Insider Selling: MediaAlpha (NYSE:MAX) Insider Sells $108,000.00 in Stock

MediaAlpha, Inc. (NYSE:MAX) insider Steven Yi sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $13.50, for a total value of $108,000.00. Following the completion of the transaction, the insider owned 2,903,330 shares in the company, valued at approximately $39,194,955. This trade represents a 0.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, December 8th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $13.07, for a total value of $104,560.00.
• On Wednesday, December 3rd, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $13.37, for a total value of $106,960.00.
• On Monday, December 1st, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $12.60, for a total value of $100,800.00.
• On Wednesday, November 26th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.48, for a total transaction of $99,840.00.
• On Monday, November 24th, Steven Yi sold 8,000 shares of MediaAlpha stock. The shares were sold at an average price of $11.88, for a total transaction of $95,040.00.
• On Wednesday, November 19th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $11.72, for a total transaction of $93,760.00.
• On Monday, November 17th, Steven Yi sold 8,000 shares of MediaAlpha stock. The stock was sold at an average price of $12.31, for a total transaction of $98,480.00.

MediaAlpha Price Performance

NYSE MAX traded down $0.39 during trading hours on Wednesday, hitting $13.32. 409,337 shares of the company’s stock traded hands, compared to its average volume of 530,366. The company has a market capitalization of $868.03 million, a PE ratio of -443.82 and a beta of 1.21. MediaAlpha, Inc. has a 52-week low of $7.33 and a 52-week high of $13.92. The firm’s 50-day moving average is $12.02 and its 200-day moving average is $11.31.

MediaAlpha (NYSE:MAX) last issued its earnings results on Wednesday, October 29th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.05. The business had revenue of $306.51 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 18.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.17 EPS. Equities research analysts predict that MediaAlpha, Inc. will post 0.48 earnings per share for the current fiscal year.

Institutional Trading of MediaAlpha

Hedge funds and other institutional investors have recently modified their holdings of the business. Clearline Capital LP lifted its position in MediaAlpha by 123.4% in the first quarter. Clearline Capital LP now owns 2,654,921 shares of the company’s stock valued at $24,531,000 after buying an additional 1,466,760 shares during the last quarter. Millennium Management LLC raised its stake in shares of MediaAlpha by 680.9% in the 3rd quarter. Millennium Management LLC now owns 1,429,556 shares of the company’s stock valued at $16,268,000 after acquiring an additional 1,246,493 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of MediaAlpha by 1,261.9% in the 3rd quarter. Victory Capital Management Inc. now owns 710,819 shares of the company’s stock worth $8,089,000 after acquiring an additional 658,625 shares during the last quarter. Broad Bay Capital Management LP lifted its holdings in shares of MediaAlpha by 23.8% in the 1st quarter. Broad Bay Capital Management LP now owns 2,747,778 shares of the company’s stock worth $25,389,000 after acquiring an additional 529,093 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of 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 purchasing an additional 516,195 shares during the period. 64.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Zacks Research raised MediaAlpha from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. The Goldman Sachs Group set a $13.50 price target on shares of MediaAlpha in a research report on Friday, October 31st. Wall Street Zen raised shares of MediaAlpha from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 1st. Canaccord Genuity Group restated a “buy” rating and set a $15.00 price objective on shares of MediaAlpha in a research report on Thursday, October 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of MediaAlpha from $14.00 to $15.00 and gave the company an “overweight” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.25.

MediaAlpha Company Profile

MediaAlpha, Inc, through its subsidiaries, operates an insurance customer acquisition platform in the United States. It optimizes customer acquisition in various verticals of property and casualty insurance, health insurance, and life insurance. The company was founded in 2014 and is headquartered in Los Angeles, California.