MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer Sells 4,753 Shares

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 dated Monday, August 11th. The shares were sold at an average price of $10.03, for a total value of $47,672.59. Following the transaction, the executive owned 187,200 shares of the company's stock, valued at $1,877,616. This trade represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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 value 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 value of $55,599.96.

MediaAlpha Price Performance

Shares of NYSE:MAX traded down $0.16 during trading on Friday, reaching $9.98. The company had a trading volume of 539,835 shares, compared to its average volume of 514,615. The firm has a market capitalization of $668.96 million, a price-to-earnings ratio of -83.16 and a beta of 1.19. The stock's fifty day moving average price is $10.55 and its 200 day moving average price is $10.06. MediaAlpha, Inc. has a fifty-two week low of $7.33 and a fifty-two week high of $20.91.

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

Institutional Trading of MediaAlpha

Institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of MediaAlpha by 54.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 42,298 shares of the company's stock worth $381,000 after acquiring an additional 14,871 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of MediaAlpha by 8,775.8% in the first quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock worth $27,000 after buying an additional 2,896 shares during the period. Virtus Investment Advisers Inc. purchased a new stake in shares of MediaAlpha in the fourth quarter worth about $172,000. Millennium Management LLC boosted its holdings 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 purchasing an additional 372,305 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in MediaAlpha by 52.8% during the fourth quarter. JPMorgan Chase & Co. now owns 122,386 shares of the company's stock valued at $1,382,000 after buying an additional 42,315 shares in the last quarter. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MAX. Wall Street Zen cut MediaAlpha from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Royal Bank Of Canada cut their target price on MediaAlpha from $20.00 to $18.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Keefe, Bruyette & Woods cut their target price on MediaAlpha from $19.00 to $16.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised their target price on MediaAlpha from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, MediaAlpha currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.92.

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.