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

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 13,000 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $12.76, for a total value of $165,880.00. Following the transaction, the executive owned 264,303 shares of the company’s stock, valued at approximately $3,372,506.28. The trade was a 4.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.

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

• On Monday, June 15th, Keith Cramer sold 13,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.47, for a total transaction of $123,110.00.

MediaAlpha Price Performance

Shares of MAX stock opened at $13.15 on Wednesday. MediaAlpha, Inc. has a one year low of $7.09 and a one year high of $14.70. The company has a market capitalization of $805.81 million, a P/E ratio of 8.12 and a beta of 1.11. The company’s 50-day simple moving average is $12.52 and its two-hundred day simple moving average is $10.33.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.23 by $0.42. The firm had revenue of $316.88 million for the quarter, compared to analyst estimates of $300.87 million. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%. On average, research analysts expect that MediaAlpha, Inc. will post 0.97 EPS for the current fiscal year.

Hedge Funds Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently bought and sold shares of MAX. Caitong International Asset Management Co. Ltd lifted its holdings in 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 valued at $28,000 after acquiring an additional 2,124 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of MediaAlpha by 9,917.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock worth $36,000 after purchasing an additional 2,777 shares in the last quarter. Strs Ohio purchased a new position in MediaAlpha in the 4th quarter valued at approximately $49,000. Quarry LP boosted its holdings in MediaAlpha by 43.3% in the third quarter. Quarry LP now owns 4,087 shares of the company’s stock valued at $47,000 after purchasing an additional 1,234 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of MediaAlpha by 28.0% during 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 in the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Capital One Financial set a $11.00 target price on MediaAlpha in a research note on Tuesday, June 9th. TD Cowen reduced their price target on MediaAlpha from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their price objective on shares of MediaAlpha from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings raised MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, July 1st. Finally, Zacks Research downgraded shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, MediaAlpha presently has an average rating of “Moderate Buy” and an average price target of $13.86.

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.