Insider Selling: MediaAlpha (NYSE:MAX) Insider Sells 8,000 Shares of Stock

MediaAlpha, Inc. (NYSE:MAX) insider Steven Yi sold 8,000 shares of MediaAlpha stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $11.51, for a total value of $92,080.00. Following the completion of the sale, the insider directly owned 2,799,330 shares in the company, valued at $32,220,288.30. This represents a 0.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Wednesday, January 14th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $11.69, for a total value of $93,520.00.
• On Wednesday, January 7th, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $11.66, for a total value of $93,280.00.
• On Monday, January 5th, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $11.98, for a total value of $95,840.00.
• On Wednesday, December 31st, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.94, for a total value of $103,520.00.
• On Monday, December 29th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.65, for a total transaction of $101,200.00.
• On Wednesday, December 24th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.67, for a total transaction of $101,360.00.
• On Monday, December 22nd, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.86, for a total transaction of $102,880.00.
• On Wednesday, December 17th, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.82, for a total transaction of $102,560.00.
• On Monday, December 15th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.88, for a total transaction of $103,040.00.
• On Wednesday, December 10th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $13.50, for a total transaction of $108,000.00.

MediaAlpha Stock Down 1.8%

Shares of NYSE:MAX traded down $0.21 during midday trading on Wednesday, reaching $11.39. The company had a trading volume of 635,655 shares, compared to its average volume of 456,739. MediaAlpha, Inc. has a 1-year low of $7.33 and a 1-year high of $13.92. The stock has a market cap of $742.22 million, a PE ratio of -379.51 and a beta of 1.21. The business’s 50 day moving average price is $12.60 and its 200 day moving average price is $11.64.

MediaAlpha (NYSE:MAX) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.05. The firm had revenue of $306.51 million during the quarter, compared to the consensus estimate of $283.30 million. MediaAlpha had a negative return on equity of 71.02% and a negative net margin of 0.10%.The business’s revenue was up 18.3% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. On average, research analysts expect that MediaAlpha, Inc. will post 0.48 earnings per share for the current fiscal year.

Hedge Funds Weigh In On MediaAlpha

A number of large investors have recently made changes to their positions in MAX. Millennium Management LLC lifted its holdings in MediaAlpha by 680.9% during 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 during the last quarter. JPMorgan Chase & Co. increased its position in MediaAlpha by 95.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,058,441 shares of the company’s stock worth $12,045,000 after buying an additional 516,195 shares during the period. Shay Capital LLC lifted its holdings in shares of MediaAlpha by 17.9% during the third quarter. Shay Capital LLC now owns 790,100 shares of the company’s stock worth $8,991,000 after buying an additional 120,100 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of MediaAlpha by 5.1% during the second quarter. Geode Capital Management LLC now owns 764,702 shares of the company’s stock worth $8,375,000 after buying an additional 36,949 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in shares of MediaAlpha by 1,261.9% in the third quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock valued at $8,089,000 after acquiring an additional 658,625 shares during the period. Institutional investors own 64.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d)” rating on shares of MediaAlpha in a research note on Monday, December 29th. JPMorgan Chase & Co. boosted their price target on MediaAlpha from $14.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Wall Street Zen upgraded MediaAlpha from a “buy” rating to a “strong-buy” rating in a research note on Sunday. The Goldman Sachs Group set a $13.50 target price on MediaAlpha in a research note on Friday, October 31st. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $15.00 price target on shares of MediaAlpha in a research note on Thursday, October 30th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.25.

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.