Insider Selling: MediaAlpha (NYSE:MAX) CRO Sells $136,680.00 in Stock

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 12,000 shares of the company’s stock in a transaction on Monday, October 19th. The shares were sold at an average price of $11.39, for a total value of $136,680.00. Following the completion of the sale, the executive owned 239,303 shares of the company’s stock, valued at approximately $2,725,661.17. This trade represents a 4.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 Tuesday, September 15th, Keith Cramer sold 13,000 shares of MediaAlpha stock. The shares were sold at an average price of $11.49, for a total value of $149,370.00.
• On Monday, August 17th, Keith Cramer sold 13,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.76, for a total value of $165,880.00.

MediaAlpha Stock Down 4.1%

NYSE:MAX opened at $11.90 on Friday. The business’s 50-day moving average price is $11.28 and its 200 day moving average price is $11.00. MediaAlpha, Inc. has a 52-week low of $7.09 and a 52-week high of $14.70. The firm has a market cap of $729.30 million, a P/E ratio of 7.35 and a beta of 1.14.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.42. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%. The company had revenue of $316.88 million during the quarter, compared to the consensus estimate of $300.87 million. Sell-side analysts expect that MediaAlpha, Inc. will post 1.44 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MAX. Arrowstreet Capital Limited Partnership grew its position in shares of 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 purchasing an additional 206,077 shares during the last quarter. Jacobs Asset Management LLC increased its stake in shares of MediaAlpha by 31.1% in the first quarter. Jacobs Asset Management LLC now owns 924,443 shares of the company’s stock worth $8,597,000 after purchasing an additional 219,144 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of MediaAlpha by 94.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 620,669 shares of the company’s stock worth $5,773,000 after purchasing an additional 300,871 shares during the last quarter. Triad Investment Management lifted its position in shares of MediaAlpha by 10.4% during the 2nd quarter. Triad Investment Management now owns 368,731 shares of the company’s stock worth $4,635,000 after purchasing an additional 34,867 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in MediaAlpha by 380.9% during the 1st quarter. Bank of America Corp DE now owns 279,704 shares of the company’s stock valued at $2,601,000 after purchasing an additional 221,540 shares during the period. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on MAX shares. Canaccord Genuity Group lifted their target price on shares of MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Wall Street Zen upgraded shares of MediaAlpha from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Keefe, Bruyette & Woods increased their price target on shares of MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. Royal Bank Of Canada raised their price target on shares of MediaAlpha from $11.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Finally, Zacks Research lowered shares of MediaAlpha from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. One research 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.79.

About MediaAlpha

MediaAlpha, Inc operates a technology platform that helps insurance carriers and distributors acquire customers through digital channels. Its marketplace connects consumers who are shopping for insurance with providers seeking qualified prospects, using data, analytics and automated systems to facilitate the matching process.

The company’s platform supports customer acquisition across insurance categories, including property and casualty products such as auto and home insurance, as well as health, life and Medicare-related coverage.