Insider Selling: MediaAlpha (NYSE:MAX) Insider Sells 8,000 Shares of Stock

MediaAlpha, Inc. (NYSE:MAX) insider Steven Yi sold 8,000 shares of the firm’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $12.86, for a total value of $102,880.00. Following the transaction, the insider directly owned 2,871,330 shares in the company, valued at approximately $36,925,303.80. This represents a 0.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Steven Yi also recently made the following trade(s):

• On Wednesday, December 24th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.67, for a total value of $101,360.00.
• On Wednesday, December 17th, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.82, for a total transaction of $102,560.00.
• On Monday, December 15th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.88, for a total transaction of $103,040.00.
• On Wednesday, December 10th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $13.50, for a total transaction of $108,000.00.
• On Monday, December 8th, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $13.07, for a total transaction of $104,560.00.
• On Wednesday, December 3rd, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $13.37, for a total transaction of $106,960.00.
• On Monday, December 1st, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.60, for a total transaction of $100,800.00.
• On Wednesday, November 26th, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.48, for a total transaction of $99,840.00.
• On Monday, November 24th, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $11.88, for a total value of $95,040.00.
• On Wednesday, November 19th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $11.72, for a total value of $93,760.00.

MediaAlpha Stock Up 0.8%

Shares of NYSE MAX traded up $0.11 during midday trading on Monday, reaching $12.80. The company had a trading volume of 297,097 shares, compared to its average volume of 522,371. The stock has a market cap of $833.85 million, a PE ratio of -426.36 and a beta of 1.21. MediaAlpha, Inc. has a one year low of $7.33 and a one year high of $13.92. The firm’s fifty day moving average price is $12.52 and its 200-day moving average price is $11.53.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.05. MediaAlpha had a negative return on equity of 71.02% and a negative net margin of 0.10%.The business had revenue of $306.51 million for the quarter, compared to analyst estimates of $283.30 million. During the same period last year, the company earned $0.17 EPS. MediaAlpha’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, equities research analysts expect that MediaAlpha, Inc. will post 0.48 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MAX shares. The Goldman Sachs Group set a $13.50 price target on shares of MediaAlpha in a report on Friday, October 31st. JPMorgan Chase & Co. raised their target price on MediaAlpha from $14.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Zacks Research upgraded MediaAlpha from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. Canaccord Genuity Group reiterated a “buy” rating and issued a $15.00 price objective on shares of MediaAlpha in a report on Thursday, October 30th. Finally, Wall Street Zen upgraded MediaAlpha from a “hold” rating to a “strong-buy” rating in a research report on Saturday, November 1st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, MediaAlpha presently has a consensus rating of “Moderate Buy” and an average price target of $17.25.

Hedge Funds Weigh In On MediaAlpha

Institutional investors have recently bought and sold shares of the stock. Clearline Capital LP lifted its holdings in MediaAlpha by 123.4% in the first quarter. Clearline Capital LP now owns 2,654,921 shares of the company’s stock worth $24,531,000 after buying an additional 1,466,760 shares during the period. 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 acquiring an additional 1,246,493 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of MediaAlpha by 1,261.9% in the 3rd quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock valued at $8,089,000 after purchasing an additional 658,625 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of MediaAlpha by 95.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company’s stock valued at $12,045,000 after purchasing an additional 516,195 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of MediaAlpha during the second quarter valued at approximately $4,268,000. 64.39% of the stock is owned by institutional investors.

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.