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

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 13,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $12.76, for a total value of $165,880.00. Following the completion of the transaction, the executive owned 264,303 shares in the company, valued at approximately $3,372,506.28. This trade represents a 4.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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, June 15th, Keith Cramer sold 13,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.47, for a total value of $123,110.00.

MediaAlpha Stock Down 4.0%

MAX stock opened at $12.64 on Tuesday. MediaAlpha, Inc. has a 52-week low of $7.09 and a 52-week high of $14.70. The stock’s 50 day moving average is $12.44 and its two-hundred day moving average is $10.31. The company has a market capitalization of $774.33 million, a PE ratio of 7.80 and a beta of 1.11.

MediaAlpha (NYSE:MAX) last announced 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. The company had revenue of $316.88 million for the quarter, compared to analyst estimates of $300.87 million. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%. As a group, sell-side analysts anticipate that MediaAlpha, Inc. will post 0.97 EPS for the current year.

Analyst Upgrades and Downgrades

MAX has been the subject of several research analyst reports. Weiss Ratings raised MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 1st. Zacks Research lowered MediaAlpha from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Keefe, Bruyette & Woods boosted their price target on MediaAlpha from $15.00 to $17.00 and gave the company an “outperform” rating in a report on Wednesday, July 8th. 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, Capital One Financial set a $11.00 price target on MediaAlpha in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, MediaAlpha currently has an average rating of “Moderate Buy” and an average target price of $13.86.

Institutional Investors Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently bought and sold shares of MAX. Caitong International Asset Management Co. Ltd lifted its holdings in MediaAlpha by 5,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock worth $28,000 after acquiring an additional 2,124 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of MediaAlpha by 9,917.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock valued at $36,000 after purchasing an additional 2,777 shares during the last quarter. Strs Ohio acquired a new stake in shares of MediaAlpha during the 4th quarter worth approximately $49,000. Quarry LP raised its position in shares of MediaAlpha by 43.3% during the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after purchasing an additional 1,234 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of MediaAlpha by 28.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock worth $61,000 after purchasing an additional 1,213 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

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.