Key Points
- MediaAlpha CRO Keith Cramer sold 13,000 shares on May 15 at an average price of $8.05, totaling $104,650. The sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vested equity awards.
- Cramer has been trimming his stake recently, including sales of 10,000 shares in both April and March, reducing his position by 4.24% after the latest transaction.
- The stock remains under pressure despite recent results: MAX opened at $8.26, well below its 50-day and 200-day moving averages, and the company recently reported quarterly EPS of $0.21, missing estimates even as revenue came in above expectations.
MediaAlpha, Inc. (NYSE:MAX - Get Free Report) General Counsel Jeffrey Coyne sold 5,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $8.10, for a total value of $40,500.00. Following the sale, the general counsel owned 591,764 shares of the company's stock, valued at $4,793,288.40. This represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.
MediaAlpha Price Performance
Shares of MediaAlpha stock opened at $8.26 on Wednesday. MediaAlpha, Inc. has a one year low of $7.09 and a one year high of $13.92. The business's 50 day simple moving average is $9.39 and its two-hundred day simple moving average is $10.66. The stock has a market capitalization of $515.20 million, a P/E ratio of 12.91 and a beta of 1.16.
MediaAlpha (NYSE:MAX - Get Free Report) last released its quarterly earnings data 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 net margin of 3.37% and a negative return on equity of 147.82%. The company had revenue of $310.00 million for the quarter, compared to analysts' expectations of $298.91 million. During the same period last year, the company posted ($0.04) EPS. The business's revenue for the quarter was up 17.3% compared to the same quarter last year. Sell-side analysts expect that MediaAlpha, Inc. will post 1.02 earnings per share for the current fiscal year.
Institutional Trading of MediaAlpha
Several large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC raised its holdings in MediaAlpha by 680.9% in the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company's stock worth $16,268,000 after purchasing an additional 1,246,493 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of MediaAlpha by 1,261.9% during the third quarter. Victory Capital Management Inc. now owns 710,819 shares of the company's stock valued at $8,089,000 after buying an additional 658,625 shares during the period. JPMorgan Chase & Co. increased its position in shares of MediaAlpha by 95.2% during the third quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company's stock valued at $12,045,000 after buying an additional 516,195 shares during the period. Lazard Asset Management LLC bought a new position in MediaAlpha in the second quarter worth about $4,268,000. Finally, Lighthouse Investment Partners LLC raised its stake in MediaAlpha by 831.7% in the third quarter. Lighthouse Investment Partners LLC now owns 353,930 shares of the company's stock worth $4,028,000 after buying an additional 315,943 shares in the last quarter. Institutional investors own 64.39% of the company's stock.
Analyst Ratings Changes
MAX has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods cut their price target 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. Weiss Ratings upgraded shares of MediaAlpha from a "sell (d)" rating to a "hold (c-)" rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. raised their target price on MediaAlpha from $11.00 to $12.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Royal Bank Of Canada reduced their price target on MediaAlpha from $18.00 to $11.00 and set an "outperform" rating on the stock in a report on Tuesday, February 24th. Finally, Zacks Research lowered MediaAlpha from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 25th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $12.90.
Read Our Latest Analysis on MediaAlpha
About MediaAlpha
(
Get Free Report)
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.
Further Reading
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