Insider Selling: MediaAlpha (NYSE:MAX) General Counsel Sells $65,800.00 in Stock

MediaAlpha, Inc. (NYSE:MAX) General Counsel Jeffrey Coyne sold 5,000 shares of the firm’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $13.16, for a total transaction of $65,800.00. Following the sale, the general counsel owned 441,783 shares in the company, valued at approximately $5,813,864.28. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

MediaAlpha Stock Performance

Shares of NYSE:MAX opened at $13.00 on Monday. The firm has a market capitalization of $847.01 million, a PE ratio of -433.09 and a beta of 1.21. MediaAlpha, Inc. has a 52-week low of $7.33 and a 52-week high of $13.92. The firm has a fifty day moving average of $12.14 and a 200 day moving average of $11.37.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. MediaAlpha had a negative return on equity of 71.02% and a negative net margin of 0.10%.The firm had revenue of $306.51 million during the quarter, compared to analyst estimates of $283.30 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue was up 18.3% compared to the same quarter last year. On average, sell-side analysts forecast that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MAX. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MediaAlpha in a research note on Monday, December 8th. Keefe, Bruyette & Woods upped their price objective on shares of MediaAlpha from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $15.00 target price on shares of MediaAlpha in a report on Thursday, October 30th. JPMorgan Chase & Co. boosted their price target on shares of MediaAlpha from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Wall Street Zen upgraded MediaAlpha from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.25.

Institutional Investors Weigh In On MediaAlpha

Several institutional investors have recently added to or reduced their stakes in MAX. Quarry LP increased its position in shares of MediaAlpha by 43.3% in the third quarter. Quarry LP now owns 4,087 shares of the company’s stock valued at $47,000 after acquiring an additional 1,234 shares during the period. Tower Research Capital LLC TRC increased its holdings in MediaAlpha by 28.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock valued at $61,000 after purchasing an additional 1,213 shares during the period. Raymond James Financial Inc. bought a new position in MediaAlpha during the 2nd quarter valued at approximately $62,000. Semanteon Capital Management LP purchased a new stake in MediaAlpha in the 2nd quarter worth approximately $110,000. Finally, Pallas Capital Advisors LLC bought a new stake in shares of MediaAlpha in the 2nd quarter worth approximately $111,000. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.