Insider Selling: MediaAlpha, Inc. (NYSE:MAX) Insider Sells 72,000 Shares of Stock

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) insider Eugene Nonko sold 72,000 shares of the firm's stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $20.67, for a total value of $1,488,240.00. Following the completion of the sale, the insider now directly owns 1,550,990 shares of the company's stock, valued at $32,058,963.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

MediaAlpha Trading Down 4.4 %

Shares of MediaAlpha stock traded down $0.75 on Friday, reaching $16.38. The stock had a trading volume of 1,297,558 shares, compared to its average volume of 559,612. The business's 50 day moving average is $18.05 and its two-hundred day moving average is $17.22. MediaAlpha, Inc. has a 1 year low of $8.55 and a 1 year high of $25.78. The company has a market cap of $1.09 billion, a P/E ratio of 96.35 and a beta of 1.22.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.04. The business had revenue of $259.13 million for the quarter, compared to analysts' expectations of $246.96 million. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.03%. On average, equities analysts anticipate that MediaAlpha, Inc. will post 0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On MediaAlpha

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its stake in MediaAlpha by 5.1% in the 2nd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 23,890 shares of the company's stock worth $315,000 after buying an additional 1,150 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in MediaAlpha by 9.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 14,321 shares of the company's stock worth $292,000 after acquiring an additional 1,235 shares in the last quarter. Hsbc Holdings PLC increased its stake in MediaAlpha by 7.1% in the second quarter. Hsbc Holdings PLC now owns 23,791 shares of the company's stock valued at $312,000 after acquiring an additional 1,582 shares during the last quarter. Silvercrest Asset Management Group LLC increased its stake in MediaAlpha by 0.4% in the first quarter. Silvercrest Asset Management Group LLC now owns 375,509 shares of the company's stock valued at $7,649,000 after acquiring an additional 1,667 shares during the last quarter. Finally, Rhumbline Advisers raised its position in MediaAlpha by 7.3% during the second quarter. Rhumbline Advisers now owns 36,751 shares of the company's stock valued at $484,000 after purchasing an additional 2,511 shares in the last quarter. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and set a $26.00 price objective (up from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. The Goldman Sachs Group raised their price objective on shares of MediaAlpha from $20.00 to $26.00 and gave the stock a "buy" rating in a report on Friday. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, MediaAlpha has a consensus rating of "Moderate Buy" and an average price target of $25.14.

MediaAlpha Company Profile

MediaAlpha, Inc, through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.

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