Jeffrey Coyne Sells 5,000 Shares of MediaAlpha (NYSE:MAX) Stock

MediaAlpha, Inc. (NYSE:MAX) General Counsel Jeffrey Coyne sold 5,000 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $8.10, for a total transaction of $40,500.00. Following the completion of the transaction, the general counsel directly owned 591,764 shares of the company’s stock, valued at approximately $4,793,288.40. The trade was a 0.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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.

MediaAlpha Price Performance

Shares of MediaAlpha stock opened at $8.37 on Thursday. The company’s 50 day moving average price is $9.36 and its two-hundred day moving average price is $10.63. The firm has a market capitalization of $521.56 million, a P/E ratio of 13.07 and a beta of 1.16. MediaAlpha, Inc. has a fifty-two week low of $7.09 and a fifty-two week high of $13.92.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Weiss Ratings raised MediaAlpha from a “sell (d)” rating to a “hold (c-)” rating in a research note on Wednesday, February 25th. The Goldman Sachs Group lowered their price objective on MediaAlpha from $13.50 to $11.50 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. Zacks Research lowered shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on shares of MediaAlpha from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of MediaAlpha from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.90.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning acquired a new stake in shares of MediaAlpha in the second quarter valued at about $168,000. JPMorgan Chase & Co. lifted its stake in shares of MediaAlpha by 75.9% in the second quarter. JPMorgan Chase & Co. now owns 542,246 shares of the company’s stock worth $5,938,000 after acquiring an additional 233,948 shares during the period. Legal & General Group Plc lifted its stake in shares of MediaAlpha by 29.3% in the second quarter. Legal & General Group Plc now owns 36,315 shares of the company’s stock worth $398,000 after acquiring an additional 8,229 shares during the period. Rhumbline Advisers boosted its holdings in MediaAlpha by 34.4% in the second quarter. Rhumbline Advisers now owns 55,622 shares of the company’s stock valued at $609,000 after acquiring an additional 14,234 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in MediaAlpha in the second quarter valued at approximately $153,000. 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.