MediaAlpha, Inc. (NYSE:MAX – Get Free Report) insider Steven Yi sold 48,000 shares of MediaAlpha stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $12.38, for a total value of $594,240.00. Following the sale, the insider directly owned 2,339,740 shares of the company’s stock, valued at approximately $28,965,981.20. The trade was a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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.
Steven Yi also recently made the following trade(s):
- 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 value of $910,080.00.
- On Tuesday, July 7th, Steven Yi sold 26,467 shares of MediaAlpha stock. The stock was sold at an average price of $14.07, for a total value of $372,390.69.
- On Monday, July 6th, Steven Yi sold 17,254 shares of MediaAlpha stock. The stock was sold at an average price of $14.01, for a total value of $241,728.54.
- On Wednesday, July 1st, Steven Yi sold 96,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.90, for a total transaction of $1,238,400.00.
- On Tuesday, June 16th, Steven Yi sold 24,000 shares of MediaAlpha stock. The shares were sold at an average price of $10.01, for a total transaction of $240,240.00.
MediaAlpha Stock Performance
Shares of MAX stock traded up $0.20 on Wednesday, hitting $12.51. The company’s stock had a trading volume of 333,012 shares, compared to its average volume of 767,876. MediaAlpha, Inc. has a fifty-two week low of $7.09 and a fifty-two week high of $14.70. The company has a market capitalization of $766.11 million, a PE ratio of 7.72 and a beta of 1.16. The stock’s 50 day moving average is $13.09 and its 200-day moving average is $10.59.
Institutional Trading of MediaAlpha
Several large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its position in MediaAlpha by 5,900.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 2,160 shares of the company’s stock valued at $28,000 after purchasing an additional 2,124 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in MediaAlpha by 9,917.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,805 shares of the company’s stock worth $36,000 after purchasing an additional 2,777 shares during the last quarter. Strs Ohio acquired a new stake in shares of MediaAlpha in the 4th quarter valued at $49,000. Quarry LP increased its stake in shares of MediaAlpha by 43.3% in the 3rd quarter. Quarry LP now owns 4,087 shares of the company’s stock valued at $47,000 after purchasing an additional 1,234 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of MediaAlpha by 28.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,551 shares of the company’s stock valued at $61,000 after purchasing an additional 1,213 shares during the last quarter. Institutional investors and hedge funds own 64.39% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on MAX shares. Keefe, Bruyette & Woods boosted their price target on MediaAlpha from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Wednesday, July 8th. Royal Bank Of Canada lifted their price objective on MediaAlpha from $11.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Canaccord Genuity Group upped their target price on MediaAlpha from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. The Goldman Sachs Group increased their target price on MediaAlpha from $10.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, July 30th. Finally, Weiss Ratings upgraded MediaAlpha from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.29.
Read Our Latest Analysis on MAX
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.
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