Keith Cramer Sells 10,000 Shares of MediaAlpha (NYSE:MAX) Stock

MediaAlpha, Inc. (NYSE:MAX) CRO Keith Cramer sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $9.68, for a total value of $96,800.00. Following the transaction, the executive owned 296,754 shares in the company, valued at approximately $2,872,578.72. This trade represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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.

Keith Cramer also recently made the following trade(s):

• 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 value of $98,900.00.
• On Tuesday, February 17th, Keith Cramer sold 10,000 shares of MediaAlpha stock. The stock was sold at an average price of $7.16, for a total value of $71,600.00.
• On Thursday, January 15th, Keith Cramer sold 10,000 shares of MediaAlpha stock. The stock was sold at an average price of $11.37, for a total value of $113,700.00.

MediaAlpha Price Performance

Shares of MAX stock opened at $10.01 on Friday. The stock’s fifty day moving average price is $9.19 and its 200 day moving average price is $10.94. The company has a market cap of $645.90 million, a price-to-earnings ratio of 25.68 and a beta of 1.39. MediaAlpha, Inc. has a 1-year low of $7.09 and a 1-year high of $13.92.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings results on Monday, February 23rd. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.25. The business had revenue of $291.16 million for the quarter, compared to the consensus estimate of $296.42 million. MediaAlpha had a negative return on equity of 132.73% and a net margin of 2.30%.The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 EPS. As a group, equities research analysts anticipate that MediaAlpha, Inc. will post 0.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wall Street Zen upgraded MediaAlpha from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 11th. JPMorgan Chase & Co. dropped their price target on MediaAlpha from $15.00 to $11.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 24th. The Goldman Sachs Group decreased their price objective on MediaAlpha from $13.50 to $11.50 and set a “neutral” rating for the company in a report on Tuesday, February 24th. Royal Bank Of Canada decreased their price objective on MediaAlpha from $18.00 to $11.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. Finally, Keefe, Bruyette & Woods decreased their price objective on MediaAlpha from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.70.

Hedge Funds Weigh In On MediaAlpha

A number of hedge funds have recently bought and sold shares of MAX. Caitong International Asset Management Co. Ltd boosted its position in MediaAlpha by 5,900.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock worth $28,000 after purchasing an additional 2,124 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in MediaAlpha by 9,917.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock worth $36,000 after purchasing an additional 2,777 shares in the last quarter. Quarry LP boosted its position in MediaAlpha by 43.3% during the third quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after purchasing an additional 1,234 shares in the last quarter. Strs Ohio purchased a new position in MediaAlpha during the fourth quarter worth approximately $49,000. Finally, Tower Research Capital LLC TRC boosted its position in MediaAlpha by 28.0% during the second 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 in the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

About MediaAlpha

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.