Insider Selling: MediaAlpha (NYSE:MAX) CRO Sells $165,880.00 in Stock

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 13,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $12.76, for a total value of $165,880.00. Following the sale, the executive owned 264,303 shares in the company, valued at approximately $3,372,506.28. The trade was a 4.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 value of $123,110.00.

MediaAlpha Stock Up 2.4%

Shares of NYSE:MAX opened at $13.51 on Thursday. MediaAlpha, Inc. has a 52-week low of $7.09 and a 52-week high of $14.70. The company has a 50 day moving average of $12.59 and a two-hundred day moving average of $10.35. The company has a market capitalization of $827.62 million, a price-to-earnings ratio of 8.34 and a beta of 1.11.

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

Institutional Investors Weigh In On MediaAlpha

Several hedge funds and other institutional investors have recently modified their holdings of MAX. Millennium Management LLC raised its stake in shares of MediaAlpha by 680.9% in the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock valued at $16,268,000 after purchasing an additional 1,246,493 shares in the last quarter. JPMorgan Chase & Co. grew its stake in MediaAlpha by 29.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company’s stock worth $17,714,000 after purchasing an additional 309,455 shares in the last quarter. Clearline Capital LP grew its stake in MediaAlpha by 0.8% in the fourth quarter. Clearline Capital LP now owns 1,301,453 shares of the company’s stock worth $16,854,000 after purchasing an additional 10,604 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in MediaAlpha by 24.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company’s stock valued at $9,876,000 after buying an additional 206,077 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in MediaAlpha by 10.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,045,400 shares of the company’s stock valued at $13,538,000 after buying an additional 100,300 shares during the last quarter. Institutional investors own 64.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MAX. The Goldman Sachs Group upped their price objective on shares of MediaAlpha from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Keefe, Bruyette & Woods boosted their price target on MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. TD Cowen reduced their price target on MediaAlpha from $13.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, June 23rd. Wall Street Zen upgraded MediaAlpha from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Finally, Capital One Financial set a $11.00 price objective on MediaAlpha in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, MediaAlpha has an average rating of “Moderate Buy” and a consensus target price 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.