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

MediaAlpha, Inc. (NYSE:MAX) insider Eugene Nonko sold 72,000 shares of the company’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 sale, the insider now owns 1,550,990 shares in the company, valued at $32,058,963.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

MediaAlpha Stock Performance

NYSE: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 stock has a fifty day moving average of $18.05 and a 200 day moving average of $17.20. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 96.35 and a beta of 1.23.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.04. The firm had revenue of $259.13 million during the quarter, compared to the consensus estimate of $246.96 million. MediaAlpha had a negative return on equity of 11.03% and a net margin of 1.41%. Equities analysts forecast that MediaAlpha, Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On MediaAlpha

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in MediaAlpha by 15.0% in the first quarter. Vanguard Group Inc. now owns 2,119,189 shares of the company’s stock worth $43,168,000 after acquiring an additional 276,641 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of MediaAlpha by 208.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,436,615 shares of the company’s stock worth $18,920,000 after purchasing an additional 970,840 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in shares of MediaAlpha during the 1st quarter valued at about $22,181,000. Divisadero Street Capital Management LP purchased a new position in shares of MediaAlpha during the 2nd quarter valued at about $7,956,000. Finally, Emerald Advisers LLC lifted its position in MediaAlpha by 51,407.5% in the 2nd quarter. Emerald Advisers LLC now owns 598,517 shares of the company’s stock worth $7,882,000 after buying an additional 597,355 shares during the last quarter. Institutional investors own 64.39% of the company’s stock.

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.