MediaAlpha (NYSE:MAX) Insider Sells $372,390.69 in Stock

MediaAlpha, Inc. (NYSE:MAX) insider Steven Yi sold 26,467 shares of MediaAlpha stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $14.07, for a total value of $372,390.69. Following the transaction, the insider owned 2,715,969 shares in the company, valued at approximately $38,213,683.83. The trade was a 0.97% 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.

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

• On Monday, July 6th, Steven Yi sold 17,254 shares of MediaAlpha stock. The shares were sold at an average price of $14.01, for a total transaction 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 transaction 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 transaction of $240,240.00.
• On Wednesday, May 6th, Steven Yi sold 4,000 shares of MediaAlpha stock. The shares were 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 value of $36,200.00.
• On Wednesday, April 29th, Steven Yi sold 26,739 shares of MediaAlpha stock. The stock was sold at an average price of $10.00, for a total value 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 value 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 value of $336,293.37.
• On Wednesday, April 22nd, Steven Yi sold 4,000 shares of MediaAlpha stock. The shares were 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.

MediaAlpha Price Performance

Shares of NYSE:MAX traded down $0.12 during mid-day trading on Wednesday, reaching $13.55. 974,432 shares of the company were exchanged, compared to its average volume of 755,246. MediaAlpha, Inc. has a 1 year low of $7.09 and a 1 year high of $14.39. The firm’s 50-day simple moving average is $9.89 and its 200 day simple moving average is $10.03. The firm has a market cap of $844.66 million, a price-to-earnings ratio of 21.17 and a beta of 1.08.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.21 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 for the quarter, compared to analyst estimates of $298.91 million. During the same quarter last year, the company earned ($0.04) earnings per share. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, research analysts forecast that MediaAlpha, Inc. will post 0.97 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MediaAlpha

Several hedge funds and other institutional investors have recently made changes to their positions in MAX. Millennium Management LLC grew its position in shares of MediaAlpha by 680.9% during the third quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock worth $16,268,000 after buying an additional 1,246,493 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in MediaAlpha by 29.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company’s stock worth $17,714,000 after acquiring an additional 309,455 shares during the last quarter. Clearline Capital LP grew its holdings in MediaAlpha by 0.8% during the 4th quarter. Clearline Capital LP now owns 1,301,453 shares of the company’s stock worth $16,854,000 after acquiring an additional 10,604 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in MediaAlpha by 24.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company’s stock worth $9,876,000 after acquiring an additional 206,077 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of MediaAlpha by 10.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,045,400 shares of the company’s stock valued at $13,538,000 after purchasing an additional 100,300 shares during the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on MAX shares. Capital One Financial set a $11.00 price target on shares of MediaAlpha in a research note on Tuesday, June 9th. Wall Street Zen cut shares of MediaAlpha from a “buy” rating to a “hold” rating in a report on Saturday. Texas Capital raised shares of MediaAlpha to a “strong-buy” rating in a research note on Tuesday, June 9th. Weiss Ratings upgraded shares of MediaAlpha from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, July 1st. Finally, TD Cowen decreased their price target on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.64.

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.