MAX

MediaAlpha, Inc.

Communication Services · $494M market cap

Share price

$9.62

close of Oct 3, 2026

Fair value

$11.69

Sticker Price

Payback Price

$4.68

buy price

Undervalued

MAX is Undervalued: at $9.62 it trades 18% below its fair value of $11.69. Its buy price (Payback Price) is $4.68, 51% below today's price. Business quality is strong: 4 of 5 key numbers clear the 10% bar.

How we valued it

Buffett Normalized. A profitable, growing business, so we project its earnings 10 years ahead and work out what that is worth today.

Business quality

4 of 5 clear the 10% bar. What are the Big Five?

Earnings per share growth33.4% a year✓

Equity per share growth65.0% a year✓

Sales growth15.4% a year✓

Free cash flow growth10.9% a year✓

Return on invested capital-8.1%✗

Follow MAX

Get notified when it reaches its buy price of $4.68. Free.

Create a free account

Insider activity

Since Jun 22, 2026: no open-market purchases, 88 sales worth $13.8M and 12 other filings (stock awards, tax withholding and similar). Why purchases matter

Sales

Nonko Eugene

director · 2026-09-10

Sold

$85K

Nonko Eugene

director · 2026-09-10

Sold

$22K

Nonko Eugene

director · 2026-09-09

Sold

$83K

Nonko Eugene

director · 2026-09-09

Sold

$23K

Nonko Eugene

director · 2026-09-08

Sold

$85K

Show all 88 sales

Nonko Eugene

director · 2026-09-08

Sold

$23K

Yeh Kuanling Amy

Chief Technology Officer · 2026-09-04

Sold

$36K

Nonko Eugene

director · 2026-09-02

Sold

$95K

Nonko Eugene

director · 2026-09-02

Sold

$33K

Nonko Eugene

director · 2026-09-01

Sold

$96K

Nonko Eugene

director · 2026-09-01

Sold

$33K

Yi Steven

See Remarks · 2026-09-01

Sold

$594K

Nonko Eugene

director · 2026-08-31

Sold

$98K

Nonko Eugene

director · 2026-08-31

Sold

$34K

Nonko Eugene

director · 2026-08-26

Sold

$33K

Nonko Eugene

director · 2026-08-26

Sold

$98K

Nonko Eugene

director · 2026-08-25

Sold

$42K

Nonko Eugene

director · 2026-08-25

Sold

$106K

Nonko Eugene

director · 2026-08-24

Sold

$43K

Nonko Eugene

director · 2026-08-24

Sold

$107K

Nonko Eugene

director · 2026-08-19

Sold

$43K

Nonko Eugene

director · 2026-08-19

Sold

$109K

Nonko Eugene

director · 2026-08-18

Sold

$42K

Nonko Eugene

director · 2026-08-18

Sold

$106K

Cramer Keith

Chief Revenue Officer · 2026-08-17

Sold

$166K

Nonko Eugene

director · 2026-08-17

Sold

$42K

Nonko Eugene

director · 2026-08-17

Sold

$105K

Yeh Kuanling Amy

Chief Technology Officer · 2026-08-14

Sold

$163K

Nonko Eugene

director · 2026-08-12

Sold

$42K

Nonko Eugene

director · 2026-08-12

Sold

$105K

Nonko Eugene

director · 2026-08-11

Sold

$44K

Nonko Eugene

director · 2026-08-11

Sold

$109K

Nonko Eugene

director · 2026-08-10

Sold

$44K

Nonko Eugene

director · 2026-08-10

Sold

$111K

Nonko Eugene

director · 2026-08-05

Sold

$33K

Nonko Eugene

director · 2026-08-05

Sold

$96K

Nonko Eugene

director · 2026-08-04

Sold

$33K

Nonko Eugene

director · 2026-08-04

Sold

$97K

Yi Steven

See Remarks · 2026-08-03

Sold

$910K

Nonko Eugene

director · 2026-08-03

Sold

$41K

Nonko Eugene

director · 2026-08-03

Sold

$102K

Nonko Eugene

director · 2026-07-29

Sold

$70K

Nonko Eugene

director · 2026-07-29

Sold

$134K

Nonko Eugene

director · 2026-07-28

Sold

$92K

Nonko Eugene

director · 2026-07-28

Sold

$149K

Nonko Eugene

director · 2026-07-27

Sold

$44K

Nonko Eugene

director · 2026-07-27

Sold

$109K

Nonko Eugene

director · 2026-07-22

Sold

$68K

Nonko Eugene

director · 2026-07-22

Sold

$131K

Nonko Eugene

director · 2026-07-21

Sold

$71K

Nonko Eugene

director · 2026-07-21

Sold

$136K

