MediaAlpha (NYSE:MAX) Director Sells $104,859.90 in Stock

MediaAlpha, Inc. (NYSE:MAX) Director Eugene Nonko sold 8,205 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $12.78, for a total value of $104,859.90. Following the completion of the transaction, the director directly owned 984,164 shares of the company’s stock, valued at $12,577,615.92. This represents a 0.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through 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, August 12th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The shares were sold at an average price of $12.89, for a total value of $42,304.98.
• On Monday, August 10th, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $13.57, for a total value of $111,341.85.
• On Monday, August 10th, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The shares were sold at an average price of $13.30, for a total value of $43,650.60.
• On Tuesday, August 4th, Eugene Nonko sold 7,778 shares of MediaAlpha stock. The shares were sold at an average price of $12.45, for a total value of $96,836.10.
• On Tuesday, August 4th, Eugene Nonko sold 2,667 shares of MediaAlpha stock. The shares were sold at an average price of $12.50, for a total value of $33,337.50.
• On Monday, August 3rd, Eugene Nonko sold 8,205 shares of MediaAlpha stock. The stock was sold at an average price of $12.48, for a total transaction of $102,398.40.
• On Monday, August 3rd, Eugene Nonko sold 3,282 shares of MediaAlpha stock. The stock was sold at an average price of $12.54, for a total transaction of $41,156.28.
• On Wednesday, July 29th, Eugene Nonko sold 9,524 shares of MediaAlpha stock. The shares were sold at an average price of $14.05, for a total transaction of $133,812.20.
• On Wednesday, July 29th, Eugene Nonko sold 4,952 shares of MediaAlpha stock. The shares were sold at an average price of $14.05, for a total transaction of $69,575.60.
• On Tuesday, July 28th, Eugene Nonko sold 10,843 shares of MediaAlpha stock. The shares were sold at an average price of $13.78, for a total transaction of $149,416.54.

MediaAlpha Price Performance

Shares of MAX stock opened at $13.15 on Friday. The firm has a market cap of $805.81 million, a P/E ratio of 8.12 and a beta of 1.11. MediaAlpha, Inc. has a 1-year low of $7.09 and a 1-year high of $14.70. The firm has a fifty day moving average of $12.37 and a two-hundred day moving average of $10.30.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.42. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. The business had revenue of $316.88 million for the quarter, compared to analyst estimates of $300.87 million. On average, sell-side analysts expect that MediaAlpha, Inc. will post 0.97 EPS for the current year.

Hedge Funds Weigh In On MediaAlpha

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC raised its position in shares of MediaAlpha by 2.3% during the 2nd quarter. Hsbc Holdings PLC now owns 51,550 shares of the company’s stock worth $561,000 after purchasing an additional 1,144 shares during the period. Tower Research Capital LLC TRC boosted its position in MediaAlpha by 28.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock valued at $61,000 after purchasing an additional 1,213 shares during the period. Quarry LP boosted its position in MediaAlpha by 43.3% during the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock valued at $47,000 after purchasing an additional 1,234 shares during the period. The Manufacturers Life Insurance Company grew its stake in MediaAlpha by 13.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,757 shares of the company’s stock worth $140,000 after buying an additional 1,510 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in MediaAlpha by 5,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock worth $28,000 after buying an additional 2,124 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MAX has been the topic of several research reports. TD Cowen cut their price objective on MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Tuesday, June 23rd. The Goldman Sachs Group lifted their target price on MediaAlpha from $10.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Royal Bank Of Canada boosted their price target on MediaAlpha from $11.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Canaccord Genuity Group upped their price target on MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Texas Capital upgraded MediaAlpha to a “strong-buy” rating in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.86.

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.