Eugene Nonko Sells 8,205 Shares of MediaAlpha (NYSE:MAX) Stock

Key Points

• Director Eugene Nonko sold 8,205 MediaAlpha shares for approximately $111,342 at an average price of $13.57, reducing his ownership by 0.81% to 1,000,574 shares. The transaction was executed under a Rule 10b5-1 plan to cover tax withholding on vested equity awards.
• MediaAlpha reported stronger-than-expected quarterly results, with EPS of $0.65 versus the $0.23 consensus and revenue of $316.88 million versus expectations of $300.87 million.
• Shares recently traded at $12.79, while analysts’ consensus rating remained “Moderate Buy” with an average price target of $13.86; institutional investors own 64.39% of the company.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) Director Eugene Nonko sold 8,205 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $13.57, for a total value of $111,341.85. Following the transaction, the director directly owned 1,000,574 shares of the company's stock, valued at approximately $13,577,789.18. This trade represents a 0.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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, August 12th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $12.78, for a total value of $104,859.90.
• On Wednesday, August 12th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The shares were sold at an average price of $12.89, for a total value of $42,304.98.
• On Monday, August 10th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The stock was sold at an average price of $13.30, for a total transaction of $43,650.60.
• On Tuesday, August 4th, Eugene Nonko sold 7,778 shares of MediaAlpha stock. The stock was sold at an average price of $12.45, for a total transaction of $96,836.10.
• On Tuesday, August 4th, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The shares were sold at an average price of $12.50, for a total transaction of $33,337.50.
• On Monday, August 3rd, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The shares were sold at an average price of $12.48, for a total transaction of $102,398.40.
• On Monday, August 3rd, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The stock was sold at an average price of $12.54, for a total value of $41,156.28.
• On Wednesday, July 29th, Eugene Nonko sold 9,524 shares of MediaAlpha stock. The shares were sold at an average price of $14.05, for a total value of $133,812.20.
• On Wednesday, July 29th, Eugene Nonko sold 4,952 shares of MediaAlpha stock. The stock was sold at an average price of $14.05, for a total value of $69,575.60.
• On Tuesday, July 28th, Eugene Nonko sold 10,843 shares of MediaAlpha stock. The stock was sold at an average price of $13.78, for a total transaction of $149,416.54.

MediaAlpha Stock Performance

NYSE MAX traded down $0.32 during trading hours on Wednesday, reaching $12.79. The company's stock had a trading volume of 423,222 shares, compared to its average volume of 791,160. The company's 50-day moving average is $12.10 and its two-hundred day moving average is $10.25. MediaAlpha, Inc. has a fifty-two week low of $7.09 and a fifty-two week high of $14.70. The stock has a market cap of $783.57 million, a PE ratio of 7.90 and a beta of 1.11.

MediaAlpha (NYSE:MAX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.42. The company had revenue of $316.88 million during the quarter, compared to analysts' expectations of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. Equities analysts expect that MediaAlpha, Inc. will post 0.97 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning purchased a new position in shares of MediaAlpha in the 2nd quarter worth about $168,000. JPMorgan Chase & Co. increased its position in MediaAlpha by 75.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 542,246 shares of the company's stock worth $5,938,000 after purchasing an additional 233,948 shares in the last quarter. Legal & General Group Plc grew its stake in MediaAlpha by 29.3% during the second quarter. Legal & General Group Plc now owns 36,315 shares of the company's stock worth $398,000 after buying an additional 8,229 shares during the period. Rhumbline Advisers increased its position in shares of MediaAlpha by 34.4% in the second quarter. Rhumbline Advisers now owns 55,622 shares of the company's stock worth $609,000 after acquiring an additional 14,234 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of MediaAlpha during the 2nd quarter valued at $153,000. Institutional investors and hedge funds own 64.39% of the company's stock.

Analysts Set New Price Targets

MAX has been the subject of a number of analyst reports. Canaccord Genuity Group boosted their price target on MediaAlpha from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. TD Cowen dropped their price objective on MediaAlpha from $13.00 to $11.00 and set a "hold" rating for the company in a research report on Tuesday, June 23rd. Wall Street Zen raised shares of MediaAlpha from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 1st. The Goldman Sachs Group upped their target price on MediaAlpha from $10.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Finally, Capital One Financial set a $11.00 price objective on shares of MediaAlpha in a report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MediaAlpha presently has a consensus rating of "Moderate Buy" and an average target price of $13.86.

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.

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