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

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $9.47, for a total transaction of $123,110.00. Following the completion of the transaction, the executive directly owned 280,528 shares in the company, valued at $2,656,600.16. This trade represents a 4.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 Friday, May 15th, Keith Cramer sold 13,000 shares of MediaAlpha stock. The stock was sold at an average price of $8.05, for a total transaction of $104,650.00.
• On Wednesday, April 15th, Keith Cramer sold 10,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.68, for a total transaction of $96,800.00.

MediaAlpha Price Performance

MAX opened at $10.03 on Wednesday. The company’s 50 day simple moving average is $9.16 and its two-hundred day simple moving average is $10.16. MediaAlpha, Inc. has a 1-year low of $7.09 and a 1-year high of $13.92. The firm has a market capitalization of $625.12 million, a price-to-earnings ratio of 15.67 and a beta of 1.16.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Zacks Research lowered shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Keefe, Bruyette & Woods reduced their price target on shares of MediaAlpha from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Texas Capital raised shares of MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. Weiss Ratings raised shares of MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, May 29th. Finally, Capital One Financial set a $11.00 price target on shares of MediaAlpha in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.58.

Institutional Trading of MediaAlpha

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC raised its position in MediaAlpha by 2.3% in the second quarter. Hsbc Holdings PLC now owns 51,550 shares of the company’s stock valued at $561,000 after purchasing an additional 1,144 shares during the period. Tower Research Capital LLC TRC raised its position in MediaAlpha by 28.0% in the second 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 raised its position in MediaAlpha by 43.3% in the third 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 raised its position in MediaAlpha by 13.4% in the second quarter. The Manufacturers Life Insurance Company now owns 12,757 shares of the company’s stock valued at $140,000 after purchasing an additional 1,510 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position 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 valued at $28,000 after purchasing an additional 2,124 shares during the period. Hedge funds and other institutional investors 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.