Keith Cramer Sells 10,000 Shares of MediaAlpha (NYSE:MAX) Stock

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 10,000 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $12.83, for a total transaction of $128,300.00. Following the completion of the sale, the executive directly owned 187,169 shares of the company’s stock, valued at approximately $2,401,378.27. This trade represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

MediaAlpha Price Performance

NYSE MAX opened at $12.95 on Friday. The company has a fifty day moving average of $12.28 and a two-hundred day moving average of $11.43. The company has a market capitalization of $843.98 million, a PE ratio of -431.52 and a beta of 1.21. MediaAlpha, Inc. has a 1 year low of $7.33 and a 1 year high of $13.92.

MediaAlpha (NYSE:MAX) last posted its earnings results on Wednesday, October 29th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.05. The business had revenue of $306.51 million during the quarter, compared to the consensus estimate of $283.30 million. MediaAlpha had a negative return on equity of 71.02% and a negative net margin of 0.10%.The business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 EPS. On average, research analysts expect that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

Institutional Trading of MediaAlpha

Several hedge funds have recently made changes to their positions in MAX. Broad Bay Capital Management LP increased its position in shares of MediaAlpha by 23.8% in the first quarter. Broad Bay Capital Management LP now owns 2,747,778 shares of the company’s stock valued at $25,389,000 after buying an additional 529,093 shares in the last quarter. Clearline Capital LP lifted its stake in shares of MediaAlpha by 123.4% during the first quarter. Clearline Capital LP now owns 2,654,921 shares of the company’s stock valued at $24,531,000 after buying an additional 1,466,760 shares during the period. Millennium Management LLC grew its stake in MediaAlpha by 680.9% in 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. raised its holdings in MediaAlpha by 95.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company’s stock valued at $12,045,000 after acquiring an additional 516,195 shares during the last quarter. Finally, Shay Capital LLC lifted its stake in shares of MediaAlpha by 17.9% during the 3rd quarter. Shay Capital LLC now owns 790,100 shares of the company’s stock worth $8,991,000 after purchasing an additional 120,100 shares during the period. Institutional investors and hedge funds own 64.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MAX. Weiss Ratings reissued a “sell (d)” rating on shares of MediaAlpha in a report on Monday. Canaccord Genuity Group reiterated a “buy” rating and set a $15.00 price target on shares of MediaAlpha in a research note on Thursday, October 30th. Wall Street Zen upgraded shares of MediaAlpha from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 1st. JPMorgan Chase & Co. upped their target price on shares of MediaAlpha from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. Finally, Keefe, Bruyette & Woods raised their price target on MediaAlpha from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, MediaAlpha has an average rating of “Moderate Buy” and a consensus price target of $17.25.

About MediaAlpha

MediaAlpha, Inc, through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.