MediaAlpha (NYSE:MAX) Insider Sells $910,080.00 in Stock

MediaAlpha, Inc. (NYSE:MAX) insider Steven Yi sold 72,000 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $12.64, for a total value of $910,080.00. Following the sale, the insider owned 2,387,690 shares in the company, valued at approximately $30,180,401.60. This represents a 2.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Steven Yi also recently made the following trade(s):

• On Tuesday, July 7th, Steven Yi sold 26,467 shares of MediaAlpha stock. The shares were sold at an average price of $14.07, for a total value of $372,390.69.
• On Monday, July 6th, Steven Yi sold 17,254 shares of MediaAlpha stock. The stock was sold at an average price of $14.01, for a total value of $241,728.54.
• On Wednesday, July 1st, Steven Yi sold 96,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.90, for a total value of $1,238,400.00.
• On Tuesday, June 16th, Steven Yi sold 24,000 shares of MediaAlpha stock. The shares were sold at an average price of $10.01, for a total value of $240,240.00.

MediaAlpha Trading Up 8.2%

Shares of NYSE:MAX opened at $13.35 on Friday. The company has a 50 day moving average of $11.94 and a 200 day moving average of $10.23. The stock has a market cap of $832.50 million, a P/E ratio of 8.24 and a beta of 1.11. MediaAlpha, Inc. has a 12 month low of $7.09 and a 12 month high of $14.70.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.23 by $0.42. The firm had revenue of $316.88 million during the quarter, compared to the consensus estimate of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. On average, equities analysts forecast that MediaAlpha, Inc. will post 0.97 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MediaAlpha

Hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its position in MediaAlpha by 5,900.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock worth $28,000 after purchasing an additional 2,124 shares during the period. Rockefeller Capital Management L.P. increased its holdings in shares of MediaAlpha by 9,917.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock worth $36,000 after buying an additional 2,777 shares during the period. Quarry LP lifted its stake in shares of MediaAlpha by 43.3% in the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock valued at $47,000 after acquiring an additional 1,234 shares during the last quarter. Strs Ohio purchased a new stake in MediaAlpha during the 4th quarter valued at about $49,000. Finally, Tower Research Capital LLC TRC boosted its holdings in MediaAlpha by 28.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock valued at $61,000 after acquiring an additional 1,213 shares during the period. 64.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MAX shares. Texas Capital upgraded MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. Canaccord Genuity Group boosted their price target on shares of MediaAlpha from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Wall Street Zen raised shares of MediaAlpha from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Capital One Financial set a $11.00 price objective on shares of MediaAlpha in a report on Tuesday, June 9th. Finally, The Goldman Sachs Group increased their target price on MediaAlpha from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $13.86.

MediaAlpha Company Profile

MediaAlpha, Inc is a technology company that operates a real-time digital marketplace for the distribution of insurance and adjacent services. The company’s platform connects buyers—consumers seeking insurance policies—to sellers, including insurance carriers and distribution partners, through programmatic bidding and data-driven pricing. By leveraging transaction-level data and proprietary auction mechanics, MediaAlpha enables carriers to acquire customers more efficiently and at scale.

The firm offers a suite of products that help clients optimize marketing spend and improve conversion rates.