Insider Selling: MediaAlpha (NYSE:MAX) Director Sells $108,962.40 in Stock

Key Points

• Director Eugene Nonko sold 8,205 MediaAlpha shares for $108,962 at an average price of $13.28, reducing his position by 0.77% while retaining more than 1.05 million shares. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards.
• MediaAlpha reported strong second-quarter results, with EPS of $0.65 versus the $0.21 consensus and revenue of $316.9 million, up 26% year over year and above expectations.
• MAX traded near $13.85, close to its 52-week high, while analysts maintained a mixed but generally constructive outlook: the stock has a “Moderate Buy” consensus rating, though the average price target of $12.64 is below the recent share price.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) Director Eugene Nonko sold 8,205 shares of the company's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $13.28, for a total transaction of $108,962.40. Following the completion of the sale, the director owned 1,052,907 shares of the company's stock, valued at approximately $13,982,604.96. This trade represents a 0.77% decrease in their position. The transaction was disclosed in a legal filing 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, July 29th, Eugene Nonko sold 9,524 shares of MediaAlpha stock. The stock was sold at an average price of $14.05, for a total transaction of $133,812.20.
• On Wednesday, July 29th, Eugene Nonko sold 4,952 shares of MediaAlpha stock. The shares were sold at an average price of $14.05, for a total transaction of $69,575.60.
• On Tuesday, July 28th, Eugene Nonko sold 10,843 shares of MediaAlpha stock. The stock was sold at an average price of $13.78, for a total transaction of $149,416.54.
• On Tuesday, July 28th, Eugene Nonko sold 6,622 shares of MediaAlpha stock. The shares were sold at an average price of $13.86, for a total value of $91,780.92.
• On Monday, July 27th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The shares were sold at an average price of $13.28, for a total value of $43,584.96.
• On Monday, July 20th, Eugene Nonko sold 4,952 shares of MediaAlpha stock. The shares were sold at an average price of $13.87, for a total value of $68,684.24.
• On Monday, July 20th, Eugene Nonko sold 9,524 shares of MediaAlpha stock. The stock was sold at an average price of $13.82, for a total value of $131,621.68.
• On Wednesday, July 8th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The shares were sold at an average price of $13.61, for a total transaction of $111,670.05.
• On Wednesday, July 8th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The shares were sold at an average price of $13.78, for a total transaction of $45,225.96.
• On Tuesday, July 7th, Eugene Nonko sold 9,524 shares of MediaAlpha stock. The shares were sold at an average price of $14.06, for a total transaction of $133,907.44.

MediaAlpha Stock Performance

MediaAlpha stock traded up $0.06 during trading hours on Wednesday, reaching $13.85. 1,266,402 shares of the stock were exchanged, compared to its average volume of 778,728. The stock has a market cap of $863.24 million, a P/E ratio of 21.63 and a beta of 1.08. MediaAlpha, Inc. has a 52-week low of $7.09 and a 52-week high of $14.70. The firm's 50 day moving average is $11.26 and its 200 day moving average is $10.15.

MediaAlpha (NYSE:MAX - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.21 by $0.44. The company had revenue of $316.88 million during the quarter, compared to analysts' expectations of $300.87 million. MediaAlpha had a net margin of 3.37% and a negative return on equity of 147.82%. Equities research analysts expect that MediaAlpha, Inc. will post 0.97 EPS for the current fiscal year.

Key Headlines Impacting MediaAlpha

Here are the key news stories impacting MediaAlpha this week:

• Positive Sentiment: MediaAlpha reported second-quarter EPS of $0.65, far above the $0.21 analyst consensus, while revenue reached a record $316.9 million, exceeding expectations of $300.9 million. Revenue increased 26% year over year, net income was $41.8 million, and adjusted EBITDA totaled $29.3 million. MediaAlpha Announces Second Quarter 2026 Financial Results
• Positive Sentiment: Third-quarter revenue guidance of $330 million to $355 million brackets and exceeds the $332.4 million consensus at its midpoint, suggesting continued demand across the company’s insurance marketplace. EPS guidance was not provided in the supplied update.
• Positive Sentiment: The company repurchased more than $41 million of stock during the first half of 2026, potentially supporting per-share value and signaling management’s confidence in the business.
• Neutral Sentiment: Analyst views remain mixed but generally constructive. MediaAlpha carries a “Moderate Buy” consensus rating, although the previously reported average price target of $12.64 was below the recent trading range.
• Negative Sentiment: Director Eugene Nonko sold shares in multiple transactions, including 4,952 shares for $68,684 and 9,524 shares for $131,622. However, the sales were conducted under a pre-arranged Rule 10b5-1 plan to cover tax withholding, and his remaining ownership remains substantial, reducing the negative signal.

Analyst Ratings Changes

Several equities analysts have issued reports on MAX shares. Texas Capital upgraded MediaAlpha to a "strong-buy" rating in a research report on Tuesday, June 9th. TD Cowen decreased their price target on MediaAlpha from $13.00 to $11.00 and set a "hold" rating on the stock in a research note on Tuesday, June 23rd. Zacks Research lowered MediaAlpha from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 19th. Wall Street Zen upgraded MediaAlpha from a "hold" rating to a "buy" rating in a research report on Sunday, July 12th. Finally, Capital One Financial set a $11.00 target price on shares of MediaAlpha in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, MediaAlpha has an average rating of "Moderate Buy" and a consensus target price of $12.64.

Institutional Investors Weigh In On MediaAlpha

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC grew its holdings in shares of MediaAlpha by 680.9% in the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company's stock worth $16,268,000 after acquiring an additional 1,246,493 shares during the period. JPMorgan Chase & Co. raised its holdings in MediaAlpha by 29.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company's stock worth $17,714,000 after purchasing an additional 309,455 shares during the last quarter. Clearline Capital LP raised its holdings in MediaAlpha by 0.8% during the fourth quarter. Clearline Capital LP now owns 1,301,453 shares of the company's stock worth $16,854,000 after purchasing an additional 10,604 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in MediaAlpha by 24.1% during the first 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 boosted its position in MediaAlpha by 10.6% during the fourth 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. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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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