MediaAlpha (NYSE:MAX) Director Sells 9,059 Shares of Stock

Key Points

• MediaAlpha director Eugene Nonko sold 9,059 shares on July 1 at an average price of $12.80, totaling about $115,955. The sale was part of a pre-arranged Rule 10b5-1 plan and was made to cover tax withholding tied to equity awards.
• Nonko has been actively selling shares recently, with multiple transactions in late June and early July, including several sales ranging from about 1,067 to 13,334 shares. After the latest sale, he still held 1,162,656 shares.
• MediaAlpha shares were trading near a 12-month high at $12.81, up slightly on the day, while analysts currently view the stock as a Moderate Buy with a consensus target price of $12.36. The company also recently reported better-than-expected revenue but missed EPS estimates in its latest earnings release.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) Director Eugene Nonko sold 9,059 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $12.80, for a total value of $115,955.20. Following the completion of the transaction, the director owned 1,162,656 shares in the company, valued at $14,881,996.80. This represents a 0.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 1st, Eugene Nonko sold 4,512 shares of MediaAlpha stock. The stock was sold at an average price of $12.77, for a total value of $57,618.24.
• On Monday, June 29th, Eugene Nonko sold 7,778 shares of MediaAlpha stock. The shares were sold at an average price of $11.93, for a total value of $92,791.54.
• On Monday, June 29th, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The shares were sold at an average price of $11.81, for a total value of $31,497.27.
• On Wednesday, June 24th, Eugene Nonko sold 6,667 shares of MediaAlpha stock. The stock was sold at an average price of $10.47, for a total transaction of $69,803.49.
• On Wednesday, June 24th, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The stock was sold at an average price of $10.46, for a total transaction of $11,160.82.
• On Monday, June 22nd, Eugene Nonko sold 6,667 shares of MediaAlpha stock. The shares were sold at an average price of $10.15, for a total transaction of $67,670.05.
• On Monday, June 22nd, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The shares were sold at an average price of $10.00, for a total transaction of $10,670.00.
• On Wednesday, June 17th, Eugene Nonko sold 6,667 shares of MediaAlpha stock. The stock was sold at an average price of $10.01, for a total transaction of $66,736.67.
• On Wednesday, June 17th, Eugene Nonko sold 1,067 shares of MediaAlpha stock. The stock was sold at an average price of $10.00, for a total transaction of $10,670.00.
• On Tuesday, June 16th, Eugene Nonko sold 13,334 shares of MediaAlpha stock. The shares were sold at an average price of $10.00, for a total transaction of $133,340.00.

MediaAlpha Stock Performance

Shares of MediaAlpha stock traded up $0.24 during mid-day trading on Wednesday, hitting $12.81. 1,320,780 shares of the stock were exchanged, compared to its average volume of 691,974. MediaAlpha, Inc. has a 12 month low of $7.09 and a 12 month high of $13.92. The company has a 50-day simple moving average of $9.50 and a 200 day simple moving average of $10.00. The company has a market capitalization of $798.45 million, a P/E ratio of 20.01 and a beta of 1.08.

MediaAlpha (NYSE:MAX - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). The business had revenue of $310.00 million during the quarter, compared to the consensus estimate of $298.91 million. MediaAlpha had a net margin of 3.37% and a negative return on equity of 147.82%. The business's revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) earnings per share. Analysts predict that MediaAlpha, Inc. will post 0.99 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Zacks Research lowered MediaAlpha from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 19th. Wall Street Zen lowered shares of MediaAlpha from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 2nd. Capital One Financial set a $11.00 price objective on shares of MediaAlpha in a report on Tuesday, June 9th. TD Cowen lowered their price objective on shares of MediaAlpha from $13.00 to $11.00 and set a "hold" rating on the stock in a research report on Tuesday, June 23rd. Finally, JPMorgan Chase & Co. boosted their target price on shares of MediaAlpha from $11.00 to $12.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, MediaAlpha currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.36.

Institutional Trading of MediaAlpha

Several hedge funds have recently made changes to their positions in MAX. Millennium Management LLC lifted its position in shares of MediaAlpha by 680.9% during the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company's stock valued at $16,268,000 after buying an additional 1,246,493 shares during the last quarter. JPMorgan Chase & Co. lifted 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 valued at $17,714,000 after purchasing an additional 309,455 shares during the last quarter. Clearline Capital LP lifted 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 valued at $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 during the period. 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 during the period. 64.39% of the stock is currently owned by institutional investors.

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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