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

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $8.05, for a total transaction of $104,650.00. Following the sale, the executive directly owned 293,528 shares of the company’s stock, valued at approximately $2,362,900.40. This trade represents a 4.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through 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 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.
• On Monday, March 16th, Keith Cramer sold 10,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.89, for a total transaction of $98,900.00.

MediaAlpha Trading Down 0.3%

Shares of MediaAlpha stock opened at $8.26 on Wednesday. The company has a 50 day moving average of $9.39 and a 200-day moving average of $10.66. MediaAlpha, Inc. has a 1-year low of $7.09 and a 1-year high of $13.92. The company has a market cap of $515.20 million, a PE ratio of 12.91 and a beta of 1.16.

MediaAlpha (NYSE:MAX) last issued its quarterly 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). MediaAlpha had a negative return on equity of 147.82% and a net margin of 3.37%.The firm had revenue of $310.00 million for the quarter, compared to the consensus estimate of $298.91 million. During the same period last year, the company posted ($0.04) EPS. The business’s revenue was up 17.3% on a year-over-year basis. Research analysts forecast that MediaAlpha, Inc. will post 1.02 earnings per share for the current year.

Hedge Funds Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in 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 purchasing an additional 221,540 shares during the last quarter. Amundi lifted its stake in MediaAlpha by 33.2% in the 1st quarter. Amundi now owns 78,104 shares of the company’s stock valued at $726,000 after purchasing an additional 19,488 shares during the last quarter. Stoic Point Capital Management LLC increased its position in MediaAlpha by 6.6% in the 1st quarter. Stoic Point Capital Management LLC now owns 221,041 shares of the company’s stock valued at $2,056,000 after acquiring an additional 13,743 shares during the period. Quantinno Capital Management LP increased its position in MediaAlpha by 150.9% in the 1st quarter. Quantinno Capital Management LP now owns 107,274 shares of the company’s stock valued at $998,000 after acquiring an additional 64,526 shares during the period. Finally, Jacobs Asset Management LLC increased 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 acquiring an additional 219,144 shares during the period. Institutional investors own 64.39% of the company’s stock.

Wall Street Analysts Forecast Growth

MAX has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of MediaAlpha from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 2nd. Royal Bank Of Canada dropped their price objective on shares of MediaAlpha from $18.00 to $11.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Keefe, Bruyette & Woods dropped their price objective on shares of MediaAlpha from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. The Goldman Sachs Group dropped their price objective on shares of MediaAlpha from $13.50 to $11.50 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of MediaAlpha from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, MediaAlpha has an average rating of “Moderate Buy” and a consensus target price of $12.90.

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.