MediaAlpha (NYSE:MAX) Insider Sells $372,390.69 in Stock

Key Points

• MediaAlpha insider Steven Yi sold 26,467 shares on July 7 for about $372,391 at an average price of $14.07. The filing says the sale was made under a pre-arranged Rule 10b5-1 plan to cover tax withholding tied to vesting equity awards.
• Yi has been selling shares frequently in recent weeks, including additional sales on July 6 and July 1. Across the listed transactions, the insider has trimmed holdings while still owning more than 2.7 million shares.
• MediaAlpha stock has been near its 52-week high, trading around $13.55, after reaching a year-high of $14.39. The company recently reported quarterly revenue above expectations but missed on earnings per share, while analysts currently rate the stock a “Moderate Buy” on average.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) insider Steven Yi sold 26,467 shares of the business's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $14.07, for a total transaction of $372,390.69. Following the sale, the insider directly owned 2,715,969 shares in the company, valued at $38,213,683.83. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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, 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.
• 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 transaction 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 shares were 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 shares were sold at an average price of $10.00, for a total value of $65,650.00.
• On Monday, April 27th, Steven Yi sold 33,663 shares of MediaAlpha stock. The stock was sold at an average price of $9.99, for a total value of $336,293.37.
• On Wednesday, April 22nd, Steven Yi sold 4,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.88, for a total value 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 transaction of $161,753.76.

MediaAlpha Price Performance

MAX stock traded down $0.12 during midday trading on Wednesday, hitting $13.55. 974,432 shares of the stock traded hands, compared to its average volume of 755,246. The firm has a market cap of $844.66 million, a P/E ratio of 21.17 and a beta of 1.08. The stock's fifty day simple moving average is $9.89 and its 200-day simple moving average is $10.03. MediaAlpha, Inc. has a 1-year low of $7.09 and a 1-year high of $14.39.

MediaAlpha (NYSE:MAX - Get Free Report) last posted its 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). The business had revenue of $310.00 million for the quarter, compared to analyst estimates of $298.91 million. MediaAlpha had a net margin of 3.37% and a negative return on equity of 147.82%. MediaAlpha's revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.04) earnings per share. On average, research analysts predict that MediaAlpha, Inc. will post 0.97 earnings per share for the current year.

Institutional Investors Weigh In On MediaAlpha

Several institutional investors and hedge funds have recently added to or reduced their stakes in MAX. Caitong International Asset Management Co. Ltd raised its position in shares of MediaAlpha by 5,900.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company's stock valued at $28,000 after buying an additional 2,124 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in MediaAlpha by 9,917.9% during the fourth 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 during the last quarter. Strs Ohio purchased a new stake in MediaAlpha during the 4th quarter valued at about $49,000. Quarry LP raised its holdings in MediaAlpha by 43.3% in the 3rd quarter. Quarry LP now owns 4,087 shares of the company's stock valued at $47,000 after acquiring an additional 1,234 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in MediaAlpha by 28.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company's stock valued at $61,000 after acquiring an additional 1,213 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of MediaAlpha from a "buy" rating to a "hold" rating in a report on Saturday. Zacks Research downgraded shares of MediaAlpha from a "hold" rating to a "strong sell" rating in a report on Tuesday, May 19th. JPMorgan Chase & Co. upped their price target on shares of MediaAlpha from $11.00 to $12.00 and gave the stock an "overweight" rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods raised their price target on shares of MediaAlpha from $15.00 to $17.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, TD Cowen lowered their price objective on MediaAlpha from $13.00 to $11.00 and set a "hold" rating on the stock in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $12.64.

About MediaAlpha

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.