Insider Selling: MediaAlpha (NYSE:MAX) CTO Sells $36,000.00 in Stock

MediaAlpha, Inc. (NYSE:MAX) CTO Kuanling Yeh sold 3,000 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $12.00, for a total transaction of $36,000.00. Following the transaction, the chief technology officer directly owned 549,091 shares in the company, valued at $6,589,092. The trade was a 0.54% decrease in their ownership of the stock. The transaction was disclosed in a legal 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.

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

• On Friday, August 14th, Kuanling Yeh sold 12,000 shares of MediaAlpha stock. The shares were sold at an average price of $13.55, for a total value of $162,600.00.
• On Friday, June 26th, Kuanling Yeh sold 3,000 shares of MediaAlpha stock. The stock was sold at an average price of $11.16, for a total value of $33,480.00.

MediaAlpha Stock Performance

MAX opened at $11.65 on Friday. The company has a market cap of $713.73 million, a PE ratio of 7.19 and a beta of 1.16. The stock has a 50-day moving average of $13.03 and a 200-day moving average of $10.82. MediaAlpha, Inc. has a 52-week low of $7.09 and a 52-week high of $14.70.

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MAX. Creative Planning bought a new stake in MediaAlpha in the 2nd quarter valued at $168,000. JPMorgan Chase & Co. grew its position in MediaAlpha by 75.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 542,246 shares of the company’s stock worth $5,938,000 after purchasing an additional 233,948 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of MediaAlpha by 29.3% during the 2nd quarter. Legal & General Group Plc now owns 36,315 shares of the company’s stock worth $398,000 after purchasing an additional 8,229 shares during the period. Rhumbline Advisers lifted its stake in shares of MediaAlpha by 34.4% in the second quarter. Rhumbline Advisers now owns 55,622 shares of the company’s stock valued at $609,000 after buying an additional 14,234 shares during the period. Finally, XTX Topco Ltd acquired a new stake in MediaAlpha during the second quarter worth about $153,000. 64.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MAX has been the subject of a number of analyst reports. Keefe, Bruyette & Woods boosted their price objective on shares of MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 8th. TD Cowen lowered their target price on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Tuesday, June 23rd. Zacks Research upgraded shares of MediaAlpha from a “strong sell” rating to a “hold” rating in a report on Monday, August 24th. Capital One Financial set a $11.00 target price on shares of MediaAlpha in a research report on Tuesday, June 9th. Finally, Texas Capital raised shares of MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, MediaAlpha currently has an average rating of “Moderate Buy” and a consensus price target of $14.29.

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.