MediaAlpha (NYSE:MAX) General Counsel Jeffrey Coyne Sells 5,000 Shares

MediaAlpha, Inc. (NYSE:MAX) General Counsel Jeffrey Coyne sold 5,000 shares of the business’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $13.16, for a total value of $65,800.00. Following the completion of the transaction, the general counsel owned 441,783 shares in the company, valued at $5,813,864.28. This trade represents a 1.12% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

MediaAlpha Trading Down 0.7%

MediaAlpha stock opened at $13.00 on Friday. The stock has a 50 day moving average of $12.14 and a two-hundred day moving average of $11.36. MediaAlpha, Inc. has a twelve month low of $7.33 and a twelve month high of $13.92. The stock has a market capitalization of $847.04 million, a price-to-earnings ratio of -433.09 and a beta of 1.21.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.05. The firm 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 company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period last year, the company earned $0.17 earnings per share. Equities analysts predict that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MAX. Deutsche Bank AG grew its stake in MediaAlpha by 80.6% in the 1st quarter. Deutsche Bank AG now owns 180,691 shares of the company’s stock worth $1,670,000 after acquiring an additional 80,620 shares during the period. Swiss National Bank boosted its holdings in shares of MediaAlpha by 8.3% during the first quarter. Swiss National Bank now owns 69,400 shares of the company’s stock worth $641,000 after purchasing an additional 5,300 shares during the last quarter. Nuveen LLC purchased a new stake in shares of MediaAlpha in the first quarter valued at $4,675,000. Algert Global LLC grew its position in shares of MediaAlpha by 65.0% in the first quarter. Algert Global LLC now owns 225,300 shares of the company’s stock valued at $2,082,000 after purchasing an additional 88,791 shares during the period. Finally, Hsbc Holdings PLC increased its stake in MediaAlpha by 21.7% in the first quarter. Hsbc Holdings PLC now owns 50,406 shares of the company’s stock valued at $472,000 after purchasing an additional 8,981 shares during the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MAX. The Goldman Sachs Group set a $13.50 price target on shares of MediaAlpha in a report on Friday, October 31st. Zacks Research raised MediaAlpha from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. JPMorgan Chase & Co. lifted their price target on MediaAlpha from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of MediaAlpha in a research report on Monday. Finally, Canaccord Genuity Group restated a “buy” rating and set a $15.00 target price on shares of MediaAlpha in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, MediaAlpha currently has an average rating of “Moderate Buy” and an average 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.