an additional 1,234 shares during the period. Strs Ohio acquired a new position in shares of MediaAlpha in the fourth quarter worth about $49,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of MediaAlpha by 28.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock worth $61,000 after buying an additional 1,213 shares during the period. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MAX. Wall Street Zen lowered shares of MediaAlpha from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 2nd. Royal Bank Of Canada reduced their price objective on shares of MediaAlpha from $18.00 to $11.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. Keefe, Bruyette & Woods reduced their price objective on shares of MediaAlpha from $16.00 to $15.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. Zacks Research lowered shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Finally, Texas Capital upgraded shares of MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $12.58.

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.