MediaAlpha (NYSE:MAX) CRO Sells 13,000 Shares of Stock

Key Points

• MediaAlpha CRO Keith Cramer sold 13,000 shares at an average price of $11.49, totaling $149,370. After the sale, he retained 251,303 shares valued at approximately $2.89 million.
• The transaction was conducted under a pre-arranged Rule 10b5-1 plan to cover tax-withholding obligations tied to vested equity awards, reducing Cramer’s ownership by 4.92%.
• MediaAlpha recently exceeded quarterly earnings and revenue expectations, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $14.29.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) CRO Keith Cramer sold 13,000 shares of the stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $11.49, for a total transaction of $149,370.00. Following the completion of the sale, the executive owned 251,303 shares of the company's stock, valued at $2,887,471.47. This trade represents a 4.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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.

Keith Cramer also recently made the following trade(s):

• On Monday, August 17th, Keith Cramer sold 13,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.76, for a total transaction of $165,880.00.

MediaAlpha Price Performance

NYSE MAX traded down $0.44 during trading hours on Wednesday, hitting $11.01. 664,522 shares of the company's stock traded hands, compared to its average volume of 763,519. MediaAlpha, Inc. has a 52-week low of $7.09 and a 52-week high of $14.70. The company has a market capitalization of $674.66 million, a PE ratio of 6.80 and a beta of 1.16. The firm's 50-day moving average is $12.94 and its 200-day moving average is $10.88.

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, beating 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%. Equities research analysts predict that MediaAlpha, Inc. will post 1.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on MAX. Weiss Ratings upgraded MediaAlpha from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, September 1st. Royal Bank Of Canada raised their price objective on shares of MediaAlpha from $11.00 to $15.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Zacks Research raised shares of MediaAlpha from a "strong sell" rating to a "hold" rating in a research note on Monday, August 24th. Keefe, Bruyette & Woods increased their price target on shares of MediaAlpha from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Wednesday, July 8th. Finally, Capital One Financial set a $11.00 price target on shares of MediaAlpha in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, MediaAlpha currently has an average rating of "Moderate Buy" and an average price target of $14.29.

Institutional Trading of MediaAlpha

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. increased its position in shares of MediaAlpha by 9,917.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company's stock valued at $36,000 after acquiring an additional 2,777 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of MediaAlpha during the 1st quarter worth approximately $85,000. Aaron Wealth Advisors LLC purchased a new position in shares of MediaAlpha during the 1st quarter worth approximately $95,000. Glenmede Trust Co. NA acquired a new stake in MediaAlpha in the 1st quarter valued at approximately $122,000. Finally, SG Americas Securities LLC increased its holdings in MediaAlpha by 23.2% in the 1st quarter. SG Americas Securities LLC now owns 19,473 shares of the company's stock valued at $181,000 after purchasing an additional 3,668 shares during the last quarter. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

MediaAlpha Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.