Insider Cluster (2 insiders) ·Filed Sep 23, 2026
Insider cluster: 2 insiders, $161K total
Actionable Insight • Neutral
The dollar amount is too small to signal material non-public information. Monitor next earnings for any business deterioration, but this cluster alone does not warrant action.
Latest settled — T+20d
MAX ▲ +31.32% at T+20d
NEUTRAL call +31.32% · α vs SPY +31.74% · entry $9.45 → $12.41
Latest observation: T+21 +36.17% FF3 residual α
T+1d
-1.90%
call -1.90% · α -2.45%
$9.27
settled 5w ago
T+5d
+2.43%
call +2.43% · α +2.85%
$9.68
settled 27d ago
T+20d
+31.32%
call +31.32% · α +31.74%
$12.41
settled 6d ago
T+60d
Pending
in 7w
Price Chart
Loading chart...
Executive Summary
Two MediaAlpha insiders, including the Chief Revenue Officer, sold a combined $161K in shares over a week. The CRO's $149K sale is the dominant trade, while the director's $12K sale is routine. Relative to a ~$326M market cap, the cluster represents ~0.05% of market cap, falling below the 0.1% materiality threshold.
Key Financial Metrics
Direction
selling
Total Value
$161.0K
Insiders
2
Key Facts
- Chief Revenue Officer Cramer Keith sold 13,000 shares for $149K on 2026-09-15
- Director Nonko Eugene sold 1,100 shares for $12K on 2026-09-22
- Total cluster value of $161K is ~0.05% of market cap, well below the 0.1% materiality threshold
- No 10b5-1 plan indication in the data; sales are open-market (code S)
- No insider purchases were reported in this window
Financial Impact
~0.05% of market cap sold, trivial
insider holdings
Risk Factors
- Insider selling could accelerate if business fundamentals weaken
- CRO selling may be liquidity-driven or part of a pre-arranged plan not flagged in the data
Investment Themes
Software & IT
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-MAX-1790207539615 |
39 reports for MAX
73% Hit rate @ T+20 Went positive at some point 10 of 12 best @ T+60▲ +28.53%
Filters
Rows
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 today | 144 | — | awaiting T+20 | — | — |
Oct 21, 2026 4d ago | Insider Cluster | $12.41 | awaiting T+20 | — | $11.90 (−4.11%) |
Oct 13, 2026 13d ago | 144 | $10.47 | awaiting T+20 | — | $11.90 (−13.66%) |
Oct 8, 2026 18d ago | 144 | $10.09 | awaiting T+20 | — | $11.90 (+17.94%) |
Sep 23, 2026 4w ago | Insider Cluster | $9.45 $12.41 | ▲ +31.32% | ▲ +31.74% | $11.90 (+25.93%) |
Sep 16, 2026 5w ago | Insider Cluster | $10.57 $11.68 | ▼ −10.50% | ▼ −9.30% | $11.90 (−12.58%) |
Sep 10, 2026 6w ago | Insider Cluster | $11.65 $10.09 | ▲ +13.39% | ▲ +15.26% | $11.90 (−2.15%) |
Sep 9, 2026 6w ago | Insider Cluster | $11.74 $10.68 | ▼ −9.03% | ▼ −11.15% | $11.90 (+1.36%) |
Sep 3, 2026 7w ago | 8-K / PRESS-RELEASE | $12.22 $9.62 | ▼ −21.28% | ▼ −20.09% | $11.90 (−2.62%) |
Sep 2, 2026 7w ago | Insider Cluster | $12.22 $9.62 | ▼ −21.28% | ▼ −20.09% | $11.90 (−2.62%) |
Showing 10 of 39
US Market Status
Market Closed — Opens Wed (11h 55m)
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers