Insider Selling: MediaAlpha (NYSE:MAX) Insider Sells 2,033 Shares of Company Stock

Key Points

• MediaAlpha insider Steven Yi sold 2,033 shares at an average price of $11.01, totaling $22,383.33. The Rule 10b5-1 sale covered tax withholding tied to vested equity awards, leaving him with 2,313,707 shares.
• Yi has also sold 144,000 shares in three earlier transactions since August, totaling approximately $1.75 million, indicating continued insider selling.
• MediaAlpha shares closed at $10.12, while analysts maintain a “Moderate Buy” consensus with an average price target of $14.29. The company recently exceeded quarterly earnings and revenue expectations.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) insider Steven Yi sold 2,033 shares of the stock in a transaction on Friday, October 9th. The shares were sold at an average price of $11.01, for a total value of $22,383.33. Following the completion of the transaction, the insider directly owned 2,313,707 shares in the company, valued at approximately $25,473,914.07. This represents a 0.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 Thursday, October 8th, Steven Yi sold 24,000 shares of MediaAlpha stock. The shares were sold at an average price of $10.04, for a total transaction of $240,960.00.
• On Tuesday, September 1st, Steven Yi sold 48,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.38, for a total value of $594,240.00.
• On Monday, August 3rd, Steven Yi sold 72,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.64, for a total transaction of $910,080.00.

MediaAlpha Price Performance

MAX traded down $0.56 during trading on Friday, hitting $10.12. 1,023,517 shares of the stock traded hands, compared to its average volume of 1,019,762. The firm has a market capitalization of $619.64 million, a P/E ratio of 6.24 and a beta of 1.14. MediaAlpha, Inc. has a 12-month low of $7.09 and a 12-month high of $14.70. The firm has a 50-day moving average of $11.59 and a 200 day moving average of $10.87.

MediaAlpha (NYSE:MAX - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.65 EPS 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 during the quarter, compared to analyst estimates of $300.87 million. As a group, equities analysts predict that MediaAlpha, Inc. will post 1.40 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MAX. Keefe, Bruyette & Woods boosted their price target on MediaAlpha from $15.00 to $17.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 8th. Wall Street Zen upgraded shares of MediaAlpha from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 1st. Royal Bank Of Canada lifted their price objective on MediaAlpha from $11.00 to $15.00 and gave the stock an "outperform" rating in a report on Wednesday, August 5th. Zacks Research upgraded shares of MediaAlpha from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 22nd. Finally, Weiss Ratings upgraded MediaAlpha from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday. Two 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $14.29.

Institutional Trading of MediaAlpha

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rockefeller Capital Management L.P. raised its holdings in shares of MediaAlpha by 9,917.9% during the 4th 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 in the last quarter. SG Americas Securities LLC boosted its position in shares of MediaAlpha by 23.2% during the first quarter. SG Americas Securities LLC now owns 19,473 shares of the company's stock valued at $181,000 after buying an additional 3,668 shares during the period. State of Wyoming boosted its holdings in MediaAlpha by 10.7% during the 1st quarter. State of Wyoming now owns 43,001 shares of the company's stock valued at $400,000 after acquiring an additional 4,169 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of MediaAlpha by 11.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 47,885 shares of the company's stock worth $435,000 after purchasing an additional 4,935 shares during the last quarter. Finally, Corient Private Wealth LP grew its stake in MediaAlpha by 50.7% in the 2nd quarter. Corient Private Wealth LP now owns 23,451 shares of the company's stock worth $295,000 after acquiring an additional 7,892 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.

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