White Mountains subsidiary sells $76.4 million in MediaAlpha stock

White Mountains Insurance Group Ltd., a major shareholder and director of MediaAlpha, Inc., announced the sale of 5.5 million shares of the company's Class A common stock on November 4, 2026. The transaction, valued at $76.4 million, saw the stock being sold at $13.90 per share. The sale was handled by WM Hinson (Bermuda) Ltd., a wholly-owned subsidiary of White Mountains Insurance Group Ltd., to J.P.

Morgan Securities LLC. The share sale was made in compliance with Rule 144 under the Securities Act of 1933. Following this sale, White Mountains Insurance Group indirectly holds 12.36 million shares of MediaAlpha Class A common stock, including 900,000 shares owned directly by the company and 11.456 million shares owned by its subsidiary.

The board of directors and senior officers of White Mountains Insurance Group disclaim beneficial ownership of the securities held by its subsidiary. Analysts consider MediaAlpha to be undervalued, with the stock trading at a price-to-earnings ratio of 7.8. In recent news, MediaAlpha reported strong third-quarter results, surpassing analyst expectations with an adjusted earnings per share of $0.46, compared to the estimated $0.27.

Revenue increased to $375.94 million, a 23% rise from the previous year, and adjusted EBITDA grew by 36%. Investment firm Canaccord raised its price target for MediaAlpha stock to $18, maintaining a Buy rating, citing strong revenue, contribution, and adjusted EBITDA. The company's revenue was driven by a diversified base of customers, with three carriers each contributing over 10% of the total revenue.