MediaAlpha (NYSE:MAX) Director Sells $97,613.90 in Stock

Key Points

• MediaAlpha director Eugene Nonko sold 7,778 shares for $97,613.90 at an average price of $12.55 under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards. He retained 935,361 shares, with the sale reducing his ownership by 0.82%.
• MediaAlpha shares traded at $12.61, with a market capitalization of approximately $772.5 million. The stock has ranged from $7.09 to $14.70 over the past year.
• The company reported quarterly EPS of $0.65, beating the $0.23 analyst consensus, while revenue of $316.88 million exceeded expectations of $300.87 million. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $14.29.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) Director Eugene Nonko sold 7,778 shares of the firm's stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $12.55, for a total value of $97,613.90. Following the sale, the director directly owned 935,361 shares in the company, valued at approximately $11,738,780.55. This trade represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 Wednesday, August 26th, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The shares were sold at an average price of $12.56, for a total value of $33,497.52.
• On Monday, August 24th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $12.99, for a total value of $106,582.95.
• On Monday, August 24th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The shares were sold at an average price of $12.99, for a total transaction of $42,633.18.
• On Wednesday, August 19th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $13.23, for a total transaction of $108,552.15.
• On Wednesday, August 19th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The shares were sold at an average price of $13.20, for a total transaction of $43,322.40.
• On Monday, August 17th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The shares were sold at an average price of $12.78, for a total transaction of $104,859.90.
• On Monday, August 17th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The stock was sold at an average price of $12.82, for a total transaction of $42,075.24.
• On Wednesday, August 12th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $12.78, for a total transaction of $104,859.90.
• On Wednesday, August 12th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The shares were sold at an average price of $12.89, for a total value of $42,304.98.
• On Monday, August 10th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $13.57, for a total value of $111,341.85.

MediaAlpha Price Performance

MAX stock traded down $0.24 during mid-day trading on Wednesday, reaching $12.61. 696,753 shares of the company's stock were exchanged, compared to its average volume of 778,435. The company has a market cap of $772.49 million, a price-to-earnings ratio of 7.78 and a beta of 1.11. The stock's 50 day moving average is $12.85 and its 200 day moving average is $10.45. MediaAlpha, Inc. has a 12-month low of $7.09 and a 12-month high of $14.70.

MediaAlpha (NYSE:MAX - Get Free Report) last posted 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 business had revenue of $316.88 million during the quarter, compared to analysts' expectations of $300.87 million. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%. On average, research analysts forecast that MediaAlpha, Inc. will post 0.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MediaAlpha

A number of large investors have recently modified their holdings of the business. Millennium Management LLC lifted its stake in shares of MediaAlpha by 680.9% in the third quarter. Millennium Management LLC now owns 1,429,556 shares of the company's stock worth $16,268,000 after buying an additional 1,246,493 shares in the last quarter. JPMorgan Chase & Co. grew its stake in MediaAlpha by 29.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company's stock valued at $17,714,000 after acquiring an additional 309,455 shares in the last quarter. Clearline Capital LP raised its holdings in MediaAlpha by 0.8% in the 4th quarter. Clearline Capital LP now owns 1,301,453 shares of the company's stock valued at $16,854,000 after acquiring an additional 10,604 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in MediaAlpha by 24.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company's stock worth $9,876,000 after purchasing an additional 206,077 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in MediaAlpha by 10.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,045,400 shares of the company's stock worth $13,538,000 after purchasing an additional 100,300 shares in the last quarter. Hedge funds and other institutional investors own 64.39% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Keefe, Bruyette & Woods increased their price objective on shares of MediaAlpha from $15.00 to $17.00 and gave the company an "outperform" rating in a report on Wednesday, July 8th. Weiss Ratings upgraded shares of MediaAlpha from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, July 1st. Royal Bank Of Canada raised their price target on shares of MediaAlpha from $11.00 to $15.00 and gave the company an "outperform" rating in a research note on Wednesday, August 5th. Wall Street Zen upgraded MediaAlpha from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Finally, The Goldman Sachs Group boosted their price objective on MediaAlpha from $10.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, July 30th. One equities research 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's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $14.29.

About MediaAlpha

MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company's platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.

The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.

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