Insider Selling: MediaAlpha (NYSE:MAX) Director Sells 6,700 Shares of Stock

MediaAlpha, Inc. (NYSE:MAX) Director Eugene Nonko sold 6,700 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $11.98, for a total value of $80,266.00. Following the sale, the director owned 1,556,120 shares of the company’s stock, valued at approximately $18,642,317.60. The trade was a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Wednesday, January 7th, Eugene Nonko sold 6,700 shares of MediaAlpha stock. The stock was sold at an average price of $11.66, for a total transaction of $78,122.00.
• On Wednesday, January 7th, Eugene Nonko sold 5,400 shares of MediaAlpha stock. The stock was sold at an average price of $11.67, for a total transaction of $63,018.00.
• On Monday, January 5th, Eugene Nonko sold 5,400 shares of MediaAlpha stock. The stock was sold at an average price of $11.99, for a total transaction of $64,746.00.
• On Wednesday, December 31st, Eugene Nonko sold 6,700 shares of MediaAlpha stock. The shares were sold at an average price of $12.93, for a total transaction of $86,631.00.
• On Wednesday, December 31st, Eugene Nonko sold 5,400 shares of MediaAlpha stock. The stock was sold at an average price of $12.93, for a total value of $69,822.00.
• On Monday, December 29th, Eugene Nonko sold 6,700 shares of MediaAlpha stock. The shares were sold at an average price of $12.65, for a total value of $84,755.00.
• On Monday, December 29th, Eugene Nonko sold 5,400 shares of MediaAlpha stock. The stock was sold at an average price of $12.65, for a total transaction of $68,310.00.
• On Wednesday, December 24th, Eugene Nonko sold 6,700 shares of MediaAlpha stock. The shares were sold at an average price of $12.67, for a total transaction of $84,889.00.
• On Wednesday, December 24th, Eugene Nonko sold 5,400 shares of MediaAlpha stock. The stock was sold at an average price of $12.67, for a total transaction of $68,418.00.
• On Monday, December 22nd, Eugene Nonko sold 6,700 shares of MediaAlpha stock. The stock was sold at an average price of $12.91, for a total transaction of $86,497.00.

MediaAlpha Price Performance

Shares of NYSE MAX traded down $0.22 during mid-day trading on Wednesday, hitting $11.63. 449,253 shares of the stock traded hands, compared to its average volume of 493,213. The company has a market cap of $758.12 million, a PE ratio of -387.64 and a beta of 1.21. MediaAlpha, Inc. has a twelve month low of $7.33 and a twelve month high of $13.92. The firm has a 50 day simple moving average of $12.70 and a two-hundred day simple moving average of $11.61.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $306.51 million during the quarter, compared to analysts’ expectations of $283.30 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, equities research analysts anticipate that MediaAlpha, Inc. will post 0.48 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MAX has been the subject of several analyst reports. The Goldman Sachs Group set a $13.50 price target on shares of MediaAlpha in a research note on Friday, October 31st. Weiss Ratings reissued a “sell (d)” rating on shares of MediaAlpha in a research note on Monday, December 29th. JPMorgan Chase & Co. lifted their price objective on MediaAlpha from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 target price on shares of MediaAlpha in a report on Thursday, October 30th. Finally, Wall Street Zen lowered shares of MediaAlpha from a “strong-buy” rating to a “buy” rating in a report on Saturday. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.25.

Institutional Investors Weigh In On MediaAlpha

A number of large investors have recently bought and sold shares of the stock. Millennium Management LLC raised its holdings in shares of MediaAlpha by 680.9% during the third quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock valued at $16,268,000 after purchasing an additional 1,246,493 shares during the period. JPMorgan Chase & Co. increased its position in MediaAlpha by 95.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company’s stock valued at $12,045,000 after buying an additional 516,195 shares in the last quarter. Shay Capital LLC raised its stake in MediaAlpha by 17.9% during the 3rd quarter. Shay Capital LLC now owns 790,100 shares of the company’s stock worth $8,991,000 after buying an additional 120,100 shares during the period. Geode Capital Management LLC boosted its holdings in MediaAlpha by 5.1% in the second quarter. Geode Capital Management LLC now owns 764,702 shares of the company’s stock worth $8,375,000 after acquiring an additional 36,949 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in MediaAlpha by 1,261.9% in the third quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock valued at $8,089,000 after acquiring an additional 658,625 shares during the period. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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.