MediaAlpha, Inc. (NYSE:MAX – Get Free Report) CRO Keith Cramer sold 13,000 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $12.76, for a total transaction of $165,880.00. Following the transaction, the executive directly owned 264,303 shares of the company’s stock, valued at $3,372,506.28. The trade was a 4.69% decrease in their ownership of the stock. The transaction was disclosed in a 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 Monday, June 15th, Keith Cramer sold 13,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.47, for a total transaction of $123,110.00.
MediaAlpha Stock Down 4.0%
MAX stock traded down $0.53 during mid-day trading on Monday, hitting $12.64. The company had a trading volume of 537,009 shares, compared to its average volume of 941,328. The company has a 50-day moving average price of $12.44 and a 200 day moving average price of $10.31. MediaAlpha, Inc. has a 12-month low of $7.09 and a 12-month high of $14.70. The company has a market capitalization of $774.33 million, a price-to-earnings ratio of 7.80 and a beta of 1.11.
Analyst Ratings Changes
MAX has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on MediaAlpha from $11.00 to $12.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Capital One Financial set a $11.00 price objective on MediaAlpha in a report on Tuesday, June 9th. Weiss Ratings upgraded MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, July 1st. TD Cowen cut their target price on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, June 23rd. Finally, Texas Capital upgraded shares of MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $13.86.
View Our Latest Research Report on MediaAlpha
Institutional Investors Weigh In On MediaAlpha
Several institutional investors have recently modified their holdings of MAX. Millennium Management LLC increased its stake in MediaAlpha by 680.9% in the third 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 during the period. Victory Capital Management Inc. boosted its stake 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 purchasing an additional 658,625 shares during the period. Lazard Asset Management LLC bought a new position in shares of MediaAlpha in the second quarter worth about $4,268,000. Lighthouse Investment Partners LLC grew its holdings in shares of 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 purchasing an additional 315,943 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in MediaAlpha by 29.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company’s stock worth $17,714,000 after buying an additional 309,455 shares during the period. 64.39% of the stock is owned by institutional investors.
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.
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