Insider Selling: MediaAlpha (NYSE:MAX) CRO Sells $128,300.00 in Stock

by · The Cerbat Gem

MediaAlpha, Inc. (NYSE:MAX – Get Free Report) CRO Keith Cramer sold 10,000 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $12.83, for a total value of $128,300.00. Following the completion of the transaction, the executive owned 187,169 shares in the company, valued at $2,401,378.27. This represents a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

MediaAlpha Trading Down 0.9%

NYSE MAX opened at $12.82 on Friday. MediaAlpha, Inc. has a 12 month low of $7.33 and a 12 month high of $13.92. The stock has a 50-day simple moving average of $12.32 and a 200 day simple moving average of $11.45. The company has a market capitalization of $835.41 million, a PE ratio of -427.16 and a beta of 1.21.

MediaAlpha (NYSE:MAX – Get Free Report) last issued its earnings results on Wednesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $306.51 million for the quarter, compared to analysts’ expectations of $283.30 million. MediaAlpha had a negative return on equity of 71.02% and a negative net margin of 0.10%.The company’s revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the business earned $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.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on MAX shares. Weiss Ratings reissued a “sell (d)” rating on shares of MediaAlpha in a research report on Monday. The Goldman Sachs Group set a $13.50 target price on MediaAlpha in a report on Friday, October 31st. Wall Street Zen raised MediaAlpha from a “hold” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Zacks Research raised MediaAlpha from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 2nd. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $15.00 price objective on shares of MediaAlpha in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given 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

Institutional Trading of MediaAlpha

Several hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its stake in shares of MediaAlpha by 18.1% during the 1st quarter. AQR Capital Management LLC now owns 557,796 shares of the company’s stock worth $5,154,000 after buying an additional 85,581 shares during the last quarter. Divisadero Street Capital Management LP acquired a new stake in shares of MediaAlpha in the second quarter valued at about $952,000. Hsbc Holdings PLC raised its holdings in MediaAlpha by 21.7% during the first quarter. Hsbc Holdings PLC now owns 50,406 shares of the company’s stock worth $472,000 after acquiring an additional 8,981 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in MediaAlpha during the second quarter valued at approximately $895,000. Finally, Nuveen LLC bought a new position in MediaAlpha in the first quarter valued at approximately $4,675,000. Institutional investors and hedge funds own 64.39% of the company’s stock.

About MediaAlpha

(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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