MediaAlpha (NYSE:MAX) Insider Steven Yi Sells 96,000 Shares

MediaAlpha, Inc. (NYSE:MAX) insider Steven Yi sold 96,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $12.90, for a total value of $1,238,400.00. Following the completion of the sale, the insider directly owned 2,759,690 shares in the company, valued at $35,600,001. This represents a 3.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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, 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.
• 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 shares were 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 stock was 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 shares were sold at an average price of $10.06, for a total transaction 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 transaction of $38,720.00.

MediaAlpha Trading Up 1.9%

Shares of MAX stock traded up $0.24 during mid-day trading on Wednesday, reaching $12.81. The stock had a trading volume of 1,320,780 shares, compared to its average volume of 691,974. The business has a 50-day simple moving average of $9.50 and a 200 day simple moving average of $10.00. MediaAlpha, Inc. has a 12-month low of $7.09 and a 12-month high of $13.92. The company has a market cap of $798.45 million, a P/E ratio of 20.01 and a beta of 1.08.

MediaAlpha (NYSE:MAX) last announced 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 company 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 quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.04) EPS. Research analysts anticipate that MediaAlpha, Inc. will post 0.99 EPS for the current year.

Institutional Investors Weigh In On MediaAlpha

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its holdings in 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 worth $28,000 after purchasing an additional 2,124 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of MediaAlpha by 9,917.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock worth $36,000 after purchasing an additional 2,777 shares in the last quarter. Strs Ohio purchased a new position in MediaAlpha during the fourth quarter valued at approximately $49,000. Quarry LP lifted its position in MediaAlpha by 43.3% in the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock worth $47,000 after buying an additional 1,234 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of MediaAlpha by 28.0% during 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 in the last quarter. 64.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MAX has been the topic of several recent analyst reports. Texas Capital upgraded MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. Wall Street Zen cut shares of MediaAlpha from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. TD Cowen dropped their price objective on MediaAlpha from $13.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, June 23rd. Keefe, Bruyette & Woods cut their target price on MediaAlpha from $16.00 to $15.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Finally, Weiss Ratings cut MediaAlpha from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.36.

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.