MediaAlpha (NYSE:MAX) Insider Steven Yi Sells 24,000 Shares of Company Stock

MediaAlpha, Inc. (NYSE:MAX) insider Steven Yi sold 24,000 shares of the company’s stock in a transaction dated Thursday, October 8th. The shares were sold at an average price of $10.04, for a total transaction of $240,960.00. Following the completion of the transaction, the insider owned 2,315,740 shares in the company, valued at $23,250,029.60. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available 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 Friday, October 9th, Steven Yi sold 2,033 shares of MediaAlpha stock. The stock was sold at an average price of $11.01, for a total transaction of $22,383.33.
• On Tuesday, September 1st, Steven Yi sold 48,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.38, for a total transaction of $594,240.00.
• 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 transaction of $910,080.00.

MediaAlpha Stock Down 5.3%

Shares of NYSE:MAX opened at $10.12 on Friday. MediaAlpha, Inc. has a 12-month low of $7.09 and a 12-month high of $14.70. The company’s 50 day moving average price is $11.59 and its two-hundred day moving average price is $10.87. The firm has a market cap of $619.64 million, a PE ratio of 6.24 and a beta of 1.14.

MediaAlpha (NYSE:MAX) last released its quarterly earnings results 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. The company had revenue of $316.88 million during the quarter, compared to the consensus estimate of $300.87 million. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. On average, research analysts expect that MediaAlpha, Inc. will post 1.40 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on MAX shares. Canaccord Genuity Group upped their target price on MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. TD Cowen decreased 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. Keefe, Bruyette & Woods boosted their price target on MediaAlpha from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Royal Bank Of Canada upped their price objective on shares of MediaAlpha from $11.00 to $15.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. Finally, Zacks Research upgraded shares of MediaAlpha from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, MediaAlpha has an average rating of “Moderate Buy” and a consensus target price of $14.29.

Institutional Investors Weigh In On MediaAlpha

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clearline Capital LP raised its holdings in shares of 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 buying an additional 10,604 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in MediaAlpha by 24.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company’s stock valued at $9,876,000 after buying an additional 206,077 shares in the last quarter. Jacobs Asset Management LLC grew its position in MediaAlpha by 31.1% in the first quarter. Jacobs Asset Management LLC now owns 924,443 shares of the company’s stock valued at $8,597,000 after acquiring an additional 219,144 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in MediaAlpha by 94.1% during the first quarter. Dimensional Fund Advisors LP now owns 620,669 shares of the company’s stock worth $5,773,000 after acquiring an additional 300,871 shares in the last quarter. Finally, Triad Investment Management raised its stake in MediaAlpha by 10.4% during the second quarter. Triad Investment Management now owns 368,731 shares of the company’s stock worth $4,635,000 after acquiring an additional 34,867 shares in the last quarter. 64.39% of the stock is currently owned by institutional investors.

MediaAlpha Company Profile

MediaAlpha, Inc (NYSE: MAX) operates a technology platform designed to help insurance companies and distributors acquire customers through digital channels. Its platform connects consumers who are shopping for insurance with providers and other distribution partners, using data, analytics and automated transactions to facilitate customer acquisition.

The company’s services primarily support insurance shopping and marketing across categories such as auto, home, health and life insurance.