MediaAlpha (NYSE:MAX) Insider Steven Yi Sells 48,000 Shares

MediaAlpha, Inc. (NYSE:MAX) insider Steven Yi sold 48,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $12.38, for a total value of $594,240.00. Following the completion of the transaction, the insider directly owned 2,339,740 shares in the company, valued at approximately $28,965,981.20. This represents a 2.01% decrease in their position. The transaction was disclosed in a 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 Monday, August 3rd, Steven Yi sold 72,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.64, for a total value of $910,080.00.
• 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 shares were 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 stock was 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 stock was sold at an average price of $10.01, for a total transaction of $240,240.00.

MediaAlpha Trading Up 1.7%

MAX opened at $12.51 on Thursday. The stock has a market capitalization of $766.06 million, a PE ratio of 7.72 and a beta of 1.16. MediaAlpha, Inc. has a 1-year low of $7.09 and a 1-year high of $14.70. The firm has a 50-day moving average price of $13.13 and a two-hundred day moving average price of $10.63.

MediaAlpha (NYSE:MAX) last announced its earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.42. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. The company had revenue of $316.88 million for the quarter, compared to analyst estimates of $300.87 million. On average, research analysts predict that MediaAlpha, Inc. will post 1.13 EPS for the current year.

Hedge Funds Weigh In On MediaAlpha

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC grew its holdings in MediaAlpha by 680.9% during the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock worth $16,268,000 after acquiring an additional 1,246,493 shares during the period. Victory Capital Management Inc. lifted its stake in shares of MediaAlpha by 1,261.9% in the 3rd quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock valued at $8,089,000 after purchasing an additional 658,625 shares during the period. Lazard Asset Management LLC bought a new position in shares of MediaAlpha in the 2nd quarter worth $4,268,000. Lighthouse Investment Partners LLC boosted its position in shares of MediaAlpha by 831.7% in the 3rd quarter. Lighthouse Investment Partners LLC now owns 353,930 shares of the company’s stock worth $4,028,000 after purchasing an additional 315,943 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of MediaAlpha by 29.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company’s stock worth $17,714,000 after purchasing an additional 309,455 shares during the last quarter. 64.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Capital One Financial set a $11.00 price objective on MediaAlpha in a research report on Tuesday, June 9th. TD Cowen dropped their target price on MediaAlpha from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, June 23rd. The Goldman Sachs Group upped their price target on MediaAlpha from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Canaccord Genuity Group raised their price target on MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, JPMorgan Chase & Co. started coverage on MediaAlpha in a research report on Monday, August 24th. They issued a “neutral” rating and a $15.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, MediaAlpha has a consensus rating of “Moderate Buy” and an average target price of $14.29.

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.