Eugene Nonko Sells 7,273 Shares of MediaAlpha (NYSE:MAX) Stock

Key Points

• MediaAlpha director Eugene Nonko sold 7,273 shares at an average price of $11.70, generating $85,094.10. The transaction was conducted under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards.
• Following the sale, Nonko retained 904,754 shares valued at approximately $10.6 million; the sale reduced his ownership by 0.80%. He has also reported several additional MediaAlpha share sales in recent weeks.
• MediaAlpha recently exceeded quarterly expectations, reporting $0.65 in EPS versus the $0.23 consensus and revenue of $316.88 million versus $300.87 million expected. Analysts maintain a “Moderate Buy” consensus with an average price target of $14.29, compared with a recent share price near $11.73.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) Director Eugene Nonko sold 7,273 shares of the firm's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $11.70, for a total value of $85,094.10. Following the completion of the sale, the director directly owned 904,754 shares of the company's stock, valued at $10,585,621.80. This represents a 0.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Thursday, September 10th, Eugene Nonko sold 7,273 shares of MediaAlpha stock. The stock was sold at an average price of $11.62, for a total value of $84,512.26.
• On Thursday, September 10th, Eugene Nonko sold 1,940 shares of MediaAlpha stock. The stock was sold at an average price of $11.52, for a total transaction of $22,348.80.
• On Tuesday, September 8th, Eugene Nonko sold 1,940 shares of MediaAlpha stock. The shares were sold at an average price of $11.70, for a total transaction of $22,698.00.
• On Wednesday, September 2nd, Eugene Nonko sold 7,778 shares of MediaAlpha stock. The shares were 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 7,778 shares of MediaAlpha stock. The stock was sold at an average price of $12.61, for a total transaction of $98,080.58.
• 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 transaction of $97,613.90.
• On Wednesday, August 26th, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The shares were sold at an average price of $12.56, for a total transaction of $33,497.52.
• On Monday, August 24th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $12.99, for a total transaction of $106,582.95.

MediaAlpha Price Performance

NYSE MAX traded up $0.15 during trading hours on Thursday, reaching $11.73. 412,574 shares of the stock traded hands, compared to its average volume of 523,431. The stock has a 50 day simple moving average of $13.11 and a two-hundred day simple moving average of $10.79. MediaAlpha, Inc. has a 1 year low of $7.09 and a 1 year high of $14.70. The company has a market cap of $718.40 million, a price-to-earnings ratio of 7.24 and a beta of 1.16.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $316.88 million during the quarter, compared to analysts' expectations of $300.87 million. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%. On average, sell-side analysts forecast that MediaAlpha, Inc. will post 1.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd grew its position in shares of MediaAlpha by 5,900.0% in the 4th 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 during the last quarter. Rockefeller Capital Management L.P. raised its holdings in MediaAlpha by 9,917.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company's stock worth $36,000 after purchasing an additional 2,777 shares in the last quarter. Quarry LP lifted its position in shares of MediaAlpha by 43.3% in the 3rd 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 period. Strs Ohio purchased a new stake in shares of MediaAlpha in the 4th quarter worth about $49,000. Finally, Tower Research Capital LLC TRC increased 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 buying an additional 1,213 shares during the period. Hedge funds and other institutional investors own 64.39% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MAX shares. Royal Bank Of Canada boosted their price objective on shares of MediaAlpha from $11.00 to $15.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Zacks Research upgraded shares of MediaAlpha from a "strong sell" rating to a "hold" rating in a research report on Monday, August 24th. Capital One Financial set a $11.00 price target on shares of MediaAlpha in a research report on Tuesday, June 9th. Texas Capital upgraded MediaAlpha to a "strong-buy" rating in a report on Tuesday, June 9th. Finally, Weiss Ratings upgraded MediaAlpha from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, September 1st. One investment 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 data from MarketBeat, MediaAlpha presently has a consensus rating of "Moderate Buy" and an average price target of $14.29.

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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