MediaAlpha (NYSE:MAX) Director Sells $1,618,040.79 in Stock

Key Points

• MediaAlpha Director Eugene Nonko sold 109,401 shares for about $1.62 million at an average price of $14.79, reducing his position by 13.94%; he retained 675,125 shares.
• The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards.
• MediaAlpha’s latest quarterly results beat expectations, reporting EPS of $0.46 versus analysts’ $0.28 estimate and revenue of $375.95 million versus forecasts of $347.93 million.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) Director Eugene Nonko sold 109,401 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $14.79, for a total transaction of $1,618,040.79. Following the completion of the transaction, the director directly owned 675,125 shares of the company's stock, valued at approximately $9,985,098.75. The trade was a 13.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 Wednesday, November 4th, Eugene Nonko sold 93,279 shares of MediaAlpha stock. The shares were sold at an average price of $15.36, for a total transaction of $1,432,765.44.
• On Wednesday, November 4th, Eugene Nonko sold 5,667 shares of MediaAlpha stock. The stock was sold at an average price of $15.25, for a total transaction of $86,421.75.
• On Tuesday, November 3rd, Eugene Nonko sold 160,185 shares of MediaAlpha stock. The stock was sold at an average price of $15.04, for a total transaction of $2,409,182.40.
• On Tuesday, November 3rd, Eugene Nonko sold 15,022 shares of MediaAlpha stock. The stock was sold at an average price of $14.93, for a total transaction of $224,278.46.
• On Monday, November 2nd, Eugene Nonko sold 78,009 shares of MediaAlpha stock. The shares were sold at an average price of $14.72, for a total transaction of $1,148,292.48.
• On Wednesday, October 28th, Eugene Nonko sold 7,273 shares of MediaAlpha stock. The shares were sold at an average price of $11.63, for a total transaction of $84,584.99.
• On Wednesday, October 28th, Eugene Nonko sold 1,940 shares of MediaAlpha stock. The stock was sold at an average price of $11.63, for a total transaction of $22,562.20.
• On Tuesday, October 27th, Eugene Nonko sold 8,283 shares of MediaAlpha stock. The stock was sold at an average price of $11.85, for a total value of $98,153.55.
• On Tuesday, October 27th, Eugene Nonko sold 3,394 shares of MediaAlpha stock. The stock was sold at an average price of $11.92, for a total value of $40,456.48.
• On Monday, October 26th, Eugene Nonko sold 7,273 shares of MediaAlpha stock. The shares were sold at an average price of $11.83, for a total value of $86,039.59.

MediaAlpha Stock Down 0.9%

Shares of NYSE MAX traded down $0.13 during mid-day trading on Wednesday, hitting $15.02. The company had a trading volume of 2,336,871 shares, compared to its average volume of 1,167,518. The company has a market capitalization of $920.00 million, a PE ratio of 8.25 and a beta of 1.12. The business's 50-day simple moving average is $11.36 and its 200 day simple moving average is $10.69. MediaAlpha, Inc. has a 1-year low of $7.09 and a 1-year high of $15.99. The company has a debt-to-equity ratio of 8.49, a current ratio of 1.32 and a quick ratio of 1.32.

MediaAlpha (NYSE:MAX - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.28 by $0.18. MediaAlpha had a negative return on equity of 994.23% and a net margin of 8.35%. The firm had revenue of $375.95 million during the quarter, compared to analysts' expectations of $347.93 million. On average, analysts predict that MediaAlpha, Inc. will post 1.47 earnings per share for the current year.

Institutional Trading of MediaAlpha

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its position in shares of 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 buying an additional 1,846 shares during the last quarter. Covestor Ltd boosted its holdings in shares of MediaAlpha by 21.2% in the 3rd quarter. Covestor Ltd now owns 5,788 shares of the company's stock valued at $56,000 after buying an additional 1,011 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of MediaAlpha in the 3rd quarter valued at $248,000. State of Wyoming purchased a new position in shares of MediaAlpha in the 3rd quarter valued at $109,000. Finally, Triad Investment Management grew 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 buying an additional 34,867 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company's stock.

MediaAlpha News Roundup

Here are the key news stories impacting MediaAlpha this week:

• Positive Sentiment: MediaAlpha’s third-quarter results beat expectations, while its earnings call highlighted broadening insurance demand. Growth in home insurance, increased spending by insurance carriers, and AI tools supporting marketplace gains could bolster the company’s outlook. Read the article
• Neutral Sentiment: Several insiders, including Director Eugene Nonko, insider Steven Yi, and CTO Kuanling Yeh, reported selling shares. Some transactions were conducted under pre-arranged Rule 10b5-1 plans, and filings cite tax withholding on vested equity awards, which may make the sales less indicative of a change in confidence. Still, the volume of sales could draw investor attention. View the SEC filing

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Weiss Ratings raised MediaAlpha from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 8th. The Goldman Sachs Group upped their target price on shares of MediaAlpha from $10.50 to $13.00 and gave the stock a "neutral" rating in a research note on Thursday, October 29th. Keefe, Bruyette & Woods 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 Wednesday, July 8th. Royal Bank Of Canada lifted their price target on shares of MediaAlpha from $15.00 to $17.00 and gave the stock an "outperform" rating in a research note on Thursday, October 29th. Finally, Wall Street Zen cut shares of MediaAlpha from a "strong-buy" rating to a "buy" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $14.71.

About MediaAlpha

MediaAlpha, Inc operates a technology platform that helps insurance carriers and distributors acquire customers through digital channels. Its marketplace connects consumers who are shopping for insurance with providers seeking qualified prospects, using data, analytics and automated systems to facilitate the matching process.

The company's platform supports customer acquisition across insurance categories, including property and casualty products such as auto and home insurance, as well as health, life and Medicare-related coverage.

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