MediaAlpha (NYSE:MAX) Insider Steven Yi Sells 4,000 Shares

MediaAlpha, Inc. (NYSE:MAX) insider Steven Yi sold 4,000 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $9.34, for a total transaction of $37,360.00. Following the completion of the transaction, the insider owned 3,027,247 shares of the company’s stock, valued at approximately $28,274,486.98. The trade was a 0.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 Wednesday, April 8th, Steven Yi sold 4,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.78, for a total transaction of $39,120.00.
• On Wednesday, April 1st, Steven Yi sold 4,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.15, for a total transaction of $36,600.00.
• On Monday, March 30th, Steven Yi sold 4,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.23, for a total transaction of $36,920.00.
• On Wednesday, March 25th, Steven Yi sold 4,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.42, for a total transaction of $37,680.00.
• On Monday, March 23rd, Steven Yi sold 4,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.67, for a total transaction of $38,680.00.
• On Wednesday, March 18th, Steven Yi sold 4,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.59, for a total transaction of $38,360.00.
• On Tuesday, March 17th, Steven Yi sold 5,227 shares of MediaAlpha stock. The shares were sold at an average price of $9.94, for a total transaction of $51,956.38.
• On Monday, March 16th, Steven Yi sold 4,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.93, for a total transaction of $39,720.00.
• On Tuesday, March 10th, Steven Yi sold 4,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.75, for a total transaction of $39,000.00.
• On Monday, March 9th, Steven Yi sold 5,650 shares of MediaAlpha stock. The shares were sold at an average price of $9.86, for a total transaction of $55,709.00.

MediaAlpha Stock Up 1.6%

Shares of NYSE MAX opened at $9.71 on Thursday. The firm’s 50-day moving average price is $9.20 and its 200-day moving average price is $11.05. The company has a market cap of $626.10 million, a PE ratio of 24.89 and a beta of 1.39. MediaAlpha, Inc. has a 52-week low of $7.09 and a 52-week high of $13.92.

MediaAlpha (NYSE:MAX) last announced its quarterly earnings results on Monday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.25. The firm had revenue of $291.16 million for the quarter, compared to the consensus estimate of $296.42 million. MediaAlpha had a net margin of 2.30% and a negative return on equity of 132.73%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.08 EPS. As a group, equities research analysts anticipate that MediaAlpha, Inc. will post 0.48 EPS for the current fiscal year.

Institutional Investors Weigh In On MediaAlpha

Several hedge funds have recently bought and sold shares of the stock. Millennium Management LLC boosted its position in 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 purchasing an additional 1,246,493 shares in the last quarter. JPMorgan Chase & Co. raised its stake in MediaAlpha by 29.2% in the 4th 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 last quarter. Clearline Capital LP raised its stake in MediaAlpha by 0.8% in the 4th 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 last quarter. Renaissance Technologies LLC increased its stake in shares of MediaAlpha by 10.6% in the 4th 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. Finally, AQR Capital Management LLC increased its stake in shares of MediaAlpha by 4.3% in the 4th quarter. AQR Capital Management LLC now owns 804,095 shares of the company’s stock worth $10,413,000 after acquiring an additional 33,416 shares during the last quarter. Hedge funds and other institutional investors own 64.39% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Zacks Research cut shares of MediaAlpha from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 25th. Keefe, Bruyette & Woods cut their target price on shares of MediaAlpha from $16.00 to $15.00 and set an “outperform” rating for the company in a report on Tuesday. Weiss Ratings raised shares of MediaAlpha from a “sell (d)” rating to a “hold (c-)” rating in a research note on Wednesday, February 25th. Royal Bank Of Canada dropped their price objective on shares of MediaAlpha from $18.00 to $11.00 and set an “outperform” rating for the company in a research note on Tuesday, February 24th. Finally, The Goldman Sachs Group lowered their target price on shares of MediaAlpha from $13.50 to $11.50 and set a “neutral” rating for the company in a research note on Tuesday, February 24th. Four investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, MediaAlpha currently has an average rating of “Moderate Buy” and a consensus price target of $12.70.

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.