Jeffrey Coyne Sells 5,000 Shares of MediaAlpha (NYSE:MAX) Stock

MediaAlpha, Inc. (NYSE:MAX) General Counsel Jeffrey Coyne sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $7.30, for a total value of $36,500.00. Following the sale, the general counsel directly owned 436,783 shares in the company, valued at $3,188,515.90. The trade was a 1.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

MediaAlpha Trading Up 1.6%

Shares of MAX opened at $7.45 on Thursday. The firm has a market capitalization of $485.26 million, a P/E ratio of -248.12 and a beta of 1.29. The firm has a fifty day moving average price of $10.99 and a 200-day moving average price of $11.48. MediaAlpha, Inc. has a 12-month low of $7.09 and a 12-month high of $13.92.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MAX shares. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 target price on shares of MediaAlpha in a research note on Thursday, October 30th. Wall Street Zen raised MediaAlpha from a “buy” rating to a “strong-buy” rating in a research note on Sunday, January 11th. JPMorgan Chase & Co. lifted their target price on shares of MediaAlpha from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. The Goldman Sachs Group set a $13.50 target price on shares of MediaAlpha in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of MediaAlpha in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $17.25.

Institutional Trading of MediaAlpha

Several hedge funds have recently made changes to their positions in the company. CWM LLC boosted its position in shares of MediaAlpha by 37.3% during the second quarter. CWM LLC now owns 22,681 shares of the company’s stock worth $248,000 after buying an additional 6,158 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in MediaAlpha during the 2nd quarter valued at about $219,000. Y Intercept Hong Kong Ltd boosted its holdings in MediaAlpha by 519.1% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 162,747 shares of the company’s stock valued at $1,782,000 after acquiring an additional 136,459 shares during the period. Teacher Retirement System of Texas grew its position in MediaAlpha by 651.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 149,933 shares of the company’s stock valued at $1,642,000 after acquiring an additional 129,986 shares in the last quarter. Finally, Corton Capital Inc. increased its stake in MediaAlpha by 8.2% during the second quarter. Corton Capital Inc. now owns 18,865 shares of the company’s stock worth $207,000 after purchasing an additional 1,425 shares during the period. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.