Key Points
- White Mountains affiliate sold 1.13 million MediaAlpha shares at an average $14.15, worth about $16 million, cutting its position by 9.15% while retaining roughly 11.2 million shares. MediaAlpha repurchased the shares directly, offsetting potential market selling pressure.
- MediaAlpha’s latest quarterly results beat expectations: earnings were $0.46 per share versus a $0.28 consensus, and revenue was $375.95 million versus estimates of $347.93 million.
- Analyst sentiment is moderately positive, with a consensus “Moderate Buy” rating and a $14.71 price target; recent price targets from several firms range as high as $18.
MediaAlpha, Inc. (NYSE:MAX - Get Free Report) major shareholder Mountains Insurance Grou White sold 1,130,000 shares of the firm's stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $14.15, for a total value of $15,989,500.00. Following the transaction, the insider owned 11,226,223 shares in the company, valued at approximately $158,851,055.45. This trade represents a 9.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Mountains Insurance Grou White also recently made the following trade(s):
- On Wednesday, November 4th, Mountains Insurance Grou White sold 5,500,391 shares of MediaAlpha stock. The shares were sold at an average price of $13.90, for a total value of $76,455,434.90.
MediaAlpha Price Performance
Shares of NYSE:MAX traded down $0.16 during trading on Friday, reaching $14.65. 558,792 shares of the company traded hands, compared to its average volume of 1,218,706. The company's 50 day moving average is $11.68 and its two-hundred day moving average is $10.83. The firm has a market capitalization of $867.13 million, a PE ratio of 8.05 and a beta of 1.12. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 8.49. MediaAlpha, Inc. has a 52 week low of $7.09 and a 52 week high of $15.99.
MediaAlpha (NYSE:MAX - Get Free Report) last released its earnings results on Wednesday, October 28th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.18. MediaAlpha had a negative return on equity of 994.23% and a net margin of 8.35%. The company had revenue of $375.95 million for the quarter, compared to analyst estimates of $347.93 million. As a group, sell-side analysts predict that MediaAlpha, Inc. will post 1.47 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on MAX. JPMorgan Chase & Co. increased their price objective on shares of MediaAlpha from $15.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, October 29th. The Goldman Sachs Group raised their target price on shares of MediaAlpha from $10.50 to $13.00 and gave the company a "neutral" rating in a report on Thursday, October 29th. Royal Bank Of Canada boosted their target price on shares of MediaAlpha from $15.00 to $17.00 and gave the company an "outperform" rating in a research report on Thursday, October 29th. Canaccord Genuity Group upped their price target on shares of MediaAlpha from $17.00 to $18.00 and gave the stock a "buy" rating in a report on Thursday, October 29th. Finally, Weiss Ratings raised shares of MediaAlpha from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.71.
Read Our Latest Report on MAX
Key Stories Impacting MediaAlpha
Investors following MAX have been watching these stories:
- Positive Sentiment: MediaAlpha repurchased 1.13 million Class A shares from an affiliate of White Mountains Insurance Group for about $16 million. The buyback may support shareholder value by returning capital and reducing shares outstanding. MediaAlpha Announces $16 Million Private Stock Repurchase
- Neutral Sentiment: CTO Kuanling Yeh and Director Eugene Nonko reported share sales under pre-arranged Rule 10b5-1 plans to cover tax withholding tied to vested equity awards. These sales are less indicative of a change in their outlook; both continue to own substantial stakes. SEC filing for CTO sale
- Neutral Sentiment: White Mountains’ affiliate sold 1.13 million shares, reducing its ownership by 9.15%, but retained more than 11.2 million shares. Because MediaAlpha bought the shares directly in its announced repurchase, the transaction’s potential selling-pressure effect is offset by the company’s buyback. SEC filing for major shareholder sale
Institutional Trading of MediaAlpha
Institutional investors and hedge funds have recently modified their holdings of the business. Arrowstreet Capital Limited Partnership boosted its stake in MediaAlpha by 24.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company's stock valued at $9,876,000 after buying an additional 206,077 shares in the last quarter. Jacobs Asset Management LLC raised its stake in MediaAlpha by 31.1% during the first quarter. Jacobs Asset Management LLC now owns 924,443 shares of the company's stock worth $8,597,000 after acquiring an additional 219,144 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in MediaAlpha by 94.1% during the first quarter. Dimensional Fund Advisors LP now owns 620,669 shares of the company's stock worth $5,773,000 after acquiring an additional 300,871 shares in the last quarter. Triad Investment Management raised its stake in MediaAlpha by 10.4% during the second quarter. Triad Investment Management now owns 368,731 shares of the company's stock worth $4,635,000 after acquiring an additional 34,867 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of MediaAlpha by 8.7% in the second quarter. Squarepoint Ops LLC now owns 234,255 shares of the company's stock worth $2,945,000 after acquiring an additional 18,714 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors.
MediaAlpha Company Profile
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Get Free Report)
MediaAlpha operates a technology platform that connects consumers shopping for insurance with insurance carriers and distributors. Its marketplace uses consumer-intent data and real-time bidding to help match shoppers with relevant insurance products and providers. The company focuses on insurance categories including auto, home, health and life. Its platform serves carriers, agents, brokers and other insurance distributors, with its business primarily centered on the U.S. market. MediaAlpha became an independent company in 2014 after operating within White Mountains Insurance Group.
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