Insider Selling: MediaAlpha (NYSE:MAX) Insider Sells 4,000 Shares of Stock

MediaAlpha, Inc. (NYSE:MAX) insider Steven Yi sold 4,000 shares of the firm’s stock in a transaction dated Monday, April 13th. The shares were sold at an average price of $9.07, for a total value of $36,280.00. Following the sale, the insider directly owned 3,015,247 shares in the company, valued at approximately $27,348,290.29. This represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 15th, Steven Yi sold 4,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.68, for a total value of $38,720.00.
• On Wednesday, April 8th, Steven Yi sold 4,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.78, for a total value of $39,120.00.
• On Monday, April 6th, Steven Yi sold 4,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.34, for a total value of $37,360.00.
• On Wednesday, April 1st, Steven Yi sold 4,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.15, for a total value of $36,600.00.
• On Monday, March 30th, Steven Yi sold 4,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.23, for a total value of $36,920.00.
• On Wednesday, March 25th, Steven Yi sold 4,000 shares of MediaAlpha stock. The shares were sold at an average price of $9.42, for a total value 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 value 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 value 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 value of $51,956.38.
• On Monday, March 16th, Steven Yi sold 4,000 shares of MediaAlpha stock. The stock was sold at an average price of $9.93, for a total transaction of $39,720.00.

MediaAlpha Stock Performance

Shares of MAX traded up $0.27 during midday trading on Wednesday, hitting $9.69. 417,701 shares of the company traded hands, compared to its average volume of 792,883. The firm has a 50 day moving average of $9.15 and a 200-day moving average of $10.96. MediaAlpha, Inc. has a 52 week low of $7.09 and a 52 week high of $13.92. The stock has a market cap of $625.13 million, a price-to-earnings ratio of 24.85 and a beta of 1.39.

MediaAlpha (NYSE:MAX) last issued its earnings results on Monday, February 23rd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.25. MediaAlpha had a negative return on equity of 132.73% and a net margin of 2.30%.The firm had revenue of $291.16 million for the quarter, compared to analysts’ expectations of $296.42 million. During the same period in the previous year, the firm posted $0.08 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. Sell-side analysts predict 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 grew 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 valued at $16,268,000 after purchasing an additional 1,246,493 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of MediaAlpha by 29.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,367,896 shares of the company’s stock valued at $17,714,000 after buying an additional 309,455 shares during the period. Clearline Capital LP boosted its position in shares of MediaAlpha by 0.8% during the fourth quarter. Clearline Capital LP now owns 1,301,453 shares of the company’s stock valued at $16,854,000 after buying an additional 10,604 shares during the period. Renaissance Technologies LLC grew its stake in shares of MediaAlpha by 10.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,045,400 shares of the company’s stock valued at $13,538,000 after buying an additional 100,300 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of MediaAlpha by 4.3% during the fourth quarter. AQR Capital Management LLC now owns 804,095 shares of the company’s stock valued at $10,413,000 after buying an additional 33,416 shares during the last quarter. 64.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada reduced their target price on MediaAlpha from $18.00 to $11.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. The Goldman Sachs Group reduced their target price on MediaAlpha from $13.50 to $11.50 and set a “neutral” rating on the stock in a report on Tuesday, February 24th. Keefe, Bruyette & Woods reduced their target price on MediaAlpha from $16.00 to $15.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Wall Street Zen raised MediaAlpha from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, JPMorgan Chase & Co. reduced their target price on MediaAlpha from $15.00 to $11.00 and set an “overweight” rating on the stock in a report on Tuesday, February 24th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.70.

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.