MediaAlpha (NYSE:MAX) Stock: Insider Eugene Nonko Sells 6,667 Shares

Key Points

• Director Eugene Nonko sold 6,667 MediaAlpha shares at an average price of $10.15, generating $67,670.05. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding from vested equity awards, reducing his holdings by 0.78%.
• MediaAlpha shares traded at $10.61, with a market capitalization of approximately $649.8 million. The company recently exceeded quarterly earnings expectations, reporting $0.65 in EPS versus a $0.23 consensus estimate and revenue of $316.9 million.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus rating and an average price target of $13.79, although targets range from $10.50 to $17.00.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) Director Eugene Nonko sold 6,667 shares of the firm's stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $10.15, for a total value of $67,670.05. Following the transaction, the director owned 847,883 shares of the company's stock, valued at $8,606,012.45. This trade represents a 0.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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, October 14th, Eugene Nonko sold 6,667 shares of MediaAlpha stock. The shares were sold at an average price of $10.37, for a total value of $69,136.79.
• On Wednesday, October 14th, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The shares were sold at an average price of $10.41, for a total value of $11,107.47.
• On Monday, October 12th, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The shares were sold at an average price of $10.14, for a total value of $10,819.38.
• On Monday, September 21st, Eugene Nonko sold 6,667 shares of MediaAlpha stock. The shares were sold at an average price of $10.53, for a total transaction of $70,203.51.
• On Monday, September 21st, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The shares were 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 stock was 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 shares were 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 stock was sold at an average price of $12.03, for a total transaction 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 transaction of $84,512.26.

MediaAlpha Stock Performance

Shares of NYSE MAX traded up $0.14 during mid-day trading on Wednesday, hitting $10.61. 823,642 shares of the stock were exchanged, compared to its average volume of 789,932. MediaAlpha, Inc. has a twelve month low of $7.09 and a twelve month high of $14.70. The stock's fifty day simple moving average is $11.50 and its two-hundred day simple moving average is $10.89. The company has a market cap of $649.78 million, a P/E ratio of 6.55 and a beta of 1.14.

MediaAlpha (NYSE:MAX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.23 by $0.42. The business had revenue of $316.88 million for the quarter, compared to the consensus estimate of $300.87 million. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%. As a group, equities research analysts predict that MediaAlpha, Inc. will post 1.40 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MAX has been the subject of several research analyst reports. 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 objective for the company. Weiss Ratings raised MediaAlpha from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 8th. Canaccord Genuity Group increased their target price on MediaAlpha from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. The Goldman Sachs Group decreased their target price on MediaAlpha from $14.00 to $10.50 and set a "neutral" rating on the stock in a report on Wednesday. Finally, Zacks Research upgraded MediaAlpha from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 22nd. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, MediaAlpha currently has an average rating of "Moderate Buy" and an average target price of $13.79.

Hedge Funds Weigh In On MediaAlpha

A number of large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its position in shares of MediaAlpha by 94.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 620,669 shares of the company's stock worth $5,773,000 after acquiring an additional 300,871 shares in the last quarter. Bank of America Corp DE lifted its stake in MediaAlpha by 380.9% during the first quarter. Bank of America Corp DE now owns 279,704 shares of the company's stock worth $2,601,000 after purchasing an additional 221,540 shares during the last quarter. Jacobs Asset Management LLC lifted its stake in MediaAlpha by 31.1% during the first quarter. Jacobs Asset Management LLC now owns 924,443 shares of the company's stock worth $8,597,000 after purchasing an additional 219,144 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of MediaAlpha by 24.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company's stock valued at $9,876,000 after purchasing an additional 206,077 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of MediaAlpha by 288.7% in the 1st quarter. Principal Financial Group Inc. now owns 137,613 shares of the company's stock valued at $1,280,000 after purchasing an additional 102,210 shares in the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

MediaAlpha Company Profile

MediaAlpha, Inc NYSE: MAX operates a technology platform designed to help insurance companies and distributors acquire customers through digital channels. Its platform connects consumers who are shopping for insurance with providers and other distribution partners, using data, analytics and automated transactions to facilitate customer acquisition.

The company's services primarily support insurance shopping and marketing across categories such as auto, home, health and life insurance.

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.