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

Key Points

• MediaAlpha director Eugene Nonko sold 6,667 shares at an average price of $10.53, generating approximately $70,204. The sale was conducted under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards, reducing his direct ownership by 0.77% to 861,217 shares.
• Nonko has made several additional MediaAlpha sales in September, selling thousands of shares at prices ranging from approximately $11.48 to $12.24.
• MediaAlpha shares recently traded at $9.37, while analysts maintain a “Moderate Buy” consensus with an average price target of $14.29. The company’s latest quarterly results exceeded expectations, with $0.65 in EPS and $316.88 million in revenue.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) Director Eugene Nonko sold 6,667 shares of the stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $10.53, for a total value of $70,203.51. Following the completion of the sale, the director directly owned 861,217 shares of the company's stock, valued at $9,068,615.01. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 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 shares were 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 stock was 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 value 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 value of $84,512.26.
• On Thursday, September 10th, Eugene Nonko sold 1,940 shares of MediaAlpha stock. The shares were sold at an average price of $11.52, for a total value of $22,348.80.
• On Tuesday, September 8th, Eugene Nonko sold 7,273 shares of MediaAlpha stock. The shares were sold at an average price of $11.70, for a total value of $85,094.10.
• On Tuesday, September 8th, Eugene Nonko sold 1,940 shares of MediaAlpha stock. The stock was 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 transaction of $95,202.72.

MediaAlpha Stock Performance

Shares of MAX stock traded down $0.61 during mid-day trading on Wednesday, reaching $9.37. The company's stock had a trading volume of 1,249,023 shares, compared to its average volume of 648,996. 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 $574.07 million, a P/E ratio of 5.78 and a beta of 1.16. The firm's 50-day moving average is $12.63 and its two-hundred day moving average is $10.89.

MediaAlpha (NYSE:MAX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.65 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 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 anticipate that MediaAlpha, Inc. will post 1.28 EPS for the current year.

Wall Street Analysts Forecast Growth

MAX has been the subject of several analyst reports. TD Cowen cut their target price on MediaAlpha from $13.00 to $11.00 and set a "hold" rating for the company in a research report on Tuesday, June 23rd. JPMorgan Chase & Co. began coverage on MediaAlpha in a research report on Monday, August 24th. They issued a "neutral" rating and a $15.00 price target on the stock. Weiss Ratings lowered MediaAlpha from a "hold (c+)" rating to a "hold (c)" rating in a research note on Thursday, September 17th. Capital One Financial set a $11.00 price objective on MediaAlpha in a report on Tuesday, June 9th. Finally, Zacks Research upgraded shares of MediaAlpha from a "strong sell" rating to a "hold" rating in a research note on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $14.29.

Institutional Investors Weigh In On MediaAlpha

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. boosted its stake in MediaAlpha by 9,917.9% in the fourth 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. Public Employees Retirement System of Ohio acquired a new stake in shares of MediaAlpha in the first quarter valued at $85,000. Aaron Wealth Advisors LLC acquired a new stake in shares of MediaAlpha in the first quarter valued at $95,000. Glenmede Trust Co. NA bought a new position in shares of MediaAlpha in the first quarter valued at about $122,000. Finally, SG Americas Securities LLC grew its holdings in MediaAlpha by 23.2% during the 1st quarter. SG Americas Securities LLC now owns 19,473 shares of the company's stock worth $181,000 after acquiring an additional 3,668 shares during the last quarter. 64.39% of the stock is owned by institutional investors and hedge funds.

About MediaAlpha

MediaAlpha, Inc operates a technology platform that connects consumers seeking insurance and other financial products with providers seeking qualified customer leads. Its marketplace uses data, analytics and real-time bidding technology to help carriers, agencies and other distributors acquire customers across digital channels.

The company's platform primarily supports the marketing and distribution of insurance products, including property and casualty, health and life insurance. MediaAlpha provides tools for managing customer acquisition campaigns, matching consumer inquiries with relevant providers, and optimizing marketing performance across search, display and other online channels.

MediaAlpha was founded in 2014 and is headquartered in Los Angeles, California.

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