Insider Selling: MediaAlpha (NYSE:MAX) Insider Sells $594,240.00 in Stock

MediaAlpha, Inc. (NYSE:MAX) insider Steven Yi sold 48,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $12.38, for a total transaction of $594,240.00. Following the sale, the insider owned 2,339,740 shares in the company, valued at approximately $28,965,981.20. This trade represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a 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.

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

• On Monday, August 3rd, Steven Yi sold 72,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.64, for a total value of $910,080.00.
• On Tuesday, July 7th, Steven Yi sold 26,467 shares of MediaAlpha stock. The stock was 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 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 transaction of $240,240.00.

MediaAlpha Price Performance

Shares of NYSE:MAX opened at $12.02 on Friday. MediaAlpha, Inc. has a 12 month low of $7.09 and a 12 month high of $14.70. The firm has a market capitalization of $736.35 million, a P/E ratio of 7.42 and a beta of 1.16. The company’s fifty day moving average price is $13.16 and its 200 day moving average price is $10.67.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.42. MediaAlpha had a negative return on equity of 301.42% and a net margin of 7.94%.The business had revenue of $316.88 million during the quarter, compared to the consensus estimate of $300.87 million. On average, sell-side analysts anticipate that MediaAlpha, Inc. will post 1.13 EPS for the current year.

Wall Street Analyst Weigh In

MAX has been the subject of a number of research analyst reports. Canaccord Genuity Group increased their target price on shares of MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, July 30th. JPMorgan Chase & Co. initiated coverage on MediaAlpha in a report on Monday, August 24th. They issued a “neutral” rating and a $15.00 price target on the stock. Texas Capital raised MediaAlpha to a “strong-buy” rating in a research note on Tuesday, June 9th. Keefe, Bruyette & Woods lifted their price objective on MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Finally, Royal Bank Of Canada lifted their price objective on MediaAlpha from $11.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.29.

Institutional Trading of MediaAlpha

A number of hedge funds have recently bought and sold shares of MAX. Millennium Management LLC increased its stake in shares of MediaAlpha by 680.9% during the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock valued at $16,268,000 after acquiring an additional 1,246,493 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in MediaAlpha by 29.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company’s stock valued at $17,714,000 after purchasing an additional 309,455 shares during the period. Clearline Capital LP grew its holdings in MediaAlpha by 0.8% in the fourth quarter. Clearline Capital LP now owns 1,301,453 shares of the company’s stock valued at $16,854,000 after purchasing an additional 10,604 shares during the period. Arrowstreet Capital Limited Partnership increased its position 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 purchasing an additional 206,077 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in MediaAlpha by 10.6% during the fourth 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 last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

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.