MediaAlpha (NYSE:MAX) Stock: Insider Steven Yi Sells 2,033 Shares

MediaAlpha, Inc. (NYSE:MAX) insider Steven Yi sold 2,033 shares of the stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $11.01, for a total transaction of $22,383.33. Following the sale, the insider directly owned 2,313,707 shares of the company’s stock, valued at approximately $25,473,914.07. The trade was a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 Thursday, October 8th, Steven Yi sold 24,000 shares of MediaAlpha stock. The stock was sold at an average price of $10.04, for a total transaction of $240,960.00.
• On Tuesday, September 1st, Steven Yi sold 48,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.38, for a total transaction of $594,240.00.
• On Monday, August 3rd, Steven Yi sold 72,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.64, for a total transaction of $910,080.00.

MediaAlpha Stock Performance

MAX stock traded down $0.56 during trading on Friday, reaching $10.12. The company had a trading volume of 1,023,517 shares, compared to its average volume of 1,019,762. MediaAlpha, Inc. has a twelve month low of $7.09 and a twelve month high of $14.70. The firm has a 50-day simple moving average of $11.59 and a 200-day simple moving average of $10.87. The company has a market cap of $619.64 million, a price-to-earnings ratio of 6.24 and a beta of 1.14.

MediaAlpha (NYSE:MAX) last released its earnings results on Wednesday, July 29th. The company reported $0.65 earnings per share (EPS) 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 firm had revenue of $316.88 million for the quarter, compared to the consensus estimate of $300.87 million. Sell-side analysts expect that MediaAlpha, Inc. will post 1.40 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on MAX. Royal Bank Of Canada upped their price target on MediaAlpha from $11.00 to $15.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Canaccord Genuity Group raised their price target on shares of MediaAlpha from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. TD Cowen lowered their target price on MediaAlpha from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, June 23rd. Keefe, Bruyette & Woods lifted their price target on MediaAlpha from $15.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday, July 8th. Finally, Zacks Research upgraded MediaAlpha from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $14.29.

Institutional Trading of MediaAlpha

Hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. increased its holdings in MediaAlpha by 9,917.9% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock valued at $36,000 after buying an additional 2,777 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in MediaAlpha in the first quarter valued at $85,000. Aaron Wealth Advisors LLC acquired a new position in MediaAlpha in the first quarter valued at $95,000. Glenmede Trust Co. NA purchased a new position in MediaAlpha during the 1st quarter worth approximately $122,000. Finally, SG Americas Securities LLC lifted its stake in MediaAlpha by 23.2% in the first quarter. SG Americas Securities LLC now owns 19,473 shares of the company’s stock valued at $181,000 after buying an additional 3,668 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.

About MediaAlpha

MediaAlpha, Inc (NYSE: MAX) operates a technology platform designed to help insurance companies and distributors acquire customers through digital channels. Its platform connects consumers who are shopping for insurance with providers and other distribution partners, using data, analytics and automated transactions to facilitate customer acquisition.

The company’s services primarily support insurance shopping and marketing across categories such as auto, home, health and life insurance.