Nonko Eugene

director · 2026-07-20

Sold

$69K

Nonko Eugene

director · 2026-07-20

Sold

$132K

Yeh Kuanling Amy

Chief Technology Officer · 2026-07-17

Sold

$42K

Yi Steven

See Remarks · 2026-07-17

Sold

$175K

Yeh Kuanling Amy

Chief Technology Officer · 2026-07-16

Sold

$145K

Yi Steven

See Remarks · 2026-07-16

Sold

$1.2M

Cramer Keith

Chief Revenue Officer · 2026-07-15

Sold

$184K

Yi Steven

See Remarks · 2026-07-15

Sold

$1.6M

Nonko Eugene

director · 2026-07-15

Sold

$69K

Nonko Eugene

director · 2026-07-15

Sold

$135K

Yi Steven

See Remarks · 2026-07-14

Sold

$530K

Nonko Eugene

director · 2026-07-14

Sold

$69K

Nonko Eugene

director · 2026-07-14

Sold

$132K

Yi Steven

See Remarks · 2026-07-13

Sold

$133K

Nonko Eugene

director · 2026-07-13

Sold

$91K

Nonko Eugene

director · 2026-07-13

Sold

$149K

Nonko Eugene

director · 2026-07-08

Sold

$45K

Nonko Eugene

director · 2026-07-08

Sold

$112K

Nonko Eugene

director · 2026-07-07

Sold

$70K

Nonko Eugene

director · 2026-07-07

Sold

$134K

Yi Steven

See Remarks · 2026-07-07

Sold

$372K

Nonko Eugene

director · 2026-07-06

Sold

$348K

Nonko Eugene

director · 2026-07-06

Sold

$351K

Yi Steven

See Remarks · 2026-07-06

Sold

$242K

Yi Steven

See Remarks · 2026-07-01

Sold

$1.2M

Nonko Eugene

director · 2026-07-01

Sold

$58K

Nonko Eugene

director · 2026-07-01

Sold

$116K

Nonko Eugene

director · 2026-06-30

Sold

$33K

Nonko Eugene

director · 2026-06-30

Sold

$97K

Nonko Eugene

director · 2026-06-29

Sold

$32K

Nonko Eugene

director · 2026-06-29

Sold

$93K

Yeh Kuanling Amy

Chief Technology Officer · 2026-06-26

Sold

$33K

Nonko Eugene

director · 2026-06-24

Sold

$11K

Nonko Eugene

director · 2026-06-24

Sold

$70K

Nonko Eugene

director · 2026-06-23

Sold

$11K

Nonko Eugene

director · 2026-06-23

Sold

$68K

Nonko Eugene

director · 2026-06-22

Sold

$68K

Other filings

Yeh Kuanling Amy

Chief Technology Officer · 2026-08-15

Option exercise

5,303 shares

Yeh Kuanling Amy

Chief Technology Officer · 2026-08-15

Option exercise

4,803 shares

Cramer Keith

Chief Revenue Officer · 2026-08-15

Option exercise

5,303 shares

Cramer Keith

Chief Revenue Officer · 2026-08-15

Option exercise

4,472 shares

Thompson Patrick Ryan

See Remarks · 2026-08-15

Tax withholding

$82K

Show all 12 other filings

Thompson Patrick Ryan

See Remarks · 2026-08-15

Tax withholding

$110K

Thompson Patrick Ryan

See Remarks · 2026-08-15

Tax withholding

$58K

Thompson Patrick Ryan

See Remarks · 2026-08-15

Tax withholding

$69K

COYNE JEFFREY B

GENERAL COUNSEL AND SECRETARY · 2026-08-15

Tax withholding

$56K

COYNE JEFFREY B

GENERAL COUNSEL AND SECRETARY · 2026-08-15

Tax withholding

$69K

COYNE JEFFREY B

GENERAL COUNSEL AND SECRETARY · 2026-08-15

Tax withholding

$33K

COYNE JEFFREY B

GENERAL COUNSEL AND SECRETARY · 2026-08-15

Tax withholding

$29K

About MediaAlpha, Inc.

MediaAlpha, Inc. (MAX) runs a dedicated platform in the United States designed to enhance customer acquisition within the insurance sector. It specializes in streamlining the process of attracting new clients across various insurance segments, including property and casualty, health, and life coverage. The company was established in 2014, is based in Los Angeles, California, and functions as a subsidiary of White…

Internet Content & Information

Fair value and Payback Price are estimates from the company's reported financials, not investment advice. Prices as of the close of Oct 3, 2026. How the Payback Price works

Verdict

How we valued it

Business quality

Insider activity

Sales

Other filings

About MediaAlpha, Inc.