Insider Selling: MediaAlpha (NYSE:MAX) Director Sells $98,080.58 in Stock

MediaAlpha, Inc. (NYSE:MAX) Director Eugene Nonko sold 7,778 shares of the business’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $12.61, for a total transaction of $98,080.58. Following the sale, the director directly owned 927,583 shares of the company’s stock, valued at approximately $11,696,821.63. The trade was a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, September 2nd, Eugene Nonko sold 7,778 shares of MediaAlpha stock. The stock was sold at an average price of $12.24, for a total value of $95,202.72.
• On Wednesday, September 2nd, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The shares were sold at an average price of $12.22, for a total value of $32,590.74.
• On Monday, August 31st, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The shares were sold at an average price of $12.59, for a total value of $33,577.53.
• On Wednesday, August 26th, Eugene Nonko sold 7,778 shares of MediaAlpha stock. The stock was sold at an average price of $12.55, for a total value of $97,613.90.
• On Wednesday, August 26th, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The stock was sold at an average price of $12.56, for a total value of $33,497.52.
• On Monday, August 24th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The shares were sold at an average price of $12.99, for a total value of $106,582.95.
• On Monday, August 24th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The shares were sold at an average price of $12.99, for a total transaction of $42,633.18.
• On Wednesday, August 19th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $13.23, for a total transaction of $108,552.15.
• On Wednesday, August 19th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The stock was sold at an average price of $13.20, for a total transaction of $43,322.40.
• On Monday, August 17th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $12.78, for a total transaction of $104,859.90.

MediaAlpha Price Performance

Shares of MAX stock traded up $0.20 on Wednesday, hitting $12.51. 333,012 shares of the stock traded hands, compared to its average volume of 767,876. The firm has a market cap of $766.11 million, a price-to-earnings ratio of 7.72 and a beta of 1.16. MediaAlpha, Inc. has a 52 week low of $7.09 and a 52 week high of $14.70. The firm has a 50 day simple moving average of $13.09 and a two-hundred day simple moving average of $10.59.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.42. The company had revenue of $316.88 million during the quarter, compared to the consensus estimate of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. Sell-side analysts forecast that MediaAlpha, Inc. will post 1.13 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Canaccord Genuity Group upped their price objective on MediaAlpha from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. JPMorgan Chase & Co. initiated coverage on MediaAlpha in a research note on Monday, August 24th. They set a “neutral” rating and a $15.00 target price on the stock. The Goldman Sachs Group boosted their price target on MediaAlpha from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Wall Street Zen upgraded MediaAlpha from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 1st. Finally, Zacks Research raised shares of MediaAlpha from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, MediaAlpha has an average rating of “Moderate Buy” and an average price target of $14.29.

Institutional Trading of MediaAlpha

Hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC boosted its holdings in shares of MediaAlpha by 2.3% during the 2nd quarter. Hsbc Holdings PLC now owns 51,550 shares of the company’s stock valued at $561,000 after purchasing an additional 1,144 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of MediaAlpha by 28.0% during the second 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. Quarry LP increased its holdings in shares of MediaAlpha by 43.3% in the third quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after purchasing an additional 1,234 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of MediaAlpha by 13.4% in the second quarter. The Manufacturers Life Insurance Company now owns 12,757 shares of the company’s stock worth $140,000 after purchasing an additional 1,510 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of MediaAlpha by 5,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock worth $28,000 after buying an additional 2,124 shares in the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

MediaAlpha Company Profile

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.