MediaAlpha (NYSE:MAX) Director Eugene Nonko Sells 6,667 Shares of Stock

MediaAlpha, Inc. (NYSE:MAX) Director Eugene Nonko sold 6,667 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $10.01, for a total transaction of $66,736.67. Following the completion of the sale, the director directly owned 1,207,272 shares in the company, valued at $12,084,792.72. This trade represents a 0.55% decrease in their position. The sale 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, 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 stock was sold at an average price of $10.00, for a total value of $133,340.00.
• On Tuesday, June 16th, Eugene Nonko sold 2,134 shares of MediaAlpha stock. The shares were sold at an average price of $10.00, for a total value of $21,340.00.
• On Wednesday, June 10th, Eugene Nonko sold 20,001 shares of MediaAlpha stock. The shares were sold at an average price of $10.00, for a total value of $200,010.00.
• On Wednesday, June 10th, Eugene Nonko sold 3,201 shares of MediaAlpha stock. The stock was sold at an average price of $10.00, for a total value of $32,010.00.
• On Wednesday, April 29th, Eugene Nonko sold 26,888 shares of MediaAlpha stock. The stock was sold at an average price of $10.01, for a total value of $269,148.88.
• On Wednesday, April 29th, Eugene Nonko sold 25,606 shares of MediaAlpha stock. The stock was sold at an average price of $10.01, for a total value of $256,316.06.
• On Tuesday, April 28th, Eugene Nonko sold 5,150 shares of MediaAlpha stock. The shares were sold at an average price of $10.00, for a total value of $51,500.00.
• On Tuesday, April 28th, Eugene Nonko sold 2,003 shares of MediaAlpha stock. The shares were sold at an average price of $10.00, for a total value of $20,030.00.
• On Monday, April 27th, Eugene Nonko sold 27,513 shares of MediaAlpha stock. The shares were sold at an average price of $10.04, for a total value of $276,230.52.

MediaAlpha Stock Performance

MediaAlpha stock traded up $0.12 during midday trading on Thursday, reaching $10.14. 575,241 shares of the company were exchanged, compared to its average volume of 719,922. The company has a market capitalization of $632.35 million, a price-to-earnings ratio of 15.85 and a beta of 1.16. The firm’s 50-day simple moving average is $9.18 and its 200-day simple moving average is $10.14. MediaAlpha, Inc. has a 1 year low of $7.09 and a 1 year high of $13.92.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, April 29th. The company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.04). The firm had revenue of $310.00 million during the quarter, compared to analyst estimates of $298.91 million. MediaAlpha had a net margin of 3.37% and a negative return on equity of 147.82%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.04) EPS. On average, analysts forecast that MediaAlpha, Inc. will post 1.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of MediaAlpha from $11.00 to $12.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Texas Capital upgraded shares of MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. Weiss Ratings cut shares of MediaAlpha from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. The Goldman Sachs Group cut their price target on MediaAlpha from $13.50 to $11.50 and set a “neutral” rating for the company in a report on Tuesday, February 24th. Finally, Royal Bank Of Canada reduced their price target on MediaAlpha from $18.00 to $11.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.58.

Institutional Trading of MediaAlpha

Hedge funds have recently added to or reduced their stakes in the business. Millennium Management LLC grew its holdings in MediaAlpha by 680.9% in 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 period. Victory Capital Management Inc. lifted its holdings in shares of MediaAlpha by 1,261.9% during the 3rd 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. boosted its position in shares of MediaAlpha by 95.2% in 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 last quarter. Lazard Asset Management LLC purchased a new stake in MediaAlpha in the second quarter valued at approximately $4,268,000. Finally, Lighthouse Investment Partners LLC increased its position in MediaAlpha by 831.7% during the third quarter. Lighthouse Investment Partners LLC now owns 353,930 shares of the company’s stock worth $4,028,000 after purchasing an additional 315,943 shares during the last quarter. 64.39% of the stock is owned by institutional investors and hedge funds.

MediaAlpha Company Profile

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.