MediaAlpha, Inc. (NYSE:MAX – Get Free Report) CRO Keith Cramer sold 13,000 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $8.05, for a total value of $104,650.00. Following the completion of the sale, the executive directly owned 293,528 shares of the company’s stock, valued at $2,362,900.40. The trade was a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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.
Keith Cramer also recently made the following trade(s):
- On Wednesday, April 15th, Keith Cramer sold 10,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.68, for a total value of $96,800.00.
- On Monday, March 16th, Keith Cramer sold 10,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.89, for a total value of $98,900.00.
MediaAlpha Stock Down 0.3%
NYSE MAX traded down $0.03 on Tuesday, reaching $8.26. The company had a trading volume of 660,287 shares, compared to its average volume of 757,399. The stock has a market capitalization of $515.20 million, a P/E ratio of 12.91 and a beta of 1.16. The company’s fifty day moving average is $9.43 and its 200 day moving average is $10.68. MediaAlpha, Inc. has a 52-week low of $7.09 and a 52-week high of $13.92.
Analysts Set New Price Targets
MAX has been the subject of a number of recent analyst reports. The Goldman Sachs Group reduced 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 downgraded MediaAlpha from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 25th. Keefe, Bruyette & Woods reduced their price objective on MediaAlpha from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Royal Bank Of Canada reduced their price objective on MediaAlpha from $18.00 to $11.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Finally, JPMorgan Chase & Co. upped their price objective on MediaAlpha from $11.00 to $12.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, MediaAlpha presently has an average rating of “Moderate Buy” and a consensus price target of $12.90.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC grew its stake in shares of MediaAlpha by 2.3% during the 2nd quarter. Hsbc Holdings PLC now owns 51,550 shares of the company’s stock worth $561,000 after acquiring an additional 1,144 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of MediaAlpha by 28.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock worth $61,000 after acquiring an additional 1,213 shares during the period. Quarry LP grew its stake in shares of MediaAlpha by 43.3% during the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after acquiring an additional 1,234 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of MediaAlpha by 13.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,757 shares of the company’s stock worth $140,000 after acquiring an additional 1,510 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of MediaAlpha by 5,900.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock worth $28,000 after acquiring an additional 2,124 shares during the period. Institutional investors own 64.39% of the company’s stock.
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.
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