MediaAlpha (NYSE:MAX) CRO Sells 13,000 Shares of Stock

by · The Cerbat Gem

MediaAlpha, Inc. (NYSE:MAX – Get Free Report) CRO Keith Cramer sold 13,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $11.49, for a total value of $149,370.00. Following the completion of the sale, the executive owned 251,303 shares in the company, valued at $2,887,471.47. This represents a 4.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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.

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

  • On Monday, August 17th, Keith Cramer sold 13,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.76, for a total value of $165,880.00.

MediaAlpha Trading Down 3.8%

MediaAlpha stock traded down $0.44 during midday trading on Wednesday, reaching $11.01. 664,522 shares of the stock traded hands, compared to its average volume of 763,519. The firm has a market cap of $674.66 million, a PE ratio of 6.80 and a beta of 1.16. The company has a 50-day simple moving average of $12.94 and a two-hundred day simple moving average of $10.88. MediaAlpha, Inc. has a 12-month low of $7.09 and a 12-month high of $14.70.

MediaAlpha (NYSE:MAX – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.42. The company had revenue of $316.88 million for the quarter, compared to analyst estimates of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. Equities research analysts anticipate that MediaAlpha, Inc. will post 1.28 earnings per share for the current year.

Wall Street Analyst Weigh In

MAX has been the topic of a number of research reports. TD Cowen reduced their target price on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, June 23rd. Weiss Ratings upgraded shares of MediaAlpha from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, September 1st. Canaccord Genuity Group increased their price objective on MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Wall Street Zen upgraded MediaAlpha from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Finally, JPMorgan Chase & Co. assumed coverage on MediaAlpha in a research note on Monday, August 24th. They set a “neutral” rating and a $15.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.29.

Read Our Latest Stock Analysis on MediaAlpha

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in shares of MediaAlpha by 94.1% in the first quarter. Dimensional Fund Advisors LP now owns 620,669 shares of the company’s stock valued at $5,773,000 after acquiring an additional 300,871 shares during the period. Bank of America Corp DE increased its holdings in shares of MediaAlpha by 380.9% in the 1st quarter. Bank of America Corp DE now owns 279,704 shares of the company’s stock valued at $2,601,000 after acquiring an additional 221,540 shares during the period. Jacobs Asset Management LLC raised its position in MediaAlpha by 31.1% in the 1st quarter. Jacobs Asset Management LLC now owns 924,443 shares of the company’s stock valued at $8,597,000 after purchasing an additional 219,144 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in MediaAlpha by 24.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company’s stock valued at $9,876,000 after purchasing an additional 206,077 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in MediaAlpha by 288.7% during the 1st quarter. Principal Financial Group Inc. now owns 137,613 shares of the company’s stock worth $1,280,000 after purchasing an additional 102,210 shares during the period. Hedge funds and other institutional investors own 64.39% of the company’s stock.

About MediaAlpha

(Get Free Report)

MediaAlpha, Inc operates a technology platform that connects consumers seeking insurance and other financial products with providers seeking qualified customer leads. Its marketplace uses data, analytics and real-time bidding technology to help carriers, agencies and other distributors acquire customers across digital channels.

The company’s platform primarily supports the marketing and distribution of insurance products, including property and casualty, health and life insurance. MediaAlpha provides tools for managing customer acquisition campaigns, matching consumer inquiries with relevant providers, and optimizing marketing performance across search, display and other online channels.

MediaAlpha was founded in 2014 and is headquartered in Los Angeles, California.

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