MediaAlpha, Inc. (NYSE:MAX – Get Free Report) insider Steven Yi sold 24,000 shares of MediaAlpha stock in a transaction that occurred on Thursday, October 8th. The shares were sold at an average price of $10.04, for a total transaction of $240,960.00. Following the sale, the insider owned 2,315,740 shares of the company’s stock, valued at approximately $23,250,029.60. The trade was a 1.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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 Friday, October 9th, Steven Yi sold 2,033 shares of MediaAlpha stock. The stock was sold at an average price of $11.01, for a total transaction of $22,383.33.
- On Tuesday, September 1st, Steven Yi sold 48,000 shares of MediaAlpha stock. The shares were 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 Trading Down 5.3%
MAX traded down $0.56 during midday trading on Friday, hitting $10.12. 1,023,517 shares of the company were exchanged, compared to its average volume of 1,019,762. The company’s 50 day simple moving average is $11.59 and its 200 day simple moving average is $10.87. The firm has a market capitalization of $619.64 million, a price-to-earnings ratio of 6.24 and a beta of 1.14. MediaAlpha, Inc. has a 1-year low of $7.09 and a 1-year high of $14.70.
Hedge Funds Weigh In On MediaAlpha
Several hedge funds have recently bought and sold shares of MAX. Triad Investment Management lifted its position in shares of MediaAlpha by 10.4% during the second quarter. Triad Investment Management now owns 368,731 shares of the company’s stock worth $4,635,000 after purchasing an additional 34,867 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of MediaAlpha by 8.7% during the 2nd quarter. Squarepoint Ops LLC now owns 234,255 shares of the company’s stock worth $2,945,000 after purchasing an additional 18,714 shares during the last quarter. Corient Private Wealth LP boosted its position in shares of MediaAlpha by 50.7% during the 2nd quarter. Corient Private Wealth LP now owns 23,451 shares of the company’s stock worth $295,000 after acquiring an additional 7,892 shares in the last quarter. AXQ Capital LP acquired a new position in MediaAlpha in the second quarter valued at approximately $316,000. Finally, Globeflex Capital L P acquired a new stake in MediaAlpha during the second quarter worth approximately $702,000. Institutional investors and hedge funds own 64.39% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Weiss Ratings raised shares of MediaAlpha from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. The Goldman Sachs Group raised their price target on shares of MediaAlpha from $10.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Royal Bank Of Canada increased their price objective on shares of MediaAlpha from $11.00 to $15.00 and gave the company an “outperform” rating in a report on Wednesday, August 5th. Zacks Research upgraded MediaAlpha from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, September 22nd. Finally, Wall Street Zen raised MediaAlpha from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.29.
Get Our Latest Analysis on MediaAlpha
MediaAlpha Company Profile
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.
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