Kuanling Amy Yeh Sells 3,000 Shares of MediaAlpha (NYSE:MAX) Stock

MediaAlpha, Inc. (NYSE:MAX) CTO Kuanling Amy Yeh sold 3,000 shares of the company’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $11.16, for a total transaction of $33,480.00. Following the transaction, the chief technology officer directly owned 566,985 shares in the company, valued at approximately $6,327,552.60. This trade represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.

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

• 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 transaction of $26,670.00.
• On Friday, May 15th, Kuanling Amy Yeh sold 12,000 shares of MediaAlpha stock. The stock was sold at an average price of $8.05, for a total transaction of $96,600.00.
• On Friday, April 10th, Kuanling Amy Yeh sold 3,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.25, for a total transaction of $27,750.00.

MediaAlpha Trading Up 8.1%

Shares of MediaAlpha stock opened at $11.90 on Friday. The company has a 50-day moving average of $9.35 and a two-hundred day moving average of $10.04. MediaAlpha, Inc. has a 12-month low of $7.09 and a 12-month high of $13.92. The stock has a market cap of $741.72 million, a PE ratio of 18.59 and a beta of 1.16.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.04). MediaAlpha had a negative return on equity of 147.82% and a net margin of 3.37%.The firm had revenue of $310.00 million for the quarter, compared to analysts’ expectations of $298.91 million. During the same period last year, the firm earned ($0.04) EPS. MediaAlpha’s revenue was up 17.3% compared to the same quarter last year. On average, sell-side analysts forecast that MediaAlpha, Inc. will post 0.99 EPS for the current fiscal year.

Hedge Funds Weigh In On MediaAlpha

Several institutional investors have recently added to or reduced their stakes in MAX. Millennium Management LLC lifted its position in MediaAlpha by 680.9% during the third 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 shares of MediaAlpha by 29.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company’s stock valued at $17,714,000 after acquiring an additional 309,455 shares during the last quarter. Clearline Capital LP lifted its holdings in shares of MediaAlpha by 0.8% during the 4th 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 period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of MediaAlpha by 24.1% during the 1st 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 period. Finally, Renaissance Technologies LLC boosted its position in shares of MediaAlpha by 10.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,045,400 shares of the company’s stock worth $13,538,000 after acquiring an additional 100,300 shares during the last quarter. 64.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MAX has been the topic of several recent research reports. Texas Capital upgraded shares of MediaAlpha to a “strong-buy” rating in a research report on Tuesday, June 9th. Zacks Research downgraded shares of MediaAlpha from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. JPMorgan Chase & Co. lifted their target price on shares of MediaAlpha from $11.00 to $12.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings lowered shares of MediaAlpha from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, June 16th. Finally, TD Cowen dropped their price objective on shares of MediaAlpha from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $12.36.

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.