Insider Selling: MediaAlpha, Inc. (NYSE:MAX) CRO Sells 4,753 Shares of Stock

Key Points

• MediaAlpha, Inc. CRO Keith Cramer sold 4,753 shares at an average price of $10.03 on August 11th, representing a 2.48% decrease in his overall position.
• The company's stock currently has a market capitalization of $657.43 million and reported quarterly earnings of $0.17 per share, exceeding analysts' expectations.
• Research analysts have varied ratings for MediaAlpha, with some increasing target prices, while others have downgraded their ratings, reflecting a consensus rating of "Moderate Buy."

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) CRO Keith Cramer sold 4,753 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $10.03, for a total transaction of $47,672.59. Following the sale, the executive directly owned 187,200 shares of the company's stock, valued at $1,877,616. This trade represents a 2.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, August 12th, Keith Cramer sold 20,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.73, for a total transaction of $194,600.00.
• On Friday, August 8th, Keith Cramer sold 4,916 shares of MediaAlpha stock. The shares were sold at an average price of $11.31, for a total transaction of $55,599.96.

MediaAlpha Price Performance

MAX stock traded up $0.25 during mid-day trading on Tuesday, reaching $9.81. The company had a trading volume of 680,246 shares, compared to its average volume of 465,802. The company has a market capitalization of $657.43 million, a PE ratio of -81.73 and a beta of 1.19. The firm has a 50 day moving average of $10.56 and a 200 day moving average of $10.08. MediaAlpha, Inc. has a 12 month low of $7.33 and a 12 month high of $20.91.

MediaAlpha (NYSE:MAX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. MediaAlpha had a negative net margin of 0.61% and a negative return on equity of 62.53%. The firm had revenue of $251.62 million during the quarter, compared to analysts' expectations of $248.80 million. During the same quarter in the prior year, the company earned $0.07 EPS. The company's revenue was up 41.1% compared to the same quarter last year. Analysts anticipate that MediaAlpha, Inc. will post 0.48 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada lowered their target price on shares of MediaAlpha from $20.00 to $18.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. JPMorgan Chase & Co. lifted their target price on shares of MediaAlpha from $10.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Keefe, Bruyette & Woods decreased their price target on shares of MediaAlpha from $19.00 to $16.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen cut shares of MediaAlpha from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, The Goldman Sachs Group reduced their target price on shares of MediaAlpha from $14.00 to $12.50 and set a "buy" rating on the stock in a report on Monday, April 14th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, MediaAlpha currently has a consensus rating of "Moderate Buy" and an average target price of $17.92.

Institutional Investors Weigh In On MediaAlpha

Several hedge funds have recently modified their holdings of the business. Broad Bay Capital Management LP lifted its position in shares of MediaAlpha by 23.8% in the 1st quarter. Broad Bay Capital Management LP now owns 2,747,778 shares of the company's stock worth $25,389,000 after purchasing an additional 529,093 shares during the period. Clearline Capital LP boosted its stake in MediaAlpha by 123.4% in the first quarter. Clearline Capital LP now owns 2,654,921 shares of the company's stock valued at $24,531,000 after acquiring an additional 1,466,760 shares in the last quarter. Millennium Management LLC boosted its stake in MediaAlpha by 91.0% in the fourth quarter. Millennium Management LLC now owns 781,349 shares of the company's stock valued at $8,821,000 after acquiring an additional 372,305 shares in the last quarter. Geode Capital Management LLC boosted its stake in MediaAlpha by 5.1% in the second quarter. Geode Capital Management LLC now owns 764,702 shares of the company's stock valued at $8,375,000 after acquiring an additional 36,949 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in MediaAlpha by 18.1% in the first quarter. AQR Capital Management LLC now owns 557,796 shares of the company's stock valued at $5,154,000 after acquiring an additional 85,581 shares in the last quarter. Hedge funds and other institutional investors own 64.39% of the company's stock.

About MediaAlpha

MediaAlpha, Inc, through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.

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