MediaAlpha (NYSE:MAX) Insider Steven Yi Sells 72,000 Shares of Stock

Key Points

• MediaAlpha insider Steven Yi sold 72,000 shares at an average price of $12.64, generating $910,080. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, was intended to cover tax withholding on vested equity awards and reduced his holdings by 2.93%.
• MediaAlpha shares fell 0.9% to $12.27, while the company reported quarterly EPS of $0.65 and revenue of $316.88 million, exceeding analysts’ estimates.
• Analysts maintain a consensus “Moderate Buy” rating with a $13.86 price target; institutional investors own approximately 64.39% of the company.

MediaAlpha, Inc. (NYSE:MAX - Get Free Report) insider Steven Yi sold 72,000 shares of the business's stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $12.64, for a total transaction of $910,080.00. Following the completion of the transaction, the insider directly owned 2,387,690 shares of the company's stock, valued at $30,180,401.60. The trade was a 2.93% 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 Tuesday, July 7th, Steven Yi sold 26,467 shares of MediaAlpha stock. The shares were 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 stock was sold at an average price of $14.01, for a total transaction of $241,728.54.
• On Wednesday, July 1st, Steven Yi sold 96,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.90, for a total transaction 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 transaction of $240,240.00.

MediaAlpha Stock Down 0.9%

Shares of NYSE:MAX traded down $0.11 during trading on Wednesday, reaching $12.27. The stock had a trading volume of 1,379,455 shares, compared to its average volume of 795,902. The business has a fifty day moving average price of $11.71 and a 200-day moving average price of $10.20. The stock has a market cap of $764.79 million, a P/E ratio of 7.57 and a beta of 1.11. MediaAlpha, Inc. has a fifty-two week low of $7.09 and a fifty-two week high of $14.70.

MediaAlpha (NYSE:MAX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.42. MediaAlpha had a net margin of 7.94% and a negative return on equity of 301.42%. The business had revenue of $316.88 million for the quarter, compared to the consensus estimate of $300.87 million. As a group, equities analysts forecast that MediaAlpha, Inc. will post 0.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MAX. Wall Street Zen upgraded MediaAlpha from a "buy" rating to a "strong-buy" rating in a report on Saturday. Weiss Ratings upgraded MediaAlpha from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, July 1st. Texas Capital upgraded MediaAlpha to a "strong-buy" rating in a research note on Tuesday, June 9th. Canaccord Genuity Group increased their target price on MediaAlpha from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, Capital One Financial set a $11.00 price target on MediaAlpha in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.86.

Hedge Funds Weigh In On MediaAlpha

A number of large investors have recently bought and sold shares of the stock. Millennium Management LLC raised its position in shares of MediaAlpha by 680.9% in the 3rd 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 during the period. JPMorgan Chase & Co. increased its stake in MediaAlpha by 29.2% during the fourth 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 during the last quarter. Clearline Capital LP increased its stake in MediaAlpha by 0.8% during the fourth 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 during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in MediaAlpha by 24.1% during the first 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 raised its holdings in shares of MediaAlpha by 10.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,045,400 shares of the company's stock worth $13,538,000 after purchasing an additional 100,300 shares during the period. Hedge funds and other institutional investors own 64.39% of the company's stock.

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.

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