MediaAlpha (NYSE:MAX) Director Sells $97,613.90 in Stock

MediaAlpha, Inc. (NYSE:MAX) Director Eugene Nonko sold 7,778 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $12.55, for a total transaction of $97,613.90. Following the sale, the director directly owned 935,361 shares in the company, valued at $11,738,780.55. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.

Eugene Nonko also recently made the following trade(s):

• On Wednesday, August 26th, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The shares were sold at an average price of $12.56, for a total transaction of $33,497.52.
• On Monday, August 24th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $12.99, for a total transaction of $106,582.95.
• On Monday, August 24th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The stock was sold at an average price of $12.99, for a total transaction of $42,633.18.
• On Wednesday, August 19th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $13.23, for a total value of $108,552.15.
• On Wednesday, August 19th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The stock was sold at an average price of $13.20, for a total value of $43,322.40.
• On Monday, August 17th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The shares were sold at an average price of $12.78, for a total value of $104,859.90.
• On Monday, August 17th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The shares were sold at an average price of $12.82, for a total value of $42,075.24.
• On Wednesday, August 12th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The shares were sold at an average price of $12.78, for a total value of $104,859.90.
• On Wednesday, August 12th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The stock was sold at an average price of $12.89, for a total value of $42,304.98.
• On Monday, August 10th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $13.57, for a total value of $111,341.85.

MediaAlpha Price Performance

MediaAlpha stock opened at $12.82 on Friday. The stock’s 50 day moving average is $13.01 and its 200 day moving average is $10.52. The firm has a market cap of $785.35 million, a P/E ratio of 7.91 and a beta of 1.11. MediaAlpha, Inc. has a one year low of $7.09 and a one year high of $14.70.

MediaAlpha (NYSE:MAX) last released its earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share 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 business had revenue of $316.88 million during the quarter, compared to the consensus estimate of $300.87 million. Equities analysts anticipate that MediaAlpha, Inc. will post 1.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MAX. Corient Private Wealth LP boosted its holdings in MediaAlpha by 50.7% in the second quarter. Corient Private Wealth LP now owns 23,451 shares of the company’s stock worth $295,000 after acquiring an additional 7,892 shares in the last quarter. California State Teachers Retirement System grew its stake in MediaAlpha by 1,101.7% in the second quarter. California State Teachers Retirement System now owns 303,452 shares of the company’s stock valued at $3,814,000 after acquiring an additional 278,200 shares during the period. AXQ Capital LP bought a new stake in shares of MediaAlpha during the second quarter valued at approximately $316,000. Globeflex Capital L P bought a new stake in shares of MediaAlpha during the second quarter valued at approximately $702,000. Finally, Glenmede Trust Co. NA acquired a new position in shares of MediaAlpha during the first quarter worth approximately $122,000. 64.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. TD Cowen dropped their target price on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, June 23rd. Zacks Research raised MediaAlpha from a “strong sell” rating to a “hold” rating in a research note on Monday, August 24th. Keefe, Bruyette & Woods raised their target price on MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. assumed coverage on shares of MediaAlpha in a research report on Monday, August 24th. They set a “neutral” rating and a $15.00 price objective for the company. Finally, Capital One Financial set a $11.00 target price on shares of MediaAlpha in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat, MediaAlpha has an average rating of “Moderate Buy” and an average target price of $14.29.

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.