Insider Selling: MediaAlpha (NYSE:MAX) Insider Sells $1,238,400.00 in Stock

MediaAlpha, Inc. (NYSE:MAX) insider Steven Yi sold 96,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $12.90, for a total value of $1,238,400.00. Following the transaction, the insider owned 2,759,690 shares of the company’s stock, valued at approximately $35,600,001. This trade represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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.

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

• On Tuesday, June 16th, Steven Yi sold 24,000 shares of MediaAlpha stock. The stock was sold at an average price of $10.01, for a total transaction of $240,240.00.
• On Wednesday, May 6th, Steven Yi sold 4,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.14, for a total transaction of $36,560.00.
• On Monday, May 4th, Steven Yi sold 4,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.05, for a total transaction of $36,200.00.
• On Wednesday, April 29th, Steven Yi sold 26,739 shares of MediaAlpha stock. The shares were sold at an average price of $10.00, for a total transaction of $267,390.00.
• On Tuesday, April 28th, Steven Yi sold 6,565 shares of MediaAlpha stock. The shares were sold at an average price of $10.00, for a total transaction of $65,650.00.
• On Monday, April 27th, Steven Yi sold 33,663 shares of MediaAlpha stock. The stock was sold at an average price of $9.99, for a total transaction of $336,293.37.
• On Wednesday, April 22nd, Steven Yi sold 4,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.88, for a total transaction of $39,520.00.
• On Tuesday, April 21st, Steven Yi sold 16,047 shares of MediaAlpha stock. The shares were sold at an average price of $10.08, for a total transaction of $161,753.76.
• On Monday, April 20th, Steven Yi sold 28,543 shares of MediaAlpha stock. The stock was sold at an average price of $10.06, for a total transaction of $287,142.58.
• On Wednesday, April 15th, Steven Yi sold 4,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.68, for a total transaction of $38,720.00.

MediaAlpha Stock Performance

NYSE:MAX opened at $13.53 on Friday. The company has a market capitalization of $843.28 million, a price-to-earnings ratio of 21.13 and a beta of 1.08. MediaAlpha, Inc. has a one year low of $7.09 and a one year high of $13.92. The stock has a 50-day simple moving average of $9.65 and a 200 day simple moving average of $10.03.

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

Hedge Funds Weigh In On MediaAlpha

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. TD Cowen dropped their price target on MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a research report on Tuesday, June 23rd. Wall Street Zen downgraded shares of MediaAlpha from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings raised shares of MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday. Keefe, Bruyette & Woods lowered their target price on shares of MediaAlpha from $16.00 to $15.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Finally, JPMorgan Chase & Co. increased their target price on shares of MediaAlpha from $11.00 to $12.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.36.

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.