MediaAlpha (NYSE:MAX) Insider Sells $594,240.00 in Stock

Key Points

• MediaAlpha insider Steven Yi sold 48,000 shares at an average price of $12.38, generating $594,240. The transaction was conducted under a pre-arranged Rule 10b5-1 plan to cover tax withholding, leaving him with 2,339,740 shares.
• MediaAlpha shares traded at $12.51, with a market capitalization of approximately $766 million; the stock’s 52-week range is $7.09 to $14.70. The company’s latest quarterly earnings significantly exceeded expectations, reporting $0.65 in EPS versus the $0.23 consensus and revenue of $316.88 million.
• Analyst sentiment remains moderately positive, with a consensus rating of “Moderate Buy” and an average price target of $14.29. Institutional investors own 64.39% of the company, with several major funds increasing their positions.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) insider Steven Yi sold 48,000 shares of the firm's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $12.38, for a total transaction of $594,240.00. Following the completion of the transaction, the insider directly owned 2,339,740 shares of the company's stock, valued at approximately $28,965,981.20. This trade represents a 2.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed 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 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.
• On Tuesday, July 7th, Steven Yi sold 26,467 shares of MediaAlpha stock. The stock was 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 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 shares were sold at an average price of $12.90, for a total value 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 value of $240,240.00.

MediaAlpha Stock Performance

NYSE MAX traded up $0.20 during trading hours on Wednesday, hitting $12.51. 333,012 shares of the company traded hands, compared to its average volume of 767,876. The business's 50-day moving average is $13.09 and its 200-day moving average is $10.59. The stock has a market capitalization of $766.11 million, a price-to-earnings ratio of 7.72 and a beta of 1.16. MediaAlpha, Inc. has a twelve month low of $7.09 and a twelve month high of $14.70.

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

Hedge Funds Weigh In On MediaAlpha

Large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of MediaAlpha by 94.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 620,669 shares of the company's stock worth $5,773,000 after buying an additional 300,871 shares during the period. Bank of America Corp DE raised its holdings in MediaAlpha by 380.9% in the 1st quarter. Bank of America Corp DE now owns 279,704 shares of the company's stock valued at $2,601,000 after acquiring an additional 221,540 shares during the period. Jacobs Asset Management LLC raised its holdings in MediaAlpha by 31.1% in the 1st 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 period. Principal Financial Group Inc. lifted its position in MediaAlpha by 288.7% during the first quarter. Principal Financial Group Inc. now owns 137,613 shares of the company's stock worth $1,280,000 after acquiring an additional 102,210 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its position in MediaAlpha by 150.9% during the first quarter. Quantinno Capital Management LP now owns 107,274 shares of the company's stock worth $998,000 after acquiring an additional 64,526 shares during the last quarter. 64.39% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MAX has been the subject of a number of recent analyst reports. TD Cowen cut their price target on shares of MediaAlpha from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Tuesday, June 23rd. Royal Bank Of Canada upped their target price on shares of MediaAlpha from $11.00 to $15.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. The Goldman Sachs Group raised their target price on shares of MediaAlpha from $10.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, July 30th. Capital One Financial set a $11.00 price target on MediaAlpha in a report on Tuesday, June 9th. Finally, Zacks Research raised MediaAlpha from a "strong sell" rating to a "hold" rating in a research report on Monday, August 24th. One investment 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.

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