MediaAlpha Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NYSE:MAX Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
26 Nov 25	SellUS$197,298	Eugene Nonko	Individual	16,200	US$12.48
12 Aug 25	BuyUS$297,575	Kathy Vrabeck	Individual	31,000	US$9.60
12 Aug 25	SellUS$297,841	Keith Cramer	Individual	29,669	US$11.31

Insider Trading Volume

Insider Buying: MAX insiders have only sold shares in the past 3 months.

Ownership Breakdown

What is the ownership structure of MAX?
Owner Type	Number of Shares	Ownership Percentage
VC/PE Firms	3,234,894	5%
Individual Insiders	13,145,939	20.3%
Public Companies	17,856,614	27.6%
Institutions	30,486,370	47.1%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Top Shareholders

Top 25 shareholders own 95.78% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
31.4%	White Mountains Insurance Group, Ltd.	17,856,614	US$221.2m	0%	100.0%
10.5%	Steven Yi	5,955,803	US$73.8m	-2.33%	no data
10.3%	Eugene Nonko	5,870,532	US$72.7m	-4.57%	no data
6.28%	BlackRock, Inc.	3,573,190	US$44.3m	-10.8%	no data
5.69%	Insignia Capital Group, L.P.	3,234,894	US$40.1m	0%	33.33%
4.57%	The Vanguard Group, Inc.	2,600,621	US$32.2m	-9.04%	no data
2.58%	Broad Bay Capital Management LP	1,468,695	US$18.2m	-41.2%	1.78%
2.51%	Millennium Management LLC	1,429,556	US$17.7m	681%	0.01%
2.27%	Clearline Capital LP	1,290,849	US$16.0m	-9.43%	1.03%
2.14%	The Goldman Sachs Group, Inc.	1,218,167	US$15.1m	0%	no data
1.66%	Renaissance Technologies LLC	945,100	US$11.7m	22.4%	0.01%
1.44%	Morgan Stanley	820,384	US$10.2m	16.2%	no data
1.44%	Jacobs Asset Management, LLC	819,026	US$10.1m	2.55%	4.61%
1.39%	Shay Capital LLC	790,100	US$9.8m	17.9%	1.36%
1.35%	Geode Capital Management, LLC	769,774	US$9.5m	0.66%	no data
1.32%	AQR Capital Management, LLC	749,948	US$9.3m	28.1%	0.01%
1.25%	Victory Capital Management Inc.	710,819	US$8.8m	1,260%	no data
1.18%	State Street Global Advisors, Inc.	672,126	US$8.3m	2.95%	no data
1.08%	Teachers Insurance and Annuity Association-College Retirement Equities Fund	611,600	US$7.6m	-29.7%	no data
0.99%	Jacobs Levy Equity Management Inc	560,765	US$6.9m	19.4%	0.02%
0.93%	J. Goldman & Co., L.P.	531,027	US$6.6m	203%	0.2%
0.92%	Arrowstreet Capital, Limited Partnership	520,452	US$6.4m	7.46%	no data
0.9%	JPMorgan Chase & Co.	510,272	US$6.3m	-5.86%	no data
0.89%	Qube Research & Technologies Ltd	504,342	US$6.2m	-4.18%	0.01%
0.8%	D. E. Shaw & Co., L.P.	454,883	US$5.6m	-49.2%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/01/25 13:20
End of Day Share Price	2026/01/23 00:00
Earnings	2025/09/30
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

MediaAlpha, Inc. is covered by 14 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Michael Zaremski	BMO Capital Markets Equity Research
null null	BMO Capital Markets Equity Research
Michael Graham	Canaccord Genuity