Insider Selling: MediaAlpha (NYSE:MAX) Director Sells 6,667 Shares of Company Stock

Key Points

• MediaAlpha director Eugene Nonko sold 6,667 shares at an average price of $10.37, totaling $69,136.79. The sale was conducted under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards.
• Following the transaction, Nonko retained 834,549 shares valued at approximately $8.65 million. The sale reduced his direct position by 0.79%, amid a series of recent insider sales.
• MediaAlpha shares rose 1.3% to $10.61, while the company’s latest earnings exceeded expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $13.79.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) Director Eugene Nonko sold 6,667 shares of MediaAlpha stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $10.37, for a total transaction of $69,136.79. Following the sale, the director directly owned 834,549 shares in the company, valued at approximately $8,654,273.13. This trade represents a 0.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 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, October 14th, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The shares were sold at an average price of $10.41, for a total transaction of $11,107.47.
• On Monday, October 12th, Eugene Nonko sold 6,667 shares of MediaAlpha stock. The shares were sold at an average price of $10.15, for a total transaction of $67,670.05.
• On Monday, October 12th, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The stock was sold at an average price of $10.14, for a total transaction of $10,819.38.
• On Monday, September 21st, Eugene Nonko sold 6,667 shares of MediaAlpha stock. The stock was sold at an average price of $10.53, for a total transaction of $70,203.51.
• On Monday, September 21st, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The stock was sold at an average price of $10.54, for a total transaction of $11,246.18.
• On Tuesday, September 15th, Eugene Nonko sold 7,273 shares of MediaAlpha stock. The stock was sold at an average price of $11.49, for a total transaction of $83,566.77.
• On Tuesday, September 15th, Eugene Nonko sold 1,940 shares of MediaAlpha stock. The shares were sold at an average price of $11.48, for a total transaction of $22,271.20.
• On Monday, September 14th, Eugene Nonko sold 7,778 shares of MediaAlpha stock. The shares were sold at an average price of $11.96, for a total transaction of $93,024.88.
• On Monday, September 14th, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The shares were sold at an average price of $12.03, for a total transaction of $32,084.01.
• 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 transaction of $84,512.26.

MediaAlpha Stock Up 1.3%

MAX traded up $0.14 during trading on Wednesday, reaching $10.61. The company's stock had a trading volume of 823,642 shares, compared to its average volume of 789,932. The firm has a fifty day simple moving average of $11.50 and a two-hundred day simple moving average of $10.89. The company has a market cap of $649.78 million, a price-to-earnings ratio of 6.55 and a beta of 1.14. MediaAlpha, Inc. has a 1 year low of $7.09 and a 1 year high of $14.70.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.42. The company had revenue of $316.88 million for the quarter, compared to analyst estimates of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. As a group, equities analysts forecast that MediaAlpha, Inc. will post 1.40 EPS for the current fiscal year.

Institutional Investors Weigh In On MediaAlpha

A number of hedge funds have recently bought and sold shares of MAX. Triad Investment Management increased its position in shares of MediaAlpha by 10.4% in the 2nd quarter. Triad Investment Management now owns 368,731 shares of the company's stock valued at $4,635,000 after purchasing an additional 34,867 shares during the last quarter. Squarepoint Ops LLC increased its holdings in MediaAlpha by 8.7% in the second quarter. Squarepoint Ops LLC now owns 234,255 shares of the company's stock valued at $2,945,000 after buying an additional 18,714 shares during the last quarter. Corient Private Wealth LP increased its holdings in MediaAlpha by 50.7% in the second quarter. Corient Private Wealth LP now owns 23,451 shares of the company's stock valued at $295,000 after buying an additional 7,892 shares during the last quarter. AXQ Capital LP purchased a new position in MediaAlpha in the second quarter valued at $316,000. Finally, Globeflex Capital L P acquired a new stake in MediaAlpha in the second quarter valued at $702,000. Institutional investors and hedge funds own 64.39% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. JPMorgan Chase & Co. initiated coverage on MediaAlpha in a research report on Monday, August 24th. They issued a "neutral" rating and a $15.00 target price on the stock. Royal Bank Of Canada raised their price target on MediaAlpha from $11.00 to $15.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Keefe, Bruyette & Woods lifted their price objective on MediaAlpha from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Wednesday, July 8th. Zacks Research raised MediaAlpha from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 22nd. Finally, The Goldman Sachs Group cut their price objective on MediaAlpha from $14.00 to $10.50 and set a "neutral" rating on the stock in a report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $13.79.

MediaAlpha Company Profile

MediaAlpha, Inc NYSE: MAX operates a technology platform designed to help insurance companies and distributors acquire customers through digital channels. Its platform connects consumers who are shopping for insurance with providers and other distribution partners, using data, analytics and automated transactions to facilitate customer acquisition.

The company's services primarily support insurance shopping and marketing across categories such as auto, home, health and life insurance.

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