MediaAlpha, Inc. (NYSE:MAX) Insider Eugene Nonko Sells 72,000 Shares

MediaAlpha, Inc. (NYSE:MAX) insider Eugene Nonko sold 72,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $20.67, for a total transaction of $1,488,240.00. Following the completion of the sale, the insider now owns 1,550,990 shares of the company’s stock, valued at approximately $32,058,963.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

MediaAlpha Stock Down 4.4 %

MAX opened at $16.38 on Friday. MediaAlpha, Inc. has a 52-week low of $8.55 and a 52-week high of $25.78. The company has a 50 day moving average of $18.05 and a two-hundred day moving average of $17.22. 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) last released its quarterly earnings data 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. MediaAlpha had a net margin of 1.41% and a negative return on equity of 11.03%. The company had revenue of $259.13 million during the quarter, compared to the consensus estimate of $246.96 million. Research analysts anticipate that MediaAlpha, Inc. will post 0.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MAX. Point72 DIFC Ltd acquired a new position in shares of MediaAlpha during the second quarter worth $65,000. Sandia Investment Management LP acquired a new position in shares of MediaAlpha during the second quarter worth $79,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MediaAlpha by 354.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,624 shares of the company’s stock worth $114,000 after purchasing an additional 6,728 shares in the last quarter. nVerses Capital LLC acquired a new position in shares of MediaAlpha during the third quarter worth $116,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of MediaAlpha during the second quarter worth $134,000. 64.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MAX. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $26.00 target price (up from $25.00) on shares of MediaAlpha in a report on Thursday, August 1st. The Goldman Sachs Group boosted their target price on shares of MediaAlpha from $20.00 to $26.00 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $25.14.

About MediaAlpha

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.