Insider Selling: MediaAlpha (NYSE:MAX) Major Shareholder Sells $15,989,500.00 in Stock

Key Points

• Mountains Insurance Group White sold 1.13 million MediaAlpha shares on November 11 at an average of $14.15, for about $15.99 million. The sale reduced its stake by 9.15%, leaving it with 11.23 million shares.
• The shareholder had also sold 5.5 million shares on November 4 for approximately $76.46 million.
• MediaAlpha reported quarterly EPS of $0.46 and revenue of $375.95 million, topping analyst estimates of $0.28 and $347.93 million, respectively. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $14.71.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) major shareholder Mountains Insurance Grou White sold 1,130,000 shares of the company's stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $14.15, for a total value of $15,989,500.00. Following the completion of the transaction, the insider directly owned 11,226,223 shares of the company's stock, valued at $158,851,055.45. The trade was a 9.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

Mountains Insurance Grou White also recently made the following trade(s):

• On Wednesday, November 4th, Mountains Insurance Grou White sold 5,500,391 shares of MediaAlpha stock. The stock was sold at an average price of $13.90, for a total transaction of $76,455,434.90.

MediaAlpha Price Performance

NYSE:MAX traded down $0.09 during trading hours on Friday, hitting $14.72. 54,715 shares of the stock were exchanged, compared to its average volume of 828,850. The company has a market cap of $871.40 million, a P/E ratio of 8.09 and a beta of 1.12. The firm's fifty day moving average price is $11.63 and its 200 day moving average price is $10.81. MediaAlpha, Inc. has a 52-week low of $7.09 and a 52-week high of $15.99. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 8.49.

MediaAlpha (NYSE:MAX - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.18. The firm had revenue of $375.95 million during the quarter, compared to analyst estimates of $347.93 million. MediaAlpha had a net margin of 8.35% and a negative return on equity of 994.23%. As a group, equities research analysts anticipate that MediaAlpha, Inc. will post 1.47 EPS for the current fiscal year.

Institutional Trading of MediaAlpha

Institutional investors and hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP bought a new stake in MediaAlpha in the 3rd quarter valued at $1,306,000. Russell Investments Group Ltd. grew its stake in shares of MediaAlpha by 51.8% during the third quarter. Russell Investments Group Ltd. now owns 197,860 shares of the company's stock worth $1,872,000 after purchasing an additional 67,500 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in MediaAlpha by 4.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 46,677 shares of the company's stock worth $452,000 after acquiring an additional 1,846 shares during the last quarter. Covestor Ltd increased its holdings in shares of MediaAlpha by 21.2% in the third quarter. Covestor Ltd now owns 5,788 shares of the company's stock worth $56,000 after acquiring an additional 1,011 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in MediaAlpha in the 3rd quarter worth $248,000. Institutional investors and hedge funds own 64.39% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MAX shares. JPMorgan Chase & Co. boosted their price objective on MediaAlpha from $15.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, October 29th. The Goldman Sachs Group raised their price objective on shares of MediaAlpha from $10.50 to $13.00 and gave the company a "neutral" rating in a research report on Thursday, October 29th. Wall Street Zen upgraded shares of MediaAlpha from a "buy" rating to a "strong-buy" rating in a research note on Sunday, November 8th. Royal Bank Of Canada raised their target price on shares of MediaAlpha from $15.00 to $17.00 and gave the company an "outperform" rating in a report on Thursday, October 29th. Finally, Canaccord Genuity Group upped their price objective on shares of MediaAlpha from $17.00 to $18.00 and gave the company a "buy" rating in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $14.71.

About MediaAlpha

MediaAlpha operates a technology platform that connects consumers shopping for insurance with insurance carriers and distributors. Its marketplace uses consumer-intent data and real-time bidding to help match shoppers with relevant insurance products and providers. The company focuses on insurance categories including auto, home, health and life. Its platform serves carriers, agents, brokers and other insurance distributors, with its business primarily centered on the U.S. market. MediaAlpha became an independent company in 2014 after operating within White Mountains Insurance Group.

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