Insider Buying: MediaAlpha, Inc. (NYSE:MAX) Director Acquires 31,000 Shares of Stock

Key Points

• Kathy P. Vrabeck, a director at MediaAlpha, Inc. (NYSE:MAX), purchased 31,000 shares at an average price of $9.60, increasing her ownership by 31.42% and bringing her total shares to 129,657.
• MediaAlpha experienced a trading increase of 4.5%, with shares reaching $10.27 and a market cap of approximately $688.33 million.
• Recent earnings report showed a profit of $0.17 per share, exceeding estimates, with revenue increasing by 41.1% year-over-year to $251.62 million.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) Director Kathy P. Vrabeck purchased 31,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were purchased at an average price of $9.60 per share, with a total value of $297,600.00. Following the completion of the acquisition, the director directly owned 129,657 shares in the company, valued at $1,244,707.20. The trade was a 31.42% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

MediaAlpha Trading Up 4.5%

NYSE MAX traded up $0.44 during trading on Wednesday, hitting $10.27. The company had a trading volume of 208,227 shares, compared to its average volume of 497,597. The company's fifty day moving average is $10.56 and its 200-day moving average is $10.08. The company has a market cap of $688.33 million, a price-to-earnings ratio of -85.85 and a beta of 1.19. MediaAlpha, Inc. has a one year low of $7.33 and a one year high of $20.91.

MediaAlpha (NYSE:MAX - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. The firm had revenue of $251.62 million for the quarter, compared to the consensus estimate of $248.80 million. MediaAlpha had a negative net margin of 0.61% and a negative return on equity of 62.53%. The company's revenue was up 41.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 EPS. As a group, equities analysts anticipate that MediaAlpha, Inc. will post 0.48 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MAX shares. Royal Bank Of Canada lowered their price target on shares of MediaAlpha from $20.00 to $18.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Keefe, Bruyette & Woods decreased their price objective on shares of MediaAlpha from $19.00 to $16.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Wall Street Zen lowered shares of MediaAlpha from a "buy" rating to a "hold" rating in a report on Saturday. Finally, JPMorgan Chase & Co. upped their price objective on shares of MediaAlpha from $10.00 to $12.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, MediaAlpha presently has a consensus rating of "Moderate Buy" and an average price target of $17.92.

Institutional Trading of MediaAlpha

A number of hedge funds and other institutional investors have recently modified their holdings of MAX. GAMMA Investing LLC grew its position in shares of MediaAlpha by 8,775.8% in the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock worth $27,000 after buying an additional 2,896 shares during the period. Covestor Ltd grew its position in shares of MediaAlpha by 44.1% in the 4th quarter. Covestor Ltd now owns 2,766 shares of the company's stock worth $31,000 after buying an additional 847 shares during the period. Virtus Fund Advisers LLC purchased a new stake in shares of MediaAlpha in the 4th quarter worth about $35,000. Quarry LP grew its position in shares of MediaAlpha by 107.1% in the 4th quarter. Quarry LP now owns 5,841 shares of the company's stock worth $66,000 after buying an additional 3,021 shares during the period. Finally, Arizona State Retirement System purchased a new stake in shares of MediaAlpha in the 1st quarter worth about $95,000. 64.39% of the stock is owned by hedge funds and other institutional investors.

MediaAlpha Company Profile

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.

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