MediaAlpha (NYSE:MAX) CTO Sells $33,480.00 in Stock

MediaAlpha, Inc. (NYSE:MAX) CTO Kuanling Amy Yeh sold 3,000 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $11.16, for a total transaction of $33,480.00. Following the completion of the sale, the chief technology officer directly owned 566,985 shares of the company’s stock, valued at approximately $6,327,552.60. The trade was a 0.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.

Kuanling Amy Yeh also recently made the following trade(s):

• On Friday, June 5th, Kuanling Amy Yeh sold 3,000 shares of MediaAlpha stock. The stock was sold at an average price of $8.89, for a total transaction of $26,670.00.
• On Friday, May 15th, Kuanling Amy Yeh sold 12,000 shares of MediaAlpha stock. The shares were sold at an average price of $8.05, for a total transaction of $96,600.00.
• On Friday, April 10th, Kuanling Amy Yeh sold 3,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.25, for a total value of $27,750.00.

MediaAlpha Stock Up 8.1%

Shares of MediaAlpha stock traded up $0.90 during mid-day trading on Friday, reaching $11.90. 1,396,914 shares of the stock traded hands, compared to its average volume of 728,413. The business has a 50-day moving average of $9.30 and a 200 day moving average of $10.03. MediaAlpha, Inc. has a fifty-two week low of $7.09 and a fifty-two week high of $13.92. The stock has a market capitalization of $741.72 million, a PE ratio of 18.59 and a beta of 1.16.

MediaAlpha (NYSE:MAX) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). MediaAlpha had a negative return on equity of 147.82% and a net margin of 3.37%.The firm had revenue of $310.00 million during the quarter, compared to analyst estimates of $298.91 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The business’s revenue was up 17.3% on a year-over-year basis. On average, equities research analysts expect that MediaAlpha, Inc. will post 0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On MediaAlpha

A number of hedge funds have recently modified their holdings of MAX. Creative Planning purchased a new stake in MediaAlpha in the 2nd quarter valued at about $168,000. JPMorgan Chase & Co. increased its position in shares of MediaAlpha by 75.9% during the second quarter. JPMorgan Chase & Co. now owns 542,246 shares of the company’s stock valued at $5,938,000 after acquiring an additional 233,948 shares during the last quarter. Legal & General Group Plc increased its position in shares of MediaAlpha by 29.3% during the second quarter. Legal & General Group Plc now owns 36,315 shares of the company’s stock valued at $398,000 after acquiring an additional 8,229 shares during the last quarter. Rhumbline Advisers raised its stake in shares of MediaAlpha by 34.4% in the 2nd quarter. Rhumbline Advisers now owns 55,622 shares of the company’s stock valued at $609,000 after acquiring an additional 14,234 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of MediaAlpha in the 2nd quarter worth approximately $153,000. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on MAX. Texas Capital upgraded MediaAlpha to a “strong-buy” rating in a report on Tuesday, June 9th. Weiss Ratings downgraded MediaAlpha from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Keefe, Bruyette & Woods dropped their price objective on shares of MediaAlpha from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday, April 7th. Capital One Financial set a $11.00 target price on shares of MediaAlpha in a research note on Tuesday, June 9th. Finally, TD Cowen decreased their target price on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, MediaAlpha has a consensus rating of “Moderate Buy” and a consensus price target of $12.36.

About MediaAlpha

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.