MediaAlpha (NYSE:MAX) Insider Sells $240,240.00 in Stock

Key Points

• MediaAlpha insider Steven Yi sold 24,000 shares on June 16 at an average price of $10.01, for a total of $240,240. The sale was disclosed in an SEC filing and was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to equity award vesting.
• The company’s stock rose 1.2% to $10.14 in Thursday trading, with a market cap of about $632.35 million. The shares are trading near their 200-day moving average and remain well below the 52-week high of $13.92.
• MediaAlpha’s latest earnings missed EPS estimates but beat revenue expectations, reporting $0.21 per share versus $0.25 expected and revenue of $310 million versus $298.91 million expected. Analysts currently have a consensus rating of Moderate Buy with a target price of $12.58.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) insider Steven Yi sold 24,000 shares of the stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $10.01, for a total value of $240,240.00. Following the transaction, the insider directly owned 2,855,690 shares in the company, valued at approximately $28,585,456.90. This represents a 0.83% decrease in their position. The sale was disclosed in a legal 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 Wednesday, May 6th, Steven Yi sold 4,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.14, for a total value of $36,560.00.
• On Monday, May 4th, Steven Yi sold 4,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.05, for a total transaction of $36,200.00.
• On Wednesday, April 29th, Steven Yi sold 26,739 shares of MediaAlpha stock. The stock was sold at an average price of $10.00, for a total transaction of $267,390.00.
• On Tuesday, April 28th, Steven Yi sold 6,565 shares of MediaAlpha stock. The stock was sold at an average price of $10.00, for a total transaction of $65,650.00.
• On Monday, April 27th, Steven Yi sold 33,663 shares of MediaAlpha stock. The shares were sold at an average price of $9.99, for a total transaction of $336,293.37.
• On Wednesday, April 22nd, Steven Yi sold 4,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.88, for a total transaction of $39,520.00.
• On Tuesday, April 21st, Steven Yi sold 16,047 shares of MediaAlpha stock. The shares were sold at an average price of $10.08, for a total value of $161,753.76.
• On Monday, April 20th, Steven Yi sold 28,543 shares of MediaAlpha stock. The stock was sold at an average price of $10.06, for a total value of $287,142.58.
• On Wednesday, April 15th, Steven Yi sold 4,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.68, for a total value of $38,720.00.
• On Monday, April 13th, Steven Yi sold 4,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.07, for a total value of $36,280.00.

MediaAlpha Trading Up 1.2%

MAX traded up $0.12 during midday trading on Thursday, reaching $10.14. The company's stock had a trading volume of 575,241 shares, compared to its average volume of 719,922. The stock has a market cap of $632.35 million, a P/E ratio of 15.85 and a beta of 1.16. The company has a fifty day simple moving average of $9.18 and a 200 day simple moving average of $10.14. MediaAlpha, Inc. has a twelve month low of $7.09 and a twelve month high of $13.92.

MediaAlpha (NYSE:MAX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.04). MediaAlpha had a negative return on equity of 147.82% and a net margin of 3.37%.The business had revenue of $310.00 million for the quarter, compared to analyst estimates of $298.91 million. During the same quarter last year, the firm earned ($0.04) earnings per share. The firm's quarterly revenue was up 17.3% compared to the same quarter last year. Sell-side analysts expect that MediaAlpha, Inc. will post 1.02 earnings per share for the current year.

Institutional Trading of MediaAlpha

Several institutional investors have recently bought and sold shares of MAX. Millennium Management LLC increased its holdings in shares of MediaAlpha by 680.9% during the third quarter. Millennium Management LLC now owns 1,429,556 shares of the company's stock worth $16,268,000 after buying an additional 1,246,493 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of MediaAlpha by 29.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company's stock worth $17,714,000 after acquiring an additional 309,455 shares in the last quarter. Clearline Capital LP boosted its holdings in shares of MediaAlpha by 0.8% in the 4th quarter. Clearline Capital LP now owns 1,301,453 shares of the company's stock worth $16,854,000 after acquiring an additional 10,604 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in MediaAlpha by 24.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,061,981 shares of the company's stock worth $9,876,000 after acquiring an additional 206,077 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in MediaAlpha by 10.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,045,400 shares of the company's stock worth $13,538,000 after acquiring an additional 100,300 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MAX. Keefe, Bruyette & Woods reduced their price target on shares of MediaAlpha from $16.00 to $15.00 and set an "outperform" rating for the company in a report on Tuesday, April 7th. The Goldman Sachs Group dropped their price objective on shares of MediaAlpha from $13.50 to $11.50 and set a "neutral" rating on the stock in a report on Tuesday, February 24th. Zacks Research lowered shares of MediaAlpha from a "hold" rating to a "strong sell" rating in a research report on Tuesday, May 19th. Capital One Financial set a $11.00 target price on shares of MediaAlpha in a research note on Tuesday, June 9th. Finally, Royal Bank Of Canada decreased their target price on MediaAlpha from $18.00 to $11.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.58.

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.

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.