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

Key Points

• MediaAlpha insider Steven Yi sold 24,000 shares at an average price of $10.04, totaling $240,960. The sale was conducted under a pre-arranged Rule 10b5-1 plan to cover tax withholding on vested equity awards, leaving him with 2.32 million shares.
• MediaAlpha shares fell 5.3% to $10.12, trading near their 50-day average of $11.59 and below the 52-week high of $14.70. The company recently exceeded quarterly earnings and revenue estimates.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $14.29 price target. Institutional investors and hedge funds own approximately 64.39% of the company.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) insider Steven Yi sold 24,000 shares of MediaAlpha stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $10.04, for a total transaction of $240,960.00. Following the transaction, the insider directly owned 2,315,740 shares of the company's stock, valued at approximately $23,250,029.60. This represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 Friday, October 9th, Steven Yi sold 2,033 shares of MediaAlpha stock. The shares were sold at an average price of $11.01, for a total value 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 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 value of $910,080.00.

MediaAlpha Stock Down 5.3%

MAX traded down $0.56 during trading hours on Friday, reaching $10.12. 1,023,517 shares of the company's stock traded hands, compared to its average volume of 1,019,762. The firm has a 50-day moving average price of $11.59 and a 200 day moving average price of $10.87. MediaAlpha, Inc. has a 52-week low of $7.09 and a 52-week high of $14.70. The firm has a market capitalization of $619.64 million, a PE ratio of 6.24 and a beta of 1.14.

MediaAlpha (NYSE:MAX - Get Free Report) last released its 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. The business had revenue of $316.88 million for the quarter, compared to analyst estimates of $300.87 million. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%. Equities analysts predict that MediaAlpha, Inc. will post 1.40 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MAX has been the topic of a number of research reports. JPMorgan Chase & Co. assumed coverage on shares of MediaAlpha in a research report on Monday, August 24th. They set a "neutral" rating and a $15.00 target price on the stock. Keefe, Bruyette & Woods increased their price objective on shares of 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 lifted their price objective on shares of MediaAlpha from $11.00 to $15.00 and gave the company an "outperform" rating in a report on Wednesday, August 5th. Wall Street Zen upgraded MediaAlpha from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Finally, The Goldman Sachs Group increased their target price on MediaAlpha from $10.00 to $14.00 and gave the company a "neutral" rating in a research report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $14.29.

Hedge Funds Weigh In On MediaAlpha

A number of large investors have recently made changes to their positions in MAX. Clearline Capital LP increased its holdings in shares of MediaAlpha by 0.8% during the fourth quarter. Clearline Capital LP now owns 1,301,453 shares of the company's stock valued at $16,854,000 after acquiring an additional 10,604 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in MediaAlpha by 24.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company's stock valued at $9,876,000 after purchasing an additional 206,077 shares in the last quarter. Jacobs Asset Management LLC increased its stake in MediaAlpha by 31.1% during the 1st quarter. Jacobs Asset Management LLC now owns 924,443 shares of the company's stock valued at $8,597,000 after purchasing an additional 219,144 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of MediaAlpha by 94.1% in the first 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 last quarter. Finally, Triad Investment Management grew its holdings in shares of MediaAlpha by 10.4% during the second quarter. Triad Investment Management now owns 368,731 shares of the company's stock valued at $4,635,000 after buying an additional 34,867 shares during the last quarter. 64.39% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.