Insider Selling: MediaAlpha, Inc. (NYSE:MAX) CRO Sells 20,000 Shares of 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 stock was sold at an average price of $9.73, for a total transaction of $194,600.00. Following the sale, the executive directly owned 167,200 shares of the company's stock, valued at $1,626,856. This represents a 10.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, August 11th, Keith Cramer sold 4,753 shares of MediaAlpha stock. The stock was sold at an average price of $10.03, for a total transaction 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 transaction of $55,599.96.

MediaAlpha Price Performance

MAX stock traded down $0.16 during trading hours on Friday, reaching $9.98. The stock had a trading volume of 539,835 shares, compared to its average volume of 514,615. The stock has a market capitalization of $668.96 million, a PE ratio of -83.16 and a beta of 1.19. The stock has a 50-day simple moving average of $10.55 and a 200 day simple moving average of $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 announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. The firm had revenue of $251.62 million during the quarter, compared to analysts' expectations of $248.80 million. MediaAlpha had a negative net margin of 0.61% and a negative return on equity of 62.53%. The company's revenue for the quarter was up 41.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.07 earnings per share. On average, sell-side analysts forecast that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Royal Bank Of Canada decreased their target price on shares of MediaAlpha from $20.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Keefe, Bruyette & Woods decreased their target price on shares of MediaAlpha from $19.00 to $16.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. raised their target price on shares of MediaAlpha from $10.00 to $12.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. Finally, Wall Street Zen downgraded shares of MediaAlpha from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, MediaAlpha presently has an average rating of "Moderate Buy" and an average target price of $17.92.

Institutional Trading of MediaAlpha

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of MediaAlpha by 54.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 42,298 shares of the company's stock worth $381,000 after buying an additional 14,871 shares during the period. GAMMA Investing LLC boosted its holdings in MediaAlpha by 8,775.8% in the 1st quarter. GAMMA Investing LLC now owns 2,929 shares of the company's stock valued at $27,000 after purchasing an additional 2,896 shares during the period. Virtus Investment Advisers Inc. bought a new stake in MediaAlpha in the 4th quarter valued at about $172,000. Millennium Management LLC boosted its holdings in MediaAlpha by 91.0% in the 4th 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 period. Finally, JPMorgan Chase & Co. boosted its holdings in MediaAlpha by 52.8% in the 4th quarter. JPMorgan Chase & Co. now owns 122,386 shares of the company's stock valued at $1,382,000 after purchasing an additional 42,315 shares during the period. Institutional investors own 64.39% of the company's stock.

MediaAlpha Company Profile

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.