Keith Cramer Sells 4,916 Shares of MediaAlpha, Inc. (NYSE:MAX) Stock

Key Points

• Keith Cramer, CRO of MediaAlpha, Inc., sold a total of 29,669 shares of the company's stock on various dates, indicating a 2.50% decrease in his position.
• MediaAlpha reported $0.17 earnings per share for the last quarter, beating estimates, and its revenue increased by 41.1% year-over-year.
• Several analysts have adjusted their price targets for MediaAlpha, with JPMorgan raising it from $10.00 to $12.00, while maintaining an "overweight" rating.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) CRO Keith Cramer sold 4,916 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $11.31, for a total transaction of $55,599.96. Following the completion of the transaction, the executive owned 191,953 shares of the company's stock, valued at approximately $2,170,988.43. This trade represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, August 12th, Keith Cramer sold 20,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.73, for a total transaction of $194,600.00.
• 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.

MediaAlpha Stock Down 1.6%

NYSE MAX traded down $0.16 during trading hours on Friday, reaching $9.98. 539,835 shares of the company were exchanged, compared to its average volume of 514,615. MediaAlpha, Inc. has a 1 year low of $7.33 and a 1 year high of $20.91. The business's 50 day simple moving average is $10.55 and its 200-day simple moving average is $10.06. The stock has a market capitalization of $668.96 million, a P/E ratio of -83.16 and a beta of 1.19.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its 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. The firm had revenue of $251.62 million during the quarter, compared to the consensus estimate 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 was up 41.1% on a year-over-year basis. During the same quarter last year, the company earned $0.07 earnings per share. As a group, sell-side analysts anticipate that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective 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. Wall Street Zen lowered shares of MediaAlpha from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Keefe, Bruyette & Woods dropped their price objective 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. Finally, Royal Bank Of Canada dropped their price objective 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. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.92.

Hedge Funds Weigh In On MediaAlpha

A number of large investors have recently modified their holdings of MAX. GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 2,896 shares in the last quarter. Covestor Ltd lifted its holdings in shares of MediaAlpha by 44.1% in the 4th quarter. Covestor Ltd now owns 2,766 shares of the company's stock worth $31,000 after acquiring an additional 847 shares during the last quarter. Virtus Fund Advisers LLC bought a new stake in shares of MediaAlpha in the 4th quarter worth approximately $35,000. Tower Research Capital LLC TRC lifted its holdings in shares of MediaAlpha by 28.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company's stock worth $61,000 after acquiring an additional 1,213 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of MediaAlpha in the 2nd quarter worth approximately $62,000. 64.39% of the stock is currently owned by institutional investors.

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.