MediaAlpha (NYSE:MAX) CRO Keith Cramer Sells 10,000 Shares of Stock

by · The Markets Daily

MediaAlpha, Inc. (NYSE:MAX – Get Free Report) CRO Keith Cramer sold 10,000 shares of MediaAlpha stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $11.37, for a total transaction of $113,700.00. Following the completion of the transaction, the executive owned 177,169 shares in the company, valued at approximately $2,014,411.53. This trade represents a 5.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Monday, December 15th, Keith Cramer sold 10,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.83, for a total value of $128,300.00.

MediaAlpha Stock Performance

Shares of MAX traded down $0.15 during trading hours on Friday, hitting $11.43. The stock had a trading volume of 687,000 shares, compared to its average volume of 478,055. MediaAlpha, Inc. has a 12-month low of $7.33 and a 12-month high of $13.92. The firm has a market cap of $745.15 million, a P/E ratio of -381.01 and a beta of 1.21. The company’s fifty day simple moving average is $12.54 and its 200 day simple moving average is $11.63.

MediaAlpha (NYSE:MAX – Get Free Report) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.21 by $0.05. The company had revenue of $306.51 million during the quarter, compared to analyst estimates of $283.30 million. MediaAlpha had a negative return on equity of 71.02% and a negative net margin of 0.10%.The firm’s revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.17 earnings per share. As a group, sell-side analysts predict that MediaAlpha, Inc. will post 0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MediaAlpha

A number of hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC lifted its position 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 buying an additional 1,246,493 shares during the last quarter. Victory Capital Management Inc. raised its stake in MediaAlpha by 1,261.9% during the third quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock worth $8,089,000 after acquiring an additional 658,625 shares during the period. JPMorgan Chase & Co. raised its stake in MediaAlpha by 95.2% during the third quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company’s stock worth $12,045,000 after acquiring an additional 516,195 shares during the period. Lazard Asset Management LLC bought a new position in MediaAlpha in the second quarter worth about $4,268,000. Finally, Lighthouse Investment Partners LLC boosted its stake in MediaAlpha by 831.7% in the third quarter. Lighthouse Investment Partners LLC now owns 353,930 shares of the company’s stock valued at $4,028,000 after acquiring an additional 315,943 shares during the period. Institutional investors and hedge funds own 64.39% of the company’s stock.

Analyst Ratings Changes

MAX has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of MediaAlpha from $14.00 to $15.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded MediaAlpha from a “buy” rating to a “strong-buy” rating in a report on Sunday, January 11th. The Goldman Sachs Group set a $13.50 target price on MediaAlpha in a research report on Friday, October 31st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 price target on shares of MediaAlpha in a research note on Thursday, October 30th. Finally, Zacks Research lowered MediaAlpha from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 31st. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.25.

Check Out Our Latest Analysis on MediaAlpha

MediaAlpha Company Profile

(Get Free Report)

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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