MediaAlpha (NYSE:MAX) CTO Sells 12,000 Shares

MediaAlpha, Inc. (NYSE:MAX) CTO Kuanling Amy Yeh sold 12,000 shares of MediaAlpha stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $13.55, for a total transaction of $162,600.00. Following the completion of the transaction, the chief technology officer directly owned 541,985 shares in the company, valued at $7,343,896.75. This trade represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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.

Kuanling Amy Yeh also recently made the following trade(s):

• On Friday, June 26th, Kuanling Amy Yeh sold 3,000 shares of MediaAlpha stock. The stock was sold at an average price of $11.16, for a total value of $33,480.00.
• On Friday, June 5th, Kuanling Amy Yeh sold 3,000 shares of MediaAlpha stock. The shares were sold at an average price of $8.89, for a total value of $26,670.00.

MediaAlpha Stock Down 4.0%

Shares of MAX stock traded down $0.53 during trading hours on Monday, reaching $12.64. The company’s stock had a trading volume of 537,009 shares, compared to its average volume of 941,328. MediaAlpha, Inc. has a fifty-two week low of $7.09 and a fifty-two week high of $14.70. The firm’s 50 day simple moving average is $12.44 and its 200-day simple moving average is $10.31. The company has a market capitalization of $774.33 million, a price-to-earnings ratio of 7.80 and a beta of 1.11.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.42. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%.The company had revenue of $316.88 million during the quarter, compared to analysts’ expectations of $300.87 million. Sell-side analysts predict that MediaAlpha, Inc. will post 0.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Canaccord Genuity Group increased their target price on shares of MediaAlpha from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Capital One Financial set a $11.00 price target on shares of MediaAlpha in a report on Tuesday, June 9th. Royal Bank Of Canada increased their price objective on shares of MediaAlpha from $11.00 to $15.00 and gave the company an “outperform” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group raised their target price on shares of MediaAlpha from $10.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, July 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of MediaAlpha from $11.00 to $12.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. 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 given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.86.

Institutional Investors Weigh In On MediaAlpha

Several hedge funds have recently added to or reduced their stakes in MAX. Globeflex Capital L P acquired a new position in MediaAlpha in the 2nd quarter valued at approximately $702,000. Glenmede Trust Co. NA bought a new stake in shares of MediaAlpha in the first quarter worth $122,000. Bank of America Corp DE grew its stake in shares of MediaAlpha by 380.9% in the first quarter. Bank of America Corp DE now owns 279,704 shares of the company’s stock worth $2,601,000 after purchasing an additional 221,540 shares during the last quarter. Amundi increased its holdings in MediaAlpha by 33.2% in the first quarter. Amundi now owns 78,104 shares of the company’s stock valued at $726,000 after purchasing an additional 19,488 shares during the period. Finally, Stoic Point Capital Management LLC increased its holdings in MediaAlpha by 6.6% in the first quarter. Stoic Point Capital Management LLC now owns 221,041 shares of the company’s stock valued at $2,056,000 after purchasing an additional 13,743 shares during the period. 64.39% of the stock is currently owned by institutional investors and hedge funds.

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.