MediaAlpha (NYSE:MAX) Director Sells 93,279 Shares of Stock

MediaAlpha, Inc. (NYSE:MAX) Director Eugene Nonko sold 93,279 shares of the business’s stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $15.36, for a total transaction of $1,432,765.44. Following the completion of the transaction, the director owned 458,428 shares in the company, valued at approximately $7,041,454.08. The trade was a 16.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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, November 4th, Eugene Nonko sold 5,667 shares of MediaAlpha stock. The shares were sold at an average price of $15.25, for a total transaction of $86,421.75.
• On Tuesday, November 3rd, Eugene Nonko sold 160,185 shares of MediaAlpha stock. The stock was sold at an average price of $15.04, for a total value of $2,409,182.40.
• On Tuesday, November 3rd, Eugene Nonko sold 15,022 shares of MediaAlpha stock. The stock was sold at an average price of $14.93, for a total value of $224,278.46.
• On Monday, November 2nd, Eugene Nonko sold 78,009 shares of MediaAlpha stock. The stock was sold at an average price of $14.72, for a total value of $1,148,292.48.
• On Monday, November 2nd, Eugene Nonko sold 109,401 shares of MediaAlpha stock. The stock was sold at an average price of $14.79, for a total value of $1,618,040.79.
• On Wednesday, October 28th, Eugene Nonko sold 7,273 shares of MediaAlpha stock. The shares were sold at an average price of $11.63, for a total value of $84,584.99.
• On Wednesday, October 28th, Eugene Nonko sold 1,940 shares of MediaAlpha stock. The shares were sold at an average price of $11.63, for a total value of $22,562.20.
• On Tuesday, October 27th, Eugene Nonko sold 8,283 shares of MediaAlpha stock. The shares were sold at an average price of $11.85, for a total value of $98,153.55.
• On Tuesday, October 27th, Eugene Nonko sold 3,394 shares of MediaAlpha stock. The stock was sold at an average price of $11.92, for a total value of $40,456.48.
• On Monday, October 26th, Eugene Nonko sold 7,273 shares of MediaAlpha stock. The stock was sold at an average price of $11.83, for a total value of $86,039.59.

MediaAlpha Trading Down 0.9%

MAX stock traded down $0.13 during mid-day trading on Wednesday, reaching $15.02. The company’s stock had a trading volume of 2,336,871 shares, compared to its average volume of 1,167,518. MediaAlpha, Inc. has a 12 month low of $7.09 and a 12 month high of $15.99. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 8.49. The business’s 50 day moving average price is $11.36 and its 200 day moving average price is $10.69. The company has a market cap of $920.00 million, a price-to-earnings ratio of 8.25 and a beta of 1.12.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.18. The firm had revenue of $375.95 million for the quarter, compared to analysts’ expectations of $347.93 million. MediaAlpha had a negative return on equity of 994.23% and a net margin of 8.35%. On average, equities research analysts predict that MediaAlpha, Inc. will post 1.47 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MAX. Covestor Ltd boosted its stake in MediaAlpha by 21.2% during the 3rd quarter. Covestor Ltd now owns 5,788 shares of the company’s stock valued at $56,000 after purchasing an additional 1,011 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in MediaAlpha by 4.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,677 shares of the company’s stock worth $452,000 after purchasing an additional 1,846 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of MediaAlpha by 9,917.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock worth $36,000 after purchasing an additional 2,777 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of MediaAlpha by 23.2% in the first quarter. SG Americas Securities LLC now owns 19,473 shares of the company’s stock worth $181,000 after purchasing an additional 3,668 shares during the last quarter. Finally, State of Wyoming raised its stake in shares of MediaAlpha by 10.7% in the first quarter. State of Wyoming now owns 43,001 shares of the company’s stock worth $400,000 after purchasing an additional 4,169 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting MediaAlpha

Here are the key news stories impacting MediaAlpha this week:

• Positive Sentiment: MediaAlpha’s third-quarter results beat expectations, while its earnings call highlighted broadening insurance demand. Growth in home insurance, increased spending by insurance carriers, and AI tools supporting marketplace gains could bolster the company’s outlook. Read the article
• Neutral Sentiment: Several insiders, including Director Eugene Nonko, insider Steven Yi, and CTO Kuanling Yeh, reported selling shares. Some transactions were conducted under pre-arranged Rule 10b5-1 plans, and filings cite tax withholding on vested equity awards, which may make the sales less indicative of a change in confidence. Still, the volume of sales could draw investor attention. View the SEC filing

Analysts Set New Price Targets

Several brokerages recently issued reports on MAX. The Goldman Sachs Group increased their target price on shares of MediaAlpha from $10.50 to $13.00 and gave the stock a “neutral” rating in a research note on Thursday, October 29th. Royal Bank Of Canada increased their price objective on shares of MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Thursday, October 29th. Keefe, Bruyette & Woods raised their target price on MediaAlpha from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. raised their target price on MediaAlpha from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, October 29th. Finally, Wall Street Zen downgraded MediaAlpha from a “strong-buy” rating to a “buy” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.71.

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.