MediaAlpha, Inc. (NYSE: MAX) entered into an agreement on November 11, 2026, to repurchase 1,130,000 shares of its Class A common stock from an affiliate of White Mountains Insurance Group, Ltd. (WTM). The transaction, valued at approximately $16.0 million, closed on November 12, 2026.
The shares were purchased at a price of $14.15 per share. According to the company’s press release, this price represents a discount of approximately 5.5% to the closing price of MediaAlpha’s stock on November 11, 2026. The repurchased shares will be canceled and retired.
White Mountains has been an investor in MediaAlpha since 2014 and is currently the company’s largest stockholder. Following the transaction, White Mountains owns approximately 11.3 million shares of MediaAlpha’s Class A common stock, representing about 19% of the total outstanding shares.
MediaAlpha’s Board of Directors approved the transaction in accordance with the company’s Policy and Procedures Governing Related Person Transactions. The company funded the payment using cash balances from its subsidiaries and borrowings under its secured revolving credit facility.
MediaAlpha stated that including this transaction, it has repurchased $131 million of its stock since July 2025, which amounts to approximately 18% of its shares outstanding at that time. The company indicated that stock repurchases will remain a part of its capital allocation strategy for the foreseeable future.
