MediaAlpha (NYSE:MAX) CRO Keith Cramer Sells 10,000 Shares

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 10,000 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $12.83, for a total transaction of $128,300.00. Following the sale, the executive directly owned 187,169 shares of the company’s stock, valued at approximately $2,401,378.27. This trade represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

MediaAlpha Trading Down 2.0%

NYSE:MAX traded down $0.26 during mid-day trading on Wednesday, hitting $12.69. The company had a trading volume of 389,269 shares, compared to its average volume of 528,212. The business has a fifty day simple moving average of $12.20 and a 200-day simple moving average of $11.41. MediaAlpha, Inc. has a 1 year low of $7.33 and a 1 year high of $13.92. The firm has a market capitalization of $827.01 million, a price-to-earnings ratio of -422.86 and a beta of 1.21.

MediaAlpha (NYSE:MAX) last issued its 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. MediaAlpha had a negative return on equity of 71.02% and a negative net margin of 0.10%.The company had revenue of $306.51 million during the quarter, compared to the consensus estimate of $283.30 million. During the same quarter in the prior year, the business earned $0.17 earnings per share. The company’s revenue was up 18.3% compared to the same quarter last year. As a group, research analysts anticipate that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MAX. Weiss Ratings restated a “sell (d)” rating on shares of MediaAlpha in a report on Monday. Zacks Research raised shares of MediaAlpha from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 2nd. Keefe, Bruyette & Woods upped their target price on shares of MediaAlpha from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of MediaAlpha from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 price objective on shares of MediaAlpha in a 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 given a Sell rating to the company. Based on data from MarketBeat, MediaAlpha presently has an average rating of “Moderate Buy” and an average price target of $17.25.

Institutional Trading of MediaAlpha

Several institutional investors have recently added to or reduced their stakes in MAX. Quarry LP boosted its stake in MediaAlpha by 43.3% during the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock valued at $47,000 after acquiring an additional 1,234 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of MediaAlpha by 28.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock valued at $61,000 after purchasing an additional 1,213 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of MediaAlpha during the second quarter worth about $62,000. Semanteon Capital Management LP acquired a new position in MediaAlpha in the second quarter worth about $110,000. Finally, Pallas Capital Advisors LLC bought a new stake in MediaAlpha in the second quarter valued at about $111,000. 64.39% of the stock is owned by institutional investors and hedge funds.

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.