Insider Selling: MediaAlpha (NYSE:MAX) Insider Sells 72,000 Shares

MediaAlpha, Inc. (NYSE:MAX) insider Steven Yi sold 72,000 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $12.64, for a total transaction of $910,080.00. Following the completion of the transaction, the insider owned 2,387,690 shares in the company, valued at $30,180,401.60. The trade was a 2.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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, 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 transaction of $372,390.69.
• On Monday, July 6th, Steven Yi sold 17,254 shares of MediaAlpha stock. The stock was 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 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 shares were sold at an average price of $10.01, for a total transaction of $240,240.00.

MediaAlpha Stock Down 0.9%

Shares of MAX stock traded down $0.11 during mid-day trading on Wednesday, reaching $12.27. The company’s stock had a trading volume of 1,379,455 shares, compared to its average volume of 795,902. The firm has a market capitalization of $764.79 million, a PE ratio of 7.57 and a beta of 1.11. The company’s 50 day simple moving average is $11.71 and its 200-day simple moving average is $10.20. MediaAlpha, Inc. has a 12-month low of $7.09 and a 12-month high of $14.70.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share 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 firm had revenue of $316.88 million during the quarter, compared to analysts’ expectations of $300.87 million. As a group, research analysts anticipate that MediaAlpha, Inc. will post 0.97 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MAX. Texas Capital raised MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. Capital One Financial set a $11.00 target price on MediaAlpha in a report on Tuesday, June 9th. Canaccord Genuity Group boosted their price target on MediaAlpha from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. The Goldman Sachs Group upped their price target on MediaAlpha from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Finally, Royal Bank Of Canada increased their price objective on shares of MediaAlpha from $11.00 to $15.00 and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.86.

Institutional Investors Weigh In On MediaAlpha

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its holdings in MediaAlpha by 5,900.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock worth $28,000 after buying an additional 2,124 shares in the last quarter. Rockefeller Capital Management L.P. increased its position in shares of MediaAlpha by 9,917.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock worth $36,000 after acquiring an additional 2,777 shares during the last quarter. Quarry LP increased its position in shares of MediaAlpha by 43.3% during the third quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after acquiring an additional 1,234 shares during the last quarter. Strs Ohio purchased a new stake in shares of MediaAlpha during the fourth quarter worth about $49,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of MediaAlpha by 28.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock worth $61,000 after acquiring an additional 1,213 shares in the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

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.