Keith Cramer Sells 20,000 Shares of MediaAlpha, Inc. (NYSE:MAX) Stock

Key Points

• Keith Cramer, the Chief Revenue Officer of MediaAlpha, Inc., sold a total of 20,000 shares of the company’s stock on August 12 for an average price of $9.73, resulting in a transaction value of approximately $194,600.
• MediaAlpha recently reported earnings of $0.17 per share, exceeding analysts' expectations, with a significant 41.1% increase in revenue year-over-year.
• Institutional investors currently hold 64.39% of MediaAlpha's stock, indicating strong interest from larger investment firms in the company's performance.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) CRO Keith Cramer sold 20,000 shares of the stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $9.73, for a total value of $194,600.00. Following the sale, the executive directly owned 167,200 shares in the company, valued at $1,626,856. This trade represents a 10.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Monday, August 11th, Keith Cramer sold 4,753 shares of MediaAlpha stock. The shares were sold at an average price of $10.03, for a total value of $47,672.59.
• 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 Stock Performance

MAX stock traded up $0.25 during midday trading on Tuesday, reaching $9.81. The stock had a trading volume of 680,246 shares, compared to its average volume of 465,802. The stock has a market cap of $657.43 million, a PE ratio of 16.77 and a beta of 1.19. The firm has a fifty day simple moving average of $10.58 and a two-hundred day simple moving average of $10.08. MediaAlpha, Inc. has a 52-week low of $7.33 and a 52-week high of $20.91.

MediaAlpha (NYSE:MAX - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $251.62 million during the quarter, compared to analyst estimates of $248.80 million. MediaAlpha had a negative return on equity of 62.53% and a negative net margin of 0.61%. The company's revenue was up 41.1% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. On average, sell-side analysts predict that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On MediaAlpha

A number of institutional investors have recently modified their holdings of the business. Covestor Ltd grew its position in shares of MediaAlpha by 44.1% during the 4th quarter. Covestor Ltd now owns 2,766 shares of the company's stock valued at $31,000 after acquiring an additional 847 shares during the period. Earnest Partners LLC grew its position in shares of MediaAlpha by 0.4% during the 4th quarter. Earnest Partners LLC now owns 241,559 shares of the company's stock valued at $2,727,000 after acquiring an additional 1,021 shares during the period. Intech Investment Management LLC grew its position in shares of MediaAlpha by 6.4% during the 2nd quarter. Intech Investment Management LLC now owns 18,502 shares of the company's stock valued at $203,000 after acquiring an additional 1,105 shares during the period. Corton Capital Inc. grew its position in shares of MediaAlpha by 8.2% during the 2nd quarter. Corton Capital Inc. now owns 18,865 shares of the company's stock valued at $207,000 after acquiring an additional 1,425 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in shares of MediaAlpha by 14.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 20,236 shares of the company's stock valued at $229,000 after acquiring an additional 2,492 shares during the period. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MAX has been the topic of several recent research reports. The Goldman Sachs Group dropped their target price on MediaAlpha from $14.00 to $12.50 and set a "buy" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. raised their price objective on MediaAlpha from $10.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Keefe, Bruyette & Woods lowered their price objective on MediaAlpha from $19.00 to $16.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Royal Bank Of Canada lowered their price objective on MediaAlpha from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Finally, Wall Street Zen cut MediaAlpha from a "buy" rating to a "hold" rating in a research report on Saturday. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.

